Academic literature on the topic 'Dividends Australia Mathematical models'
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Journal articles on the topic "Dividends Australia Mathematical models"
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Klein, R. "An unified approach to meteorological modelling based on multiple-scales asymptotics." Advances in Geosciences 15 (March 18, 2008): 23–33. http://dx.doi.org/10.5194/adgeo-15-23-2008.
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Abstract. In 2003, the author suggested a mathematical framework for the derivation of reduced meteorological models at a Mathematics conference (5th ICIAM, Sydney, Australia), (Klein, 2004). The framework consists of (i) non-dimensionalization of the 3-D compressible flow equations on the rotating sphere, (ii) identification of universal non-dimensional parameters, (iii) distinguished limits between these and additional problem-specific parameters, and (iv) multiple scales expansions in the remaining small parameter ε. This parameter may be interpreted as the cubic root of the centripetal acceleration due to the Earth's rotation divided by the acceleration of gravity, see also Keller (1951), Eq. (10). For the mojority of reduced models of theoretical meteorology that we have come across, the approach allowed us to generate systematic derivations starting directly from the 3-D compressible flow equations on the rotating sphere. The framework's potential fully shows in multiscale interaction studies such as Klein (2006), in which we incorporated bulk microphysics closures for moist processes and derived scale interaction models for deep convection. Currently, we study the structure, evolution, and motion of Hurricane strength H1/H2 vortices (Mikusky, 2007), large-scale stratocumulus cloud decks, and planetary-synoptic scale interaction models which should be relevant for Earth System Models of Intermediate Complexity (EMICs). Here we summarize the general framework and use the example of quasi-geostrophic theory to demonstrate its application.
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Copper, J. K., and A. B. Sproul. "Comparative study of mathematical models in estimating solar irradiance for Australia." Renewable Energy 43 (July 2012): 130–39. http://dx.doi.org/10.1016/j.renene.2011.11.050.
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Amir, Rabah, Igor V. Evstigneev, Thorsten Hens, Valeriya Potapova, and Klaus R. Schenk-Hoppé. "Evolution in pecunia." Proceedings of the National Academy of Sciences 118, no. 26 (June 25, 2021): e2016514118. http://dx.doi.org/10.1073/pnas.2016514118.
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The paper models evolution in pecunia—in the realm of finance. Financial markets are explored as evolving biological systems. Diverse investment strategies compete for the market capital invested in long-lived dividend-paying assets. Some strategies survive and some become extinct. The basis of our paper is that dividends are not exogenous but increase with the wealth invested in an asset, as is the case in a production economy. This might create a positive feedback loop in which more investment in some asset leads to higher dividends which in turn lead to higher investments. Nevertheless, we are able to identify a unique evolutionary stable investment strategy. The problem is studied in a framework combining stochastic dynamics and evolutionary game theory. The model proposed employs only objectively observable market data, in contrast with traditional settings relying upon unobservable investors’ characteristics (utilities and beliefs). Our method is analytical and based on mathematical reasoning. A numerical illustration of the main result is provided.
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Rodriguez, Daniel F., Ali Malik, Nasser I. Abumustafa, and Arshad Jamal. "Explanatory Power of Selected Proxies in Predicting Stock Returns of Large U.K. Companies." International Journal of Business and Management 14, no. 4 (March 8, 2019): 72. http://dx.doi.org/10.5539/ijbm.v14n4p72.
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Predicting stock returns has been instrumental in our understanding of capital market structure. The validity of models, like the Capital Asset Pricing Model or the Gordon Growth Model, has influenced and contributed to building mathematical representations in predicting required return. Several studies attempted to explore different variables to determine the explanatory power of proxies in predicting stock return. For example, it is reported that dividends can explain up to 25% of the variance in returns. The explanatory power of dividends in the regression analysis showed a significant variation when the analysis follows time-series methodology. This study aims at examining the predicting power in the U.K. equity market by plugging into the regression model some of the variables conventionally measured in the Structural Equation Modeling. The study is quantitative and uses secondary data. The findings of this study suggest that the selected proxies, dividend growth, earnings per share, and beta exhibit weak explanatory power in predicting returns of large U.K. companies.
