An impulse-control method for investment decisions in dynamic technology

Article Abstract:

A new procedure to investigate the profitability of investments associated with dynamic technology was proposed. The procedure considers the availability of more technologically advanced products and the irreversibility of the investment process. The investment decision takes on the nature of dynamic control since the technology available is not static. Firms tend to hesitate from investing in technologically advanced equipment because the nature of technological progress means that prices of these products are continuously declining. Investment expenditures can be maximized if the rate of technological progress, cost functions and intervals between investments are considered.

Decision-making, Models, Decision making, Management, Industrial equipment, Finance, Capital investments

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Dividend policy and investment: theory and evidence from US panel data

Article Abstract:

It has been hypothesized that a company's investment behavior may be influenced to a large extent by its dividend policy and liquidity constraints. Recent studies show that such a phenomenon exists in imperfect capital markets. Moreover, controlling for a firm's dividend payment using an alternative Q specification does not diminish the influence of liquidity constraints on firm investment behavior.

Dividends, Liquidity (Finance)

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Investment with an arithmetic process and lags

Article Abstract:

A closed-form solution of a simple investment problem with entry lags and when the underlying stochastic process is arithmetic is presented. The model assumes that abandonment of the investment project is not permitted.

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