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Décisions de stockage, risque et coût du capital : essai de formalisation

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  • Bruno Cariou

Abstract

[eng] Inventory decisions, risk and the cost of capital. . In the large literature concerning inventory decisions to be made by a firm, authors have not really tried to analyse the role of financial factors in these decisions. Assuming very simple financial hypotheses, we propose in this work a firm's decision model showing how the cost of capital influences the firm's inventory decisions. We assume uncertainty, and consider the risk-averse and risk-neutral cases. [fre] Décisions de stockage, risque et coût du capital. Essai de formalisation. . Bien que la littérature consacrée aux décisions de stockage d'une entreprise soit abondante, les auteurs n'ont jusqu'ici accordé que très peu de place à l'analyse du rôle des facteurs financiers dans ces décisions. Dans le cadre d'hypothèses très simples sur le financement, nous proposons dans ce travail un modèle de comportement de l'entreprise montrant comment le coût du capital intervient dans les décisions de stockage. L'analyse est développée en supposant que les résultats des décisions de l'entreprise sont incertains, et l'on distingue le cas où l'entreprise a de l'aversion pour le risque et celui où elle est neutre vis-à-vis de celui-ci.

Suggested Citation

  • Bruno Cariou, 1988. "Décisions de stockage, risque et coût du capital : essai de formalisation," Revue Économique, Programme National Persée, vol. 39(2), pages 349-368.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1988_num_39_2_409067
    DOI: 10.3406/reco.1988.409067
    Note: DOI:10.3406/reco.1988.409067
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    References listed on IDEAS

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    1. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 25(2), pages 65-86.
    2. James Tobin, 1969. "Comment on Borch and Feldstein," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(1), pages 13-14.
    3. Hay, George A, 1970. "Production, Price, and Inventory Theory," American Economic Review, American Economic Association, vol. 60(4), pages 531-545, September.
    4. William W. Damon & Richard Schramm, 1972. "A Simultaneous Decision Model for Production, Marketing and Finance," Management Science, INFORMS, vol. 19(2), pages 161-172, October.
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