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Yarram, Subba Reddy. "Corporate governance ratings and the dividend payout decisions of Australian corporate firms." International Journal of Managerial Finance 11, no. 2 (April 7, 2015): 162–78. http://dx.doi.org/10.1108/ijmf-01-2013-0012.
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Purpose – The purpose of this paper is to examine the influence of corporate governance on the dividend payout decisions of Australian firms by considering two related objectives. First, it considers the role of corporate governance ratings (CGRs) on the decision to pay or not to pay dividends. Second, it considers the influence of CGRs on the average dividend payout level of Australian firms. Design/methodology/approach – The sample consists of 413 non-financial firms included in the All Ordinaries Index for the period 2004-2009. A logit model is employed to analyse the decision to pay or omit dividends. Similarly, tobit method is employed to analyse the factors influencing the dividend payout level of Australian firms. To control for unobserved heterogeneity, this study employs random effects panel logit and panel tobit models. Findings – This study finds that CGRs have a significant positive influence on the decision to pay dividends and on the average dividend payout level of Australian firms. Similarly, the present study finds support for signalling hypothesis as profitability has a significant positive influence and a loss dummy has a significant negative influence on the dividend payout decisions of Australian firms. The study also finds support for the life cycle hypothesis as growth opportunities have a significant negative impact on the average dividend payout level of Australian firms. This study finds no conclusive evidence of the existence of dividend tax clientele in Australia. Research limitations/implications – Dividends provide a complementary governance role consistent with the “outcomes model” of the agency cost theory as proposed by La Port et al. (2000). Practical implications – The findings have implications for corporate governance policies. Principle-based governance mechanisms work as well as the rule-based governance mechanisms in an environment characterized by high levels of investor protection and well-developed stock markets. Companies that are well governed may limit the opportunities for managers to expropriate shareholders and thus governance may reduce the contracting costs associated with compensation policies. Originality/value – This is the first study that examines the influence of governance on dividend policy using the CGRs developed by the WHK Horwath/University of Newcastle. Findings are robust and account for unobserved heterogeneity as random effects panel models are employed.
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Kowerski, Mieczysław. "The Geographical, Economic and Legal Regionalization of the Changes in Dividend Payments in the World." Barometr Regionalny. Analizy i Prognozy 18, no. 1 (September 14, 2022): 39–65. http://dx.doi.org/10.56583/br.722.
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The dynamic growth of nominal and real values of dividends paid in the world, observed since the last quarter of the twentieth century, is determined by the companies with the largest capitalization. However, the increase in global dividend payments is not the same in all countries and is subject to geographical, economic and legal regionalization. It is also disturbed by economic fluctuations (especially the 2008 crisis) and, more recently, by the COVID-19 pandemic. The paper, using the data from the survey of Janus Henderson Investments, analyses changes in dividend payments in geographical (continents) economic (countries with a similar level of economic development) and legal (countries with similar legal systems) regions by the 1,200 largest companies in the world between 2009 and 2021. Linnear trend models taking into account the COVID-19 pandemic in the world and in separate regions and subregions, as well as the panel partial adjustment model of dividends vs. GDP, were estimated. The conducted research confirmed the impact of different forms of regionalization on the rate of dividend payments by the world’s largest companies. In the years 2009–2021 dividend payments in Australia and Asia grew the fastest. COVID-19 significantly reduced dividend payments in 2020 in Europe. Dividend payments in emerging markets countries grew faster than in developed markets countries and COVID-19 did not significantly reduce payouts on emerging markets. However, it is the developed markets that still provide the vast majority of dividends. The common law system is more favorable to dividend payments.
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Klepikova, O., J. Danylchuk, and T. Zagray. "Information and analytical technologies in trading enterprise management." 101, no. 101 (December 30, 2021): 113–23. http://dx.doi.org/10.26565/2311-2379-2021-101-11.
