Optimal Dividends and Corporate Growth Under Uncertainty

1 February 1964

journal article
Published by Oxford University Press (OUP) in The Quarterly Journal of Economics

Vol. 78 (1) , 49-95
https://doi.org/10.2307/1880545

Abstract

Introduction, 49. — I. Some important definitions and building-blocks, 53. — II. The cost of capital and optimal dividends and growth under certainty, 58. — III. Simple stochastic unlevered growth, 65. — IV. Optimal (expectationally) steady growth, capital budgets, dividends and retentions, when σ²_pt increases with futurity, 76. — V. Summary of conclusions, 91.

Keywords

OPTIMAL
BUILDING
DIVIDENDS
INTRODUCTION
UNCERTAINTY
STOCHASTIC
BLOCKS
BUDGETS
UNLEVERED

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