The Dynamics of Capital Structure: An Empirical Analysis of a Partially Observable System

2002 ◽  
Author(s):  
Michael R. Roberts
Keyword(s):  
Capital Structure ◽  
Empirical Analysis ◽  
Observable System ◽  
Partially Observable System ◽  
Partially Observable

Filtering method for linear and non-linear stochastic optimal control of partially observable systems

Filomat ◽  
2017 ◽  
Vol 31 (19) ◽  
pp. 5979-5992 ◽  
Author(s):  
A. Delavarkhalafi ◽  
A. Poursherafatan
Keyword(s):  
Optimal Control ◽  
Stochastic Optimal Control ◽  
Heuristic Method ◽  
Control Factor ◽  
Filtering Method ◽  
Observable System ◽  
State Process ◽  
Non Linear ◽  
Partially Observable System ◽  
Partially Observable

This paper studies two linear methods for linear and non-linear stochastic optimal control of partially observable problem (SOCPP). At first, it introduces the general form of a SOCPP and states it as a functional matrix. A SOCPP has a payoff function which should be minimized. It also has two dynamic processes: state and observation. In this study, it is presented a deterministic method to find the control factor which has named feedback control and stated a modified complete proof of control optimality in a general SOCPP. After finding the optimal control factor, it should be substituted in the state process to make the partially observable system. Next, it introduces a linear filtering method to solve the related partially observable system with complete details. Finally, it is presented a heuristic method in discrete form for estimating non-linear SOCPPs and it is stated some examples to evaluate the performance of introducing methods.

Capital Structure and Earnings per Share: An Empirical Analysis of Indian Corporate Sector

2015 ◽  
Vol 5 (3) ◽  
Author(s):  
Harvinder Singh Mand ◽  
Manjit Singh
Keyword(s):  
Capital Structure ◽  
Empirical Analysis ◽  
Corporate Sector ◽  
Independent Variables ◽  
Earnings Per Share ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact ◽  
The Relationship ◽  
The Empirical Analysis

This paper intends to measure the impact of capital structure on EPS (earnings per share) in Indian corporate sector. Fifteen control variables along with capital structure have been selected to know their impact on EPS. Panel data regression has been applied to establish the relationship among dependent and independent variables. It is found from the empirical analysis that the relation of capital structure with EPS has been statistically insignificant in Indian corporate sector among all specific industries except telecommunication industry. The results are consistent with Modigliani-Miller approach.

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