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The article considers economic and mathematical methods and information technologies for managing the processes of trade enterprise. Economic and mathematical models for solving warehousing logistics problems, stochastic and statistical models of inventory management, models of optimal management and queuing systems are analyzed. Flexible tools are used to increase the efficiency of trade enterprise management and timely decision-making. The tools combine the use of mathematical models, a simulation model and information-analytical technologies. The study was carried out in three stages. The simulation model is designed in the software iThink. The simulation model was used to forecast sales, incomes, expenses and profit, processes of goods purchases, which take into account the factors of seasonality and the rest of production both in a warehouse and in the enterprise as a whole. The efficiency indicators of the enterprise are calculated and the possibility of payroll depending on income and dividends to owners is analyzed. An investment project has been designed in the software «Alt-Invest». This project analyzes the possibility of opening a new store with regard for financial activities, the development of a business plan for an investment project, the preparation of financial feasibility study, and the assessment of the impact of external factors and internal parameters on the overall effectiveness of the project. A comparative assessment is carried out in order to select the most promising project option. ABC-XYZ scenario was designed in the software platform Loginom. Using this analysis, the product range was divided into groups depending on the revenue and financial capabilities of the enterprise.
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Lee, S. H., S. Vigneswaran, and K. Bajracharya. "Phosphorus transport in saturated slag columns: experiments and mathematical models." Water Science and Technology 34, no. 1-2 (July 1, 1996): 153–60. http://dx.doi.org/10.2166/wst.1996.0367.
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Excessive phosphorus (P as orthophosphate) is one of the major pollutants in natural water that are responsible for algal blooms and eutrophication. P removal by slag is an attractive solution if the P sorption capacity of slag is significant. To design an efficient land treatment facility, basic information on the behaviour of P in the media-water environment is required. In this study, detailed column experiments were conducted to study the P transport under dynamic condition, and mathematical models were developed to describe this process. The column experiments conducted with dust and cake waste products (slag) from a steel industry as adsorbing indicated that they had higher sorption capacity of P than that of a sandy loam soil from North Sydney, Australia. P transport in the dust and cake columns exhibited characteristic S-shaped or curvilinear breakthrough curves. The simulated results from a dynamic physical nonequilibrium sorption model (DPNSM) and Freundlich isotherm constants satisfactorily matched the corresponding experimental breakthrough data. The mobility of P is restricted by the adsorbents and it is proportional to the sorption capacity of them.
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Razali, K., J. Amin, GJ Dore, MG Law, and HCV Projections Working Group. "Modelling and calibration of the hepatitis C epidemic in Australia." Statistical Methods in Medical Research 18, no. 3 (November 26, 2008): 253–70. http://dx.doi.org/10.1177/0962280208094689.
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Hepatitis C virus (HCV) infection in Australia is predominantly transmitted through injecting drug use. A reduction in the heroin supply in Australia in late 2000 and early 2001 may have impacted the number of injecting drug users (IDUs) and the number of new hepatitis C infections. This paper updates estimates of HCV incidence between 1960 and 2005 and models long-term sequelae from infection. Outcomes among those with HCV were also recently assessed in a linkage study assessing cancer and causes of death following HCV diagnosis in New South Wales. Linkage study outcomes have been used here to calibrate modelled outcomes. Mathematical models were used to estimate HCV incidence among IDUs, migrants to Australia from high HCV-prevalence countries, and other HCV exposure groups. Recent trends in numbers of IDUs were based on indicators of injecting drug use. A natural history of HCV model was applied to estimate the prevalence of HCV in the population. Model predicted endpoints that were calibrated against the NSW linkage data over the period 1995—2002 were: (i) incident hepatocellular carcinoma (HCC); (ii) opioid overdose deaths; (iii) liver-related deaths; and (iv) all-cause mortality. Modelled estimates and the linkage data show reasonably good calibration for HCC cases and all-cause mortality. The estimated HCC incidence was increased from 70 cases in 1995 to 100 cases in 2002. All-cause mortality estimated at 1000 in 1995 increased to 1600 in 2002. Comparison of annual opioid deaths shows some agreement. However, the models underestimate the rate of increase observed between 1995 and 1999 and do not entirely capture the rapid decrease in overdose deaths from 2000 onwards. The linkage data showed a peak of overdose deaths at 430 in 1999 compared to 320 estimated by the models. Comparison of observed liver deaths with the modelled numbers showed poor agreement. A good agreement would require an increase in liver deaths from the assumed 2 to 5% per annum following cirrhosis in the models. Mathematical models suggest that HCV incidence decreased from a peak of 14,000 infections in 1999 to 9700 infections in 2005, largely attributable to a reduction in injecting drug use. The poor agreement between projected and linked liver deaths could reflect differing coding of causes of deaths, underestimates of the numbers of people with cirrhosis following HCV, or underestimates of rates of liver death following cirrhosis. The reasonably good agreement between most of the modelled estimates with observed linkage data provides some support for the assumptions used in the models.
