000 03210nam a22005175i 4500
001 978-0-387-23570-7
003 DE-He213
005 20180115171349.0
007 cr nn 008mamaa
008 100301s2005 xxu| s |||| 0|eng d
020 _a9780387235707
_9978-0-387-23570-7
024 7 _a10.1007/b101888
_2doi
050 4 _aQA315-316
050 4 _aQA402.3
050 4 _aQA402.5-QA402.6
072 7 _aPBKQ
_2bicssc
072 7 _aPBU
_2bicssc
072 7 _aMAT005000
_2bisacsh
072 7 _aMAT029020
_2bisacsh
082 0 4 _a515.64
_223
100 1 _aChen, Ping.
_eauthor.
245 1 0 _aOptimal Control Models in Finance
_h[electronic resource] :
_bA New Computational Approach /
_cby Ping Chen, Sardar M. N. Islam.
264 1 _aBoston, MA :
_bSpringer US,
_c2005.
300 _aXVIII, 201 p.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aApplied Optimization,
_x1384-6485 ;
_v95
505 0 _aOptimal Control Models in Finance -- The STV Approach to Financial Optimal Control Models -- A Financial Oscillator Model -- An Optimal Corporate Financing Model -- Further Computational Experiments and Results -- Conclusion.
520 _aThe determination of optimal financing and investment strategies (optimal capital structure or optimal mix of funds, optimal portfolio choice, etc.) for corporations and the economy are important for efficient allocation of resources in the economy. Optimal control methods have useful applications to these areas in finance - some optimization problems in finance include optimal control, involving a dynamic system with switching times in the form of bang-bang control. Optimal control models for corporate finance and the economy are presented in this book and the analytical and computational results of these models are also reported. Such computational approaches to the study of optimal corporate financing are not well known in the existing literature. This book develops a new computational method where switching times are considered as variables in the optimal dynamic financial model represented by a second order differential equation. A new computer program named CSTVA (Computer Program for the Switching Time Variables Algorithm), which can compute bang-bang optimal financial models with switching time, is also developed. Optimal financing implications of the model results in the form of optimal switching times for changes in financing policies and the optimal financial policies are analyzed.
650 0 _aMathematics.
650 0 _aMathematical optimization.
650 0 _aCalculus of variations.
650 1 4 _aMathematics.
650 2 4 _aCalculus of Variations and Optimal Control; Optimization.
650 2 4 _aOptimization.
700 1 _aIslam, Sardar M. N.
_eauthor.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9780387235691
830 0 _aApplied Optimization,
_x1384-6485 ;
_v95
856 4 0 _uhttp://dx.doi.org/10.1007/b101888
912 _aZDB-2-SMA
999 _c369269
_d369269