Sustainable Financial Planning using an Optimization Approach

Martín Valmayor, Miguel Ángel ^[1] ; Romero Cuadrado, María ^[2] ; Romero, Luis ^[2]
1. [1] Universidad Francisco de Vitoria
  
  Universidad Francisco de Vitoria
  
  Pozuelo de Alarcón, España
2. [2] Universidad Nacional de Educación a Distancia
  
  Universidad Nacional de Educación a Distancia
  
  Madrid, España
Localización: Revista Internacional Jurídica y Empresarial: RIJE, ISSN-e 2531-0054, Nº. 1, 2017 (Ejemplar dedicado a: Confianza), págs. 59-73
Idioma: inglés
Títulos paralelos:
- Un modelo de Planificación Financiera Sostenible, a través de un proceso de optimización
Enlaces
- Texto completo

Resumen
- español
  El propósito del artículo es proponer un modelo sostenible de planificación financiera, a partir del cumplimiento de una serie de objetivos corporativos. El planteamiento en este sentido, es el de la optimización simultánea de estos objetivos a partir de las técnicas de optimización multicriterio
- English
  The main purpose of this paper is to propose a sustainable model in the Financial Planning discipline, by applying a multi-objective optimization process when setting the different corporate objectives. With this purpose, a mathematical programming model is proposed, valid for determining optimal global strategies based on a general set of objectives as asset optimization, return, cash flows or shareholder dividend, where decision variables are the changes in the patrimonial masses of the balance sheet. Given the great number of possible strategies to fit this model, an optimal subset of this set is selected by formulating an extension of the optimal Compromise Programming approach, where instead of optimizing one by one each different objective and looking for an iterative approach to target all objectives, it optimizes all objectives al the same time within the problem limits, by looking for optimum and sustainable compromise solutions regarding all objectives. The applicability of this process is illustrated with an example corresponding to a Spanish company listed in IBEX35 stock index.