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Markova, Olga Mikhailovna. "Application of mathematical modeling in creating investment portfolio of commercial bank." Vestnik of Astrakhan State Technical University. Series: Economics 2019, no. 4 (December 16, 2019): 112–19. http://dx.doi.org/10.24143/2073-5537-2019-4-112-119.
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The article touches upon the most urgent problem of creating the stock portfolio
of a commercial bank, where studying the strategies and tools of the bank’s investment activity and using mathematical models for its assessment help to identify the relationship between profitability and the risk of investing in securities. As a result of applied analysis and modeling of the portfolio structure, the optimal portfolio option is selected, which corresponds to a given level of risk and profitability, as well as to the investment strategy chosen by the bank. There has been analyzed the portfolio structure with specified characteristics of risk and profitability, according to the statistics of previous years. The types of documents have been systematized according to the compliance with the strategy of managing the portfolio of profitability growth, liquidity and risk minimization. Using the models of Markowitz, Tobin and other researchers of probabilistic portfolio assessment through covariance indicators and a correlation coefficient, there have been found the values of return on assets that can change in one direction or have a multidirectional nature, and allow to calculate dependence between the values of return on securities in the portfolio. There have been considered the following models: a portfolio model based on calculating the level of stock returns of LUKOIL JSC, Novatek JSC, Yandex; a portfolio model that includes risk-free assets with the highest level of reliability (government short-term bonds, federal loan bonds); capital asset pricing model which describes dependency between the risk and the required profitability. Based on these calculations there has been inferred the possibility of developing specific areas of the banking business in the field of securities transactions, including: saving funds (providing protection against inflation); capital growth (focus on the securities that have the potential for growth in market value); profitability (purchasing securities in order to obtain dividends on shares and interest on debt securities); liquidity (investments into financial tools that can be sold at any time at favorable prices); risk minimization. The results of the conducted analysis of correlation and regression of the securities portfolio have revealed the most preferred types of securities for growing profitability that are in the bank's portfolio: shares of the Russian oil company LUKOIL, the Russian gas company Novatek, Yandex cIA, as well as the federal loan bonds (based on the terms of calculating history dynamics since May 1, 2018 up to May 1, 2019)
Dissertations / Theses on the topic "Dividends Australia Mathematical models"
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Lin, Erlu, and 林尔路. "Analysis of dividend payments for insurance risk models with correlated aggregate claims." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2008. http://hub.hku.hk/bib/B40203992.
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Powell, Robert. "Industry value at risk in Australia." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2007. https://ro.ecu.edu.au/theses/297.
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Value at Risk (VaR) models have gained increasing momentum in recent years. Market VaR is an important issue for banks since its adoption as a primary risk metric in the Basel Accords and the requirement that it is calculated on a daily basis. Credit risk modelling has become increasingly important to banks since the advent of Basel 11 which allows banks with sophisticated modelling techniques to use internal models for the purpose of calculating capital requirements. A high level of credit risk is often the key reason behind banks failing or experiencing severe difficulty. Conditional Value at Risk (CVaR) measures extreme risk, and is gaining popularity with the recognition that high losses are often impacted by a small number of extreme events.
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Jaforullah, Mohammad. "Energy modelling in a general equilibrium framework with alternative production specifications." Title page, contents and astract only, 1988. http://web4.library.adelaide.edu.au/theses/09PH/09phj23.pdf.
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Wildegger-Gaissmaier, Anna Elisabeth. "Fluidized bed utilization of South Australian coals." Title page, contents and abstract only, 1988. http://web4.library.adelaide.edu.au/theses/09PH/09phw672.pdf.
