Chance‐Constrained Financing as a Response to Financial Risk
针对决策者将金融风险视为安全优先的问题，提出在多期线性规划中对债务资产比率施加概率约束的模型，并给出数值示例，可推广至其他财务指标。
Abstract The results of a recent survey suggest that many decision makers view financial risk in a safety‐first context. Imposing safety‐first chance constraints on potential financial ratios or flows can be difficult with traditional methods. This is particularly true with financial ratios when both the numerator and denominator are random and are affected by endogenous decisions. A model and numerical example are presented which enforce probabilistic or chance constraints upon potential debt/asset ratios in a multiperiod linear program. The model can be easily modified to probabilistically constrain alternative financial performance measures such as current ratios, working ratios, or cash flows.