Michael Pavlin

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The multi-processor total tardiness problem (MPTTP) is an AE È-hard scheduling problem, in which the goal is to minimise the tardiness of a set of jobs that are processed on a number of processors. Exact algorithms like branch and bound have proven to be impractical for the MPTTP, leaving stochastic local search (SLS) algorithms as the main alternative to(More)
We develop a dynamic model in which rms choose their optimal nancing, investment, dividends and cash holdings while facing risky debt, costly equity issuance and taxed interest on cash balances. We numerically solve the model to estimate the optimal level of cash holdings. Comparing these results with a large sample of U.S. rms from 1987 to 2005, we show(More)
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