Optimal dividend and investment policy with debt covenants


A firm holds a certain amount of debt to which is associated a financial-ratio covenant between the creditors and the firm. It may be audited at any time and must furnish financial statements to prove that its debt to total... [ view full abstract ]


  1. Etienne Chevalier (Evry University)
  2. Vathana Ly Vath (ENSIIE)
  3. Alexandre Roch (University of Quebec in Montreal)

Topic Areas

Optimal Control , Risk Management


WE-P-EM » Dividends and Control (14:30 - Wednesday, 18th July, Emmet)

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