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Gao, Zhanhai School of Mathematics UNSW. "Modelling Human Immunodeficiency Virus and Hepatitis C Virus Epidemics in Australia." Awarded by:University of New South Wales. School of Mathematics, 2001. http://handle.unsw.edu.au/1959.4/18187.
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This thesis is concerned with the mathematical modelling for human immunodeficiency virus (HIV) and hepatitis C virus (HCV) epidemics in Australia. There are two parts to this thesis. Part I is aimed at modelling the transmission of HIV and HCV via needle sharing among injecting drug users (IDUs). The dynamical model of an epidemic through needle sharing among IDUs is derived. This model reveals the correlation between needle sharing and the epidemic prevalence among IDUs. The simulations of HIV and HCV prevalence and incidence among IDUs in Australia are made with this model. The comparison of simulated results with literature estimates shows that the modelled results are consistent with the literature estimates. The effects of needle sharing and cleaning on HIV and HCV prevalence and incidence among IDUs in Australia are evaluated. Part II is devoted to modelling the spread of HIV in the general community in Australia. A mathematical model is formulated to assess the epidemiological consequences of injecting drug use and sexual transmission in Australia. The effects of highly active antiretroviral therapies (HAART) on the HIV epidemic are included. The modelled results are in broad agreement with the literature estimates and observed data. The long-term effects of HAART are also discussed.
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Soucik, Victor. "Finding the true performance of Australian managed funds." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2002. https://ro.ecu.edu.au/theses/730.
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When making conclusions about the performance of managed funds, it is critical that the framework in which such performance is measured provides an accurate and unbiased environment. In this thesis I search for true performance of the two major classes of funds- equity as well as fixed interest managed funds. Focusing, first on the former class, I examine five measurement models across three risk-free proxies, nine benchmarks proposed by the extant literature (covering conditional and unconditional as well as single and multi factor definitions) and over three independent periods in an effort to identity (in a consistent setting) the most accurate and least biast methodology. I also use the Australian dataset, which inherently mitigates any data biases that may potentially afflict US studies of these methodologies, since these were developed from the same dataset on which they were later tested. Not finding a pre-existing benchmark that is objective yet informative, I develop an independent model that satisfies these, sourcing from fifteen factor candidates across four categories. I find that teaming up a fund based market factor with well-defined proxies for size, value, momentum and conditional dividend yield provides the optimal benchmark. The latter class comprising fixed-interest managed funds is a segment left largely unexplored in the financial literature and neglected outright in the Australian context. I examine three risk-free proxies, six benchmark classes encompassing twenty-one potential factors, across five models and two independent time frames in an effort to establish the most informative and least biased setting. The task is complicated by two issues - an acute lack of Australian data (demanding additional bootstrap simulations and bridging tests with the US markets) and the need for a two-pass (time-series and cross-sectional) analysis, arising from the different information content benchmarks carry in these two dimensions. My results, consistent across time, show that a correct combination of a bond market variable, a mixture of interest rate factors and economic factors as well as the proxy for movements in the equity markets yield the optimal benchmark. Both fund classes point to Jensen's Alpha as the preferred model, but Treynor and Mazuy's definition of a quadratic measure is adequate if timing-selectivity separation is required. Neither class is significantly sensitive to the choice of risk free proxy featuring in the performance measures.
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Dennis, Kevin. "A mathematical model to describe haemophilus influenzae type B within Western Australia." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 1995. https://ro.ecu.edu.au/theses/1160.
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This work is primarily aimed at determining the effect that an immunisation policy Is likely to have on the incidence of Haemophllus influenzae Type B (HIB) and systematic HIB in Western Australia. There was a significant effort made to collect data pertinent to the estimation of parameter values but since HIB has only been a notifiable disease since 1992, there was a distinct lack of relevant data available. Private communication with individual’s such as Dr Jeffrey Hanna and Dr Beryl Wild resulted in practical information being obtained that was used to estimate certain parameters. The deterministic mathematical models within the thesis are extensions of existing ideas tailored to suit the needs of this thesis. Chapter one is a basic introduction to the pursuit of modelling infectious diseases with a brief description of basic epidemiology concepts. It also shows that even simple models may not deliver analytical results. Chapter two extends a model used by Angela Mclean and allows some analytical results to be obtained by first simplifying the model and then solving using standard methods to give the equilibrium distributions for the proportions of people in each state within the model
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Ernst, Wolfgang F. "The economic rationale for stochastic urban transport models and travel behaviour : a mathematical programming approach to quantitative analysis with Perth data." UWA Business School, 2003. http://theses.library.uwa.edu.au/adt-WU2005.0004.
