Purpose – The purpose of this paper is to analyze the sustainability of Credit Non-Governmental Organizations (CNGOs) such as DAYBANG. Design/methodology/approach – This paper investigates and describes the operating details, through the web, of DAYBANG using SWOT analysis. Findings – By...

Purpose – The purpose of this paper is to analyze the sustainability of Credit Non‐Governmental Organizations (CNGOs) such as DAYBANG. Design/methodology/approach – This paper investigates and describes the operating details, through the web, of DAYBANG using SWOT analysis. Findings – By...

In delegated portfolio management, we formulate a central-planned portfolio selection problem by multi-objective programming (utilities of the investor and the manager) to study the Pareto optimal portfolio and find Pareto improvement. First, we solve out two cases of the closed-form Pareto...

This paper studies the optimization problem of DC pension plan under mean–variance criterion. The financial market consists of cash, bond and stock. Similar to Guan and Liang (2014), we assume that the instantaneous interest rate is an affine process including the Cox–Ingersoll–Ross (CIR)...

We consider an optimal impulse control problem on reinsurance, dividend and reinvestment of an insurance company. To close reality, we add fixed and proportional transaction costs to this problem. The value of the company is associated with expected present value of net dividends pay out minus...

In this paper, we investigate an optimal reinsurance and investment problem for an insurer whose surplus process is approximated by a drifted Brownian motion. Proportional reinsurance is to hedge the risk of insurance. Interest rate risk and inflation risk are considered. We suppose that the...

We study a principal-agent problem of two general S-shaped utilities without explicit expressions, where the two parties have different reference points. The problem typically stands in the context of asset management with motivation to safeguard the benefit of the principal. After a thorough...

This paper considers an optimal control of a big financial company with debt liability under bankrupt probability constraints. The company, which faces constant liability payments and has choices to choose various production/business policies from an available set of control policies with...