Publications associées à Coût moyen pondéré du capital

A (2+epsilon)-Approximation Algorithm for Preemptive Weighted Flow Time on a Single Machine

Weighted flow time is a fundamental and very well-studied objective function in scheduling. In this paper, we study the setting of a single machine with preemptions. ...

ASSOC COMPUTING MACHINERY2021

Three Essays in Banking and Finance

Damien Olivier Klossner

This thesis develops three models that study the motivation of various agents to take on debt, and the impact that excessive financial leverage can have on social welfare. In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...

EPFL2019

Prism-based path set restriction for solving Markovian traffic assignment problem

Yuki Oyama

This paper deals with a main limitation of Markovian traffic assignment (MTA) models: when the network includes cyclic structures and the link costs are small enough, the fact that the MTA models assign traffic flows to all feasible paths causes computatio ...

Elsevier2019

Essays in Corporate Finance

Thomas Antonius Geelen

In this thesis I study how firms choose their optimal debt maturity. The recent financial crisis illustrated why debt maturity is an important determinant of firmsâ capital structure and it also renewed economistsâ interest in this topic, see for examp ...

EPFL2018

Replicating portfolio approach to capital calculation

Mathieu Jacques David Cambou, Damir Filipovic

The replicating portfolio (RP) approach to the calculation of capital for life insurance portfolios is an industry standard. The RP is obtained from projecting the terminal loss of discounted asset–liability cash flows on a set of factors generated by a fa ...

2018

Robust multi-objective optimization of solid oxide fuel cell–gas turbine hybrid cycle and uncertainty analysis

François Maréchal, Shivom Sharma

Chemical process optimization problems often have multiple and conflicting objectives, such as capital cost, operating cost, production cost, profit, energy consumptions and environmental impacts. In such cases, Multi-Objective Optimization (MOO) is suitab ...

2018

Cooperative Data Exchange with Weighted Cost based on d-Basis Construction

Michael Christoph Gastpar, Su Li, Abhin Shah

We consider the cooperative data exchange problem, in which nodes are fully connected with each other. Each node initially only has a subset of the K packets making up a file and wants to recover the whole file. Node i can make a broadcast transmission, wh ...

2017

Methodology for the optimal design of an integrated sugarcane distillery and cogeneration process for ethanol and power production

François Maréchal, Rami Bechara, Jean-Marc Schweitzer

The application of systematic methodologies for the optimal design of integrated processes has seen increased interest in literature, namely for bioprocesses. The development and application of such a methodology to ethanol and power production from sugarc ...

Pergamon-Elsevier Science Ltd2016

Multi-objective Optimization of Solid Oxide Fuel Cell–Gas Turbine Hybrid Cycle and Uncertainty Analysis

François Maréchal, Shivom Sharma, Emanuela Peduzzi, Ayse Dilan Celebi

Chemical process optimization problems often have multiple and conflicting objectives, such as capital cost, operating cost, production cost, profit, energy consumption and environmental impact. There are several conversion technologies that can convert Sy ...

University of Ljubljana2016

Credit Supply and the Macroeconomy : An Empirical Analysis of Capital Regulation, Bank Lending, and Firm Behavior

Abhik Mukherjee

The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...

EPFL2016

The effects of business cycle and debt maturity on a firm's investment and default decisions

Michi Nishihara

We propose a model that jointly determines the capital structure and investment decisions taking business cycle and debt maturity into account. It endogenously determines the triggers of investment/disinvestment and default, which depend on the state of th ...

Elsevier Science Bv2015

Credit market frictions and capital structure dynamics

Semyon Malamud, Erwan Morellec, Julien Hugonnier

We study the implications of credit market frictions for the dynamics of corporate capital structure and the risk of default of corporations. To do so, we develop a dynamic capital structure model in which firms face uncertainty regarding their ability to ...

2015

Essays in Empirical Corporate Finance

Stefano Colonnello

This dissertation consists of three chapters. The first chapter examines whether the availability of credit default swaps (CDS) has consequences for creditor governance. CDSs offer creditors the opportunity to hedge credit risk and may impact their willing ...

EPFL2015

Inventory Leanness and the Financial Performance of the Firm

Ralf Seifert, Olov Isaksson

This paper examines the financial consequences that inventory leanness has on firm performance. We conduct an econometric analysis using 4324 publicly traded US manufacturing companies for the period 1980-2008. Using an instrumental variable fixed effects ...

2014

Inventory Management with Working Capital Restrictions

Cristopher Ariel Zeballos Avila

Working capital restrictions can have disruptive effects on the coordination of the operations and finances of a company. Working capital restrictions may limit the inventory ordering power, reduce revenues, and increase the use of high premium debt. It ma ...

EPFL2013

Credit Market Frictions and Capital Structure Dynamics

Semyon Malamud, Erwan Morellec, Julien Hugonnier

We study the implications of credit market frictions for the dynamics of corporate capital structure and the risk of default of corporations. To do so, we develop a dynamic capital structure model in which firms face uncertainty regarding their ability to ...

2012

Anti-uniform Huffman codes

In this study, the authors consider the class of anti-uniform Huffman (AUH) codes. The authors derived tight lower and upper bounds on the average codeword length, entropy and redundancy of finite and infinite AUH codes in terms of the alphabet size of the ...

2011

Dynamic investment and financing under personal taxation

Erwan Morellec, Norman Schuerhoff

This paper examines the effects of capital gains taxation on firms’ investment and financing decisions. We develop a real options model in which the timing of investment, the decision to default, and the firm’s capital structure are endogenously and jointl ...

2010

On the debt capacity of growth options

Erwan Morellec

We relate the value of growth options in the firm's investment opportunity set to the level of debt in the firm's capital structure. Underinestment costs of debt increase and free cash flow benefits fall with additional growth options. Thus, if debt capaci ...

2006

Capital structure, credit risk, and macroeconomic conditions

Erwan Morellec

This paper develops a framework for analyzing the impact of macroeconomic conditions on credit risk and dynamic capital structure choice. We begin by observing that when cash flows depend on current economic conditions, there will be a benefit for firms to ...

2006