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[Formulae and special characters can only be approximated here. Please see the pdf version of the abstract for an accurate reproduction.] This thesis reviews, extends and applies to urban traffic analysis the entropy concept of Shannon and Luce's mathematical psychology in a fairly complex and mathematically demanding model of human decision making, if it is solved as a deeply nested structure of logit calculus. Recognising consumers' different preferences and the universal propensity to seek the best choice when going to some desired goal (k), a transparent mathematical program (MP) is developed: the equivalent of a nested multinomial logit model without its inherent computational difficulty. The MP model makes a statistical assessment of individual decisions based on a randomised (measurable) utility within a given choice structure: some path through a diagram (Rk, Dk), designed a priori, of a finite number of sequential choices. The Equivalence Theorem (ET) formalises the process and states a non-linear MP with linear constraints that maximises collective satisfaction: utility plus weighted entropy, where the weight (1/θn) is a behavioural parameter to be calibrated in each case, eg for the Perth CBD. An optimisation subject to feasible routes through the (Rk, Dk) network thus captures the rational behaviour of consumers on their individually different best-choice decision paths towards their respective goals (k). This theory has been applied to urban traffic assignment before: a Stochastic User Equi-librium (SUE). What sets this thesis apart is its focus on MP models that can be solved with standard Operations Research software (eg MINOS), models for which the ET is a conditio sine qua non. A brief list of SUE examples in the literature includes Fisk's logit SUE model in (impractically many) route flows. Dial's STOCH algorithm obviates path enumeration, yet is a logit multi-path assignment procedure, not an MP model; it is nei-ther destination oriented nor an optimisation towards a SUE. A revision of Dial's method is provided, named STOCH[k], that computes primal variables (node and link flows) and Lagrangian duals (the satisfaction difference n→k). Sheffi & Powell presented an unconstrained optimisation problem, but favoured a probit SUE, defying closed formulae and standard OR software. Their model corresponds to the (constrained) dual model here, yet the specifics of our primary MP model and its dual are possible only if one restricts himself to logit SUE models, including the ET, which is logit-specific. A real world application needs decomposition, and the Perth CBD example is iteratively solved by Partial Linearisation, switching from (measured) disutility minimisation to Sheffi & Powell's Method of Successive Averages near the optimum. The methodology is demonstrated on the Perth Central Business District (CBD). To that end, parameter Θ is calibrated on Main Roads' traffic count data over the years 1997/98 and 1998/99. The method is a revision of Liu & Fricker's simultaneous estimation of not only Θ but an appropriate trip matrix also. Our method handles the more difficult variable costs (congestion), incomplete data (missing observations) and observation errors (wrong data). Finally, again based on Main Roads' data (a sub-area trip matrix), a Perth CBD traffic assignment is computed, (a) as a logit SUE and - for comparison - (b) as a DUE (using the PARTAN method of Florian, Guélat and Spiess). The results are only superficially similar. In conclusion, the methodology has the potential to replace current DUE models and to deepen transport policy analysis, taking into account individual behaviour and a money-metric utility that quantifies 'social benefits', for instance in a cost-benefit-analysis.
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O???Brien, Peter Banking & Finance Australian School of Business UNSW. "Term structure modelling and the dynamics of Australian interest rates." Awarded by:University of New South Wales. School of Banking and Finance, 2006. http://handle.unsw.edu.au/1959.4/28283.
