![]() ![]() ![]() The firm model was designed in PC/Windows-environment, with access to the LINDO-package in the optimization stage. Even if our sample firm is but one case, the results are indicative of some fundamental principles governing management decision making. When optimizing dividends the model balances between investing and paying out dividends, while optimizing net income results in an intensive investment program. With the data of our sample firm for this paper, optimal dividends and optimal net income presuppose different strategies. Our model has been tested on some major Finnish firms and it seems to give reliable results. ![]() The financial constraints include bounds for the decision variables, some fundamental requirements such as nonnegativity of assets and liabilities and, finally, some balance sheet and income statement relationships. The key decision variables are investments, new loans, new issues, loan repayments, dividend payments, depreciations and the level of operations (i.e. Our purpose is to maximize the discounted value of net income and dividend payouts. The key property of our model is the simplicity of generating optimal firm strategies. Interact With DocumentsOrganize everything with Wolfram Notebooks-data, code, graphics, presentations and more-and easily interact with your existing documents, including PDFs, Microsoft Excel spreadsheets, Microsoft Word documents or HTML format.This paper develops and applies a linear, deterministic, multiperiod firm model for strategic planning. Compute on the desktop, in the cloud and on mobile devices. You'll save time by learning a single unified language with thousands of algorithms optimized for classroom, research and hobby projects.Ĭompute From Anywhere Add on-the-go access to projects with Mathematica Online. And with thousands of interactive visualizations in the Documentation Center and the Wolfram Demonstrations Project, you can start exploring premade examples immediately.Īny Subject, Any LevelYou can use Mathematica Student Edition to explore any topic-regardless of differences in textbooks, knowledge levels or teaching styles. Get Started Quickly With Natural Language Understanding (NLU), using Mathematica Student Edition is as easy as typing what you want it to do-no programming experience needed. ![]()
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