haku: @indexterm Discount rate / yhteensä: 136
viite: 51 / 136
| Tekijä: | Grubbstroem, R. Ashcroft, S. |
| Otsikko: | Application of the Calculus of Variations to financing alternatives |
| Lehti: | Omega
1991 : APR, VOL. 19:4, p. 305-316 |
| Asiasana: | INVESTMENT FINANCING QUANTITATIVE TECHNIQUES FINANCIAL ANALYSIS INVESTMENT ANALYSIS DISCOUNT RATE |
| Kieli: | eng |
| Tiivistelmä: | The problem investigated in the paper is how to choose a combination of investments and financing options from a finite set of possibly interrelated alternatives and simultaneously determine a temporal level of consumption in order that some utility functional is maximised over a given time horizon. Application of Calculus of Variations leads to consideration of the Euler-Lagrange equations combined with Kulm-Tucker conditions. The solution requires the maximisation of a Generalised Net Present Wealth measure in which the discount factor is formed from an integral of the Lagrangean multiplier function. |
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