scholarly journals The Optimal Dividend Payout Model with Terminal Values and Its Application

2017 ◽  
Vol 2017 ◽  
pp. 1-15
Author(s):  
Xiankang Luo ◽  
Peimin Chen ◽  
Jiangming Ma
Keyword(s):  
Value Function ◽  
Analytic Solution ◽  
Important Application ◽  
Stochastic Dynamic ◽  
Optimal Dividend ◽  
Optimal Value ◽  
The Status ◽  
Optimal Dividend Policy ◽  
The Relationship ◽  
Theoretical Results

For some firms with large nonliquid assets, preferred shareholders can still get back a little bit of money when the firms finish disbursement of loans at the status of bankruptcy. For such a situation, to investigate the optimal dividend policy, a stochastic dynamic dividend model with nonzero terminal bankruptcy values is put forward in this paper. Moreover, an analytic solution for the optimal objective function of the discounted dividends is provided and verified. An important application of this result is that it can be employed to construct the solution for the optimal value function on the dividend problem with bailouts at bankruptcy. Further, the relationship for the solutions of these two different problems is demonstrated. In the end, some numerical examples are provided to support our theoretical results and the corresponding economic interpretations are illustrated.

scholarly journals Optimal dividend strategies for two collaborating insurance companies

2017 ◽  
Vol 49 (2) ◽  
pp. 515-548 ◽  
Author(s):  
Hansjörg Albrecher ◽  
Pablo Azcue ◽  
Nora Muler
Keyword(s):  
Value Function ◽  
Insurance Companies ◽  
Two Dimensional ◽  
Dividend Payments ◽  
Optimal Dividend ◽  
Optimal Value ◽  
Hamilton Jacobi Bellman Equation ◽  
Hamilton Jacobi Bellman ◽  
The One ◽  
The Value Function

Abstract We consider a two-dimensional optimal dividend problem in the context of two insurance companies with compound Poisson surplus processes, who collaborate by paying each other's deficit when possible. We study the stochastic control problem of maximizing the weighted sum of expected discounted dividend payments (among all admissible dividend strategies) until ruin of both companies, by extending results of univariate optimal control theory. In the case that the dividends paid by the two companies are equally weighted, the value function of this problem compares favorably with the one of merging the two companies completely. We identify the optimal value function as the smallest viscosity supersolution of the respective Hamilton–Jacobi–Bellman equation and provide an iterative approach to approximate it numerically. Curve strategies are identified as the natural analogue of barrier strategies in this two-dimensional context. A numerical example is given for which such a curve strategy is indeed optimal among all admissible dividend strategies, and for which this collaboration mechanism also outperforms the suitably weighted optimal dividend strategies of the two stand-alone companies.

scholarly journals Optimal Dividend Policy In Discrete Time

2014 ◽  
Vol 47 (1) ◽  
Author(s):  
Ewa Marciniak ◽  
Jakub Trybuła
Keyword(s):  
Discrete Time ◽  
Dividend Policy ◽  
Value Function ◽  
Bank Loan ◽  
Numerical Example ◽  
A Value ◽  
Optimal Dividend ◽  
Optimal Dividend Policy

AbstractA problem of optimal dividend policy for a firm with a bank loan is considered. A regularity of a value function is established. A numerical example of calculating value function is given

Contemporary Qur'anic Studies in Iran and its Relationship with Qur'anic Studies in the West

2012 ◽  
Vol 14 (1) ◽  
pp. 45-72
Author(s):  
Morteza Karimi-Nia
Keyword(s):  
Islamic Law ◽  
Human Sciences ◽  
The West ◽  
Communications Technologies ◽  
Religious Learning ◽  
The Status ◽  
Islamic Republic Of Iran ◽  
Almost All ◽  
The Impact ◽  
The Relationship

The status of tafsīr and Qur'anic studies in the Islamic Republic of Iran has changed significantly during recent decades. The essay provides an overview of the state of Qur'anic studies in Iran today, aiming to examine the extent of the impact of studies by Western scholars on Iranian academic circles during the last three decades and the relationship between them. As in most Islamic countries, the major bulk of academic activity in Iran in this field used to be undertaken by the traditional ʿulamāʾ; however, since the beginning of the twentieth century and the establishment of universities and other academic institutions in the Islamic world, there has been increasing diversity and development. After the Islamic Revolution, many gradual changes in the structure and approach of centres of religious learning and universities have occurred. Contemporary advancements in modern sciences and communications technologies have gradually brought the institutions engaged in the study of human sciences to confront the new context. As a result, the traditional Shīʿī centres of learning, which until 50 years ago devoted themselves exclusively to the study of Islamic law and jurisprudence, today pay attention to the teaching of foreign languages, Qur'anic sciences and exegesis, including Western studies about the Qur'an, to a certain extent, and recognise the importance of almost all of the human sciences of the West.

Moderating Role of Gender in the Relationship between Cognitive Errors and Anxiety among Adolescents

2020 ◽  
Vol 4 (1) ◽  
pp. 86-102
Author(s):  
Tasnim Rehna ◽  
Rubina Hanif ◽  
Muhammad Aqeel
Keyword(s):  
Mental Health Problems ◽  
Adolescent Psychopathology ◽  
Future Research ◽  
Cognitive Errors ◽  
Adolescent Anxiety ◽  
Study Results ◽  
The Status ◽  
Manifest Anxiety ◽  
The Relationship

Background: Widespread social paradigms on which the status variances are grounded in any society, gender plays pivotal role in manifestation of mental health problems (Rutter, 2007). A hefty volume of research has addressed the issue in adults nonetheless, little is vividly known about the role of gender in adolescent psychopathology. Sample: A sample of 240 adolescents (125 boys, 115 girls) aging 12-18 years was amassed from various secondary schools of Islamabad with the approval of the Federal Directorate of Education (FDE), relevant authorities of the schools and the adolescents themselves. Instruments: Taylor Manifest Anxiety Scale (Taylor & Spence, 1953) and Children’s Negative Cognitive Errors Questionnaire (CNCEQ) by Leitenberg et al., (1986) were applied in present study. Results: Multiple regression analysis revealed that cognitive errors jointly accounted for 78% of variance in predicting anxiety among adolescents. Findings also exhibited that gender significantly moderated the relationship between cognitive errors and adolescent anxiety. Implications of the findings are discoursed for future research and clinical practice.

