Optimal Financing and Dividend Strategies with Time Inconsistency in a Regime Switching Economy
This paper incorporates a manager’s time-inconsistent preferences into the unified dynamic q-theoretic framework to investigate their impact on the optimal external financing and dividend payout strategies in a regime switching economy. We find that with a higher degree of time inconsistency, either...
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| Main Authors: | Yehong Yang, Guohua Cao |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2019-01-01
|
| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2019/8479503 |
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