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This work is aimed at analysing the optimal management by a producer who may redistribute the income to expand production or to pay dividends. There is external investment provided in the beginning and over the planning period of time these funds should be paid back to the external investor. The management problem is formulated as an optimal control problem with an inequality type constraint on both state and control. The necessary optimality conditions are analysed to find out the property of the solution. Numerical analysis of this problem is used to verify the properties of the solution.

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Optimal Timing of Investment and Debt Payment in Production Expansion with the Use of External Financing

  • 会议论文

  • 发表日期：

    2025年

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  • Anna Flerova,
  • Aleksandra Zhukova

摘要

This work is aimed at analysing the optimal management by a producer who may redistribute the income to expand production or to pay dividends. There is external investment provided in the beginning and over the planning period of time these funds should be paid back to the external investor. The management problem is formulated as an optimal control problem with an inequality type constraint on both state and control. The necessary optimality conditions are analysed to find out the property of the solution. Numerical analysis of this problem is used to verify the properties of the solution.