| Autor: |
Li Deng, Zhichao Chen |
| Jazyk: |
angličtina |
| Rok vydání: |
2024 |
| Předmět: |
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| Zdroj: |
AIMS Mathematics, Vol 9, Iss 11, Pp 31696-31720 (2024) |
| Druh dokumentu: |
article |
| ISSN: |
2473-6988 |
| DOI: |
10.3934/math.20241524?viewType=HTML |
| Popis: |
Dividend policies play a pivotal role in financial management by aiming to maximize shareholders' interest and effectively managing risk. In this paper, we explore the optimal dividend strategy in a discrete-time compound binomial dual risk framework. This model is suitable for a company whose income comes from occasional operating expenses and settlements only once per unit of time. We assume that expenses are subject to dynamic changes influenced by economic factors, following a Markov chain. With or without a ceiling constraint on dividend payments, we prove that the optimal value function serves as the exclusive solution to a discrete Hamilton-Jacobi-Bellman (HJB) equation through the utilization of the fixed-point theorem. Furthermore, we derive a straightforward computational approach for determining the optimal strategy. Finally, we provide numerical examples to illustrate the theoretical findings and calculation methods. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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