haku: @indexterm Corporate finance / yhteensä: 722
viite: 440 / 722
| Tekijä: | Brown, D. P. |
| Otsikko: | Multiperiod financial planning. |
| Lehti: | Management Science
1987 : JUL, VOL. 33:7, p. 848-875 |
| Asiasana: | CORPORATE FINANCE CORPORATE PLANNING |
| Kieli: | eng |
| Tiivistelmä: | A new algorithm for asset allocation is developed. The algorithm provides consistent approximations to the optimal savings allocations which are dependent upon personal characteristics such as age and income. Numerical analysis is used to solve an individual's lifetime consumption-investment problem on an annual basis within a context of complete markets and nonmarketable income. Its main advantage is its inclusion of investor-specific characteristics other than aversion to risk and an ability to accommodate a rich investment opportunity set. |
SCIMA