This research paper throws light on the relationship between the corporate governance and Firm financial performance in Cement industry of Pakistan. This study gives attention to three variables which include board Size, Family controlled firms, and CEO duality. Firm’s performance is measured...

The aim of this paper is to investigate the issue of R&D investment and the market value of the firm. This idea dating back from Arrow paper, later developed by Paul Romer but in the area of economic growth. Zvi Griliches (1979), first introduced the production function, which later would be...

In this paper, a stochastic endogenous aggregative growth model is constructed and two main results are established, based on endogenous horizon of the economy and endogenous terminal capital stock, which is also efficient capital accumulation in some sense. First, strong turnpike theorems under...

We present an application of the Dynamic Programming (DP) and of the Maximum Principle (MP) to solve an optimization over time when the production function is linear in the stock of capital (Ak model). Two views of capital are considered. In one, which is embraced by the great majority of...

We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...

Two main problems have been emerging in supply chain management: the increasing pressure to reduce working capital and the growing variety of products. Most of the popular indicators have been developed based on a controlled environment. A new indicator is now proposed, based on the uncertainty...

In the article we present some extension for the classical problem of dynamic investment optimization. We take the neoclassical model of growth with one product and many consumption goods. The number of consumption goods can be infinite and the consumption bundle is defined on some abstract,...

Empirical data show during the historical process of economic development profound structural changes in economy. One of the most important movements is from stages where the so-called tangible investments are predominant to those where intangible investments become predominant. Applying some...

In the current paper, a dynamically complete financial market with finite and countable heterogeneous investors has been constructed. Self-dynamic game is defined, that is, the investors determine the optimal bankruptcy time first, and then the optimal portfolio policy. Sub-game perfect Nash...