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This thesis consists of two related parts. In the first part we conduct an empirical examination of the dynamics of Australian interest rates of six different maturities, covering the whole yield curve. This direct study of the long rates is quite novel. We use maximum likelihood estimation on a variety of models and find some results that are in stark contrast to previous studies. We estimate Poisson-jump diffusion (PJD) models and find very strong evidence for the existence of jumps in all daily interest rate series. We find that the PJD model fits short-rate data significantly better than a Bernoulli-jump diffusion model. We also estimate the CKLS model for our data and find that the only model not rejected for all six maturities is the CEV model in stark contrast to previous findings. Also, we find that the elasticity of variance estimate in the CKLS model is much higher for the short-rates than for the longer rates where the estimate is only about 0.25, indicating that different dynamics seem to be at work for different maturities. We also found that adding jumps to the simple diffusion model gives a larger improvement than comes from going from the simple diffusion to the CKLS model. In the second part of the thesis we examine the Flesaker and Hughston (FH) term structure model. We derive the dynamics of the short rate under both the original measure and the risk-neutral measure, and show that some criticisms of the bounds for the short rate may not be significant in actual applications. We also derive the dynamics of bond prices in the FH model and compare them to the HJM model. We also extend the FH model by allowing the martingale to follow a jump-diffusion process, rather than just a diffusion process. We derive the unique change of measure that guarantees the family of bond prices is arbitrage-free. We derive prices for caps and swaptions, and extend the results to include Bermudan swaptions and show how to price options with the jump-diffusion version of the FH model.
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Carter, Robert C. (Robert Charles) 1950. "The macro economic evaluation model (MEEM) : an approach to priority setting in the health sector." Monash University, Dept. of Management, 2001. http://arrow.monash.edu.au/hdl/1959.1/8672.
Full textBooks on the topic "Dividends Australia Mathematical models"
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E, Allen D. The relationship between stock prices and dividends: Evidence from the Australian stock market. Perth, W.A: Edith Cowan University, Faculty of Business, School of Economics and Finance, 1996.
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Allen, D. E. Excess volatility and the short run modelling of Australian stock prices. Perth, W.A: Edith Cowan University, Faculty of Business, School of Economics and Finance, 1996.
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Gordon, Roger H. Dividends and taxes. Cambridge, Mass: National Bureau of Economic Research, 2006.
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Hartmann-Wendels, Thomas. Dividendenpolitik bei asymmetrischer Informationsverteilung. Wiesbaden: Gabler, 1986.
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Ang, James S. Do dividends matter?: A review of corporate dividend theories and evidence. New York: Salomon Brothers Center for the Study of Financial Institutions, 1987.
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Ang, James S. Do dividends matter?: A review of corporate dividend theories and evidence. [New York]: Salomon Brothers Center for the Study of Financial Institutions, Graduate School of Business Administration, New York University, 1987.
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Cochrane, John H. The dog that did not bark: A defense of return predictability. Cambridge, Mass: National Bureau of Economic Research, 2006.
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Han, Dong. Dividend policy under conditions of capital market and signaling equilibria. [Urbana, Ill.]: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, 1986.
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Han, Dong. Dividend policy under conditions of capital market and signaling equilibria. [Urbana, Ill.]: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, 1986.
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Han, Dong. Dividend policy under conditions of capital market and signaling equilibria. [Urbana, Ill.]: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, 1986.
Find full textConference papers on the topic "Dividends Australia Mathematical models"
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Lučić, Sonja. "VEŠTAČKA INTELIGENCIJA I PATENTNO PRAVO." In XVIII Majsko savetovanje. University of Kragujevac, Faculty of Law, 2022. http://dx.doi.org/10.46793/xviiimajsko.479l.
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Artificial intelligence is a field of technology that is developing intensively. Along with the development of artificial intelligence, the issue of its patent protection has become topical. Artificial intelligence systems are based on highly developed algorithms and mathematical models, phenomena with which patent law is traditionally in conflict. This issue is not just a national or European problem. There is also an intensive debate in the United States about the patentability of artificially intelligent systems. The author deals with the question of whether artificially intelligent systems can enjoy patent protection. The paper analyzes the case of "DABUS" which refers to an international patent application in which the artificially intelligent system DABUS is listed as the inventor. Numerous intellectual property offices around the world (eg American, British, German, Australian, EPO) have rejected such a patent application. On the other hand, the Federal Court of Australia has ruled that under the Australian Patent Act AI could be listed as the inventor. Recognition of AI as the inventor (not the owner) of inventions generated by artificial intelligence can have certain consequences, including in the field of copyright.