The Value of Tax Shields Depends Only on the Stochastic Process of the Net Increase of Debt

2005 ◽  
Author(s):  
Pablo Fernandez
Keyword(s):  
Stochastic Process ◽  
Tax Shields

Integrated Fractional white Noise as an Alternative to Multifractional Brownian Motion

2007 ◽  
Vol 44 (02) ◽  
pp. 393-408 ◽  
Author(s):  
Allan Sly
Keyword(s):  
Stochastic Process ◽  
Brownian Motion ◽  
White Noise ◽  
Gaussian Process ◽  
Discrete Data ◽  
Hölder Exponent ◽  
Scaling Properties ◽  
Multifractional Brownian Motion ◽  
Local Properties

Multifractional Brownian motion is a Gaussian process which has changing scaling properties generated by varying the local Hölder exponent. We show that multifractional Brownian motion is very sensitive to changes in the selected Hölder exponent and has extreme changes in magnitude. We suggest an alternative stochastic process, called integrated fractional white noise, which retains the important local properties but avoids the undesirable oscillations in magnitude. We also show how the Hölder exponent can be estimated locally from discrete data in this model.

Matching as a Stochastic Process

2013 ◽  
Author(s):  
Friedel Bolle ◽  
Philipp E. Otto
Keyword(s):  
Stochastic Process

(Re-)Financing Policies and the Value of Debt-Related Tax Shields

2015 ◽  
Author(s):  
Sven Arnold ◽  
Alexander D.F. Lahmann ◽  
Bernhard Schwetzler
Keyword(s):  
Financing Policies ◽  
Tax Shields
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