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In CRRA (Constant Relative Risk Aversion) theory, we analysis factors influencing the optimal R&D investment. The theoretical model points out that the optimal R&D investment depends on three factors: the expected profits growth, the critical level of accumulated investment on R&D and the company's risk preference (the volatility of future cash flows). By the empirical analysis of 156...
With the process of economic globalization accelerating, the cooperation among enterprises becomes closer than before. Joint managed inventory was adopted to lower production costs and get high profit. However it is the key and foundation to keep the whole supply chain efficient and orderly whether the profit allocation is reasonable. The strategy of JMI in the supply chain was studied. The methods...
The hi-tech projects' investment is characterized with high risk and huge profit, so a scientific and accurate risk evaluation model is of importance to projects' investment. Based on the analysis of the indicators influencing the investment risk of hi-tech projects, some typical indicators were selected. Firstly, according to the quantitative assessment results from the experts, some samples were...
Portfolio optimization is an important research field in modern finance. The most important characteristic within this optimization problem is the risk and the returns. Modern portfolio theory provides a well-developed paradigm to form a portfolio with the highest expected return for a given level of risk tolerance. Multi objective portfolio optimization problem is the portfolio selection process...
We develop and test a logistic regression model to examine how companies choose between public offering and private placements in China. Three findings emerge. First, profitability is one of the most important factors that influence on the choices of SEO. Companies that cannot make enough profits without qualifications for public offering are more likely to choose private placement. This evidence...
With the increasing scale of modern science & technology together with the increased investment intensity, imitators' behavior has more and more affected innovators. Thus, an intellectual property mechanism must be introduced in modern innovation competition to regulate innovation and imitation. After analyzing how innovators' income and rapidity of profits return are affected by different factors,...
The problem of optimal mutual fund investment taking into account possible risks is considered. In this paper we consider lost profit in the growing market and a loss in a falling market as a possible risk. Our studies show that the efficiency of mutual funds can be estimated by nine main parameters obtained by historical data. Evaluation and ranking criteria sets for mutual funds are defined by the...
In the case of full circulation of stocks, the ratio "the total market value of stocks/total debt" introduced in financial crisis early warning model can improve the warning mechanism. Through setting up the early warning mechanism and improving data processing, the consequence of operating the early warning mechanism would forecast better the degree and probability of a financial crisis...
This electronic document is a "live" template. The paper studies the balance between benefits and risks, when such a generator sales electricity in many trade markets. Firstly, the uncertain risk faced by this generator selling electricity in spot market, contract market and option market will be measured with conditional value at risk (CVaR) theory. Secondly, the mean-CVaR sale portfolio...
In this paper, we present an investment supernetwork model with risk management. The optimality condition for the investor who try to optimize their objective function and are faced with multiple criteria such as maximize profit and minimum risk, minimum time and so on, and weight them according to their preferences is established and derives the finite-dimensional variational inequality formulation...
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