Devotional Transformation

2005 ◽  
Vol 1 (2-3) ◽  
pp. 237-257
Author(s):  
Ravi Vasudevan
Keyword(s):  
Religious Belief ◽  
Film Genre ◽  
Narrative Structures ◽  
The Status ◽  
Film Spectatorship ◽  
The Relationship

This article focuses on the specific Indian cinematic form of the Hindu devotional film genre to explore the relationship between cinema and religion. Using three important early films from the devotional oeuvre—Gopal Krishna, Sant Dnyaneshwar, and Sant Tukaram—as the primary referent, it tries to understand certain characteristic patterns in the narrative structures of these films, and the cultures of visuality and address, miraculous manifestation, and witnessing and self-transformation that they generate. These three films produced by Prabhat Studios between the years 1936 and 1940 and all directed by Vishnupant Damle and Syed Fattelal, drew upon the powerful anti-hierarchical traditions of Bhakti, devotional worship that circumvented Brahmanical forms. This article will argue that the devotional film crucially undertakes a work of transformation in the perspectives on property, and that in this engagement it particularly reviews the status of the household in its bid to generate a utopian model of unbounded community. The article will also consider the status of technologies of the miraculous that are among the central attractions of the genre, and afford a reflection on the relation between cinema technology, popular religious belief and desire, and film spectatorship.

The Concept of the Political

2018 ◽  
Author(s):  
Benjamin A. Schupmann
Keyword(s):  
Civil War ◽  
The State ◽  
The Political ◽  
Mass Movements ◽  
The Status ◽  
The Relationship

Chapter 2 reinterprets Schmitt’s concept of the political. Schmitt argued that Weimar developments, especially the rise of mass movements politically opposed to the state and constitution, demonstrated that the state did not have any sort of monopoly over the political, contradicting the arguments made by predominant Weimar state theorists, such as Jellinek and Meinecke. Not only was the political independent of the state, Schmitt argued, but it could even be turned against it. Schmitt believed that his contemporaries’ failure to recognize the nature of the political prevented them from adequately responding to the politicization of society, inadvertently risking civil war. This chapter reanalyzes Schmitt’s political from this perspective. Without ignoring enmity, it argues that Schmitt also defines the political in terms of friendship and, importantly, “status par excellence” (the status that relativizes other statuses). It also examines the relationship between the political and Schmitt’s concept of representation.

scholarly journals Gender and Migrant Roles in Italian Neorealist and New Migrant Films: Cinema as an Apparatus of Reconfiguration of National Identity and ‘Otherness’

Humanities ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 71
Author(s):  
Marianna Charitonidou
Keyword(s):  
National Identity ◽  
Urban Studies ◽  
Italian Cinema ◽  
Main Argument ◽  
Narrative Strategies ◽  
National Narratives ◽  
The Status ◽  
And Gender ◽  
Post War ◽  
The Relationship

The article examines an ensemble of gender and migrant roles in post-war Neorealist and New Migrant Italian films. Its main objective is to analyze gender and placemaking practices in an ensemble of films, addressing these practices on a symbolic level. The main argument of the article is that the way gender and migrant roles were conceived in the Italian Neorealist and New Migrant Cinema was based on the intention to challenge certain stereotypes characterizing the understanding of national identity and ‘otherness’. The article presents how the roles of borgatari and women function as devices of reconceptualization of Italy’s identity, providing a fertile terrain for problematizing the relationship between migration studies, urban studies and gender studies. Special attention is paid to how migrants are related to the reconceptualization of Italy’s national narrations. The Neorealist model is understood here as a precursor of the narrative strategies that one encounters in numerous films belonging to the New Migrant cinema in Italy. The article also explores how certain aspects of more contemporary studies of migrant cinema in Italy could illuminate our understanding of Neorealist cinema and its relation to national narratives. To connect gender representation and migrant roles in Italian cinema, the article focuses on the analysis of the status of certain roles of women, paying particular attention to Anna Magnagi’s roles.

scholarly journals What Difference Does Posthumanism Make?

2021 ◽  
pp. 1-7
Author(s):  
Rachel J. Crellin ◽  
Oliver J.T. Harris
Keyword(s):  
Productive Force ◽  
The World ◽  
The Status ◽  
The Difference ◽  
The Relationship

In this paper we argue that to understand the difference Posthumanism makes to the relationship between archaeology, agency and ontology, several misconceptions need to be corrected. First, we emphasize that Posthumanism is multiple, with different elements, meaning any critique needs to be carefully targeted. The approach we advocate is a specifically Deleuzian and explicitly feminist approach to Posthumanism. Second, we examine the status of agency within Posthumanism and suggest that we may be better off thinking about affect. Third, we explore how the approach we advocate treats difference in new ways, not as a question of lack, or as difference ‘from’, but rather as a productive force in the world. Finally, we explore how Posthumanism allows us to re-position the role of the human in archaeology,

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