Empirical analysis and optimization of capital structure adjustment
dc.contributor.author | Ma, J. | |
dc.contributor.author | Xu, Honglei | |
dc.date.accessioned | 2023-03-14T08:01:01Z | |
dc.date.available | 2023-03-14T08:01:01Z | |
dc.date.issued | 2020 | |
dc.identifier.citation | Ma, J. and Xu, H. 2020. Empirical analysis and optimization of capital structure adjustment. Journal of Industrial and Management Optimization. 16 (3): pp. 1037-1047. | |
dc.identifier.uri | http://hdl.handle.net/20.500.11937/90938 | |
dc.identifier.doi | 10.3934/JIMO.2018191 | |
dc.description.abstract |
This paper analyzes capital structure's characteristics and presents its simplified mathematical model. Panel data analysis shows that the listed companies prefer equity financing rather than debt financing. Furthermore, we propose a capital structure optimization model with uncertain equity financing constraints. We formulate the capital structure optimization problem as a two-stage stochastic optimization problem and solve it. Finally, numerical examples show that our optimization approach can improve the statistics result of capital structure adjustment. | |
dc.language | English | |
dc.publisher | AMER INST MATHEMATICAL SCIENCES-AIMS | |
dc.relation.sponsoredby | http://purl.org/au-research/grants/arc/DP160102819 | |
dc.subject | Science & Technology | |
dc.subject | Technology | |
dc.subject | Physical Sciences | |
dc.subject | Engineering, Multidisciplinary | |
dc.subject | Operations Research & Management Science | |
dc.subject | Mathematics, Interdisciplinary Applications | |
dc.subject | Engineering | |
dc.subject | Mathematics | |
dc.subject | Target capital structure | |
dc.subject | institutional ownership | |
dc.subject | capital structure optimization | |
dc.subject | two-stage stochastic optimization | |
dc.subject | ALGORITHM | |
dc.title | Empirical analysis and optimization of capital structure adjustment | |
dc.type | Journal Article | |
dcterms.source.volume | 16 | |
dcterms.source.number | 3 | |
dcterms.source.startPage | 1037 | |
dcterms.source.endPage | 1047 | |
dcterms.source.issn | 1547-5816 | |
dcterms.source.title | Journal of Industrial and Management Optimization | |
dc.date.updated | 2023-03-14T08:01:01Z | |
curtin.department | School of Elec Eng, Comp and Math Sci (EECMS) | |
curtin.accessStatus | Fulltext not available | |
curtin.faculty | Faculty of Science and Engineering | |
curtin.contributor.orcid | Xu, Honglei [0000-0003-3212-2080] | |
curtin.contributor.researcherid | Xu, Honglei [A-1307-2010] | |
dcterms.source.eissn | 1553-166X | |
curtin.contributor.scopusauthorid | Xu, Honglei [23037699600] [57203334243] [57203334253] | |
curtin.repositoryagreement | V3 |
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