The purpose of this paper is to establish a generalized dynamical framework for small and micro-enterprise (SME) growth in the tech-economic paradigm, and develop a novel quantitative method for the decision-making of optimal equity and capital structure under the measurement of dynamical risk profiles. Based on the numerical simulations in different scenarios, we systematically study the dependence of SME growth performance on various factors, including capital structure, investment preference, and internal risk level, and find that dynamical optimal equity structure always corresponds to the better performance on value at response risks, and significantly reduces the bilateral cooperative risk at the inconspicuous cost of systematic response risk. Moreover, it is also observed that SME state behaves some important nonmonotonous features, such as stochastic resonance with internal risk level, generalized stochastic resonance with operating capital leverage. These results will provide the latent support for SMEs to create useful decision rules in capital optimization, risk management, and growth path regulation.

中文翻译：

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基于动态风险状况的最优股权和资本结构决策：中小企业成长的Langevin系统框架

本文的目的是在技术经济范式中建立小微企业 (SME) 增长的广义动力学框架，并开发一种新的量化方法，用于在衡量指标的情况下进行最优股权和资本结构的决策。动态风险概况。基于不同情景下的数值模拟，我们系统地研究了中小企业成长绩效对资本结构、投资偏好、内部风险水平等各种因素的依赖，发现动态最优股权结构总是对应于更好的价值表现。响应风险，并以不显眼的系统响应风险为代价，显着降低双边合作风险。此外，还观察到 SME 状态表现出一些重要的非单调特征，例如具有内部风险水平的随机共振，具有运营资本杠杆的广义随机共振。这些结果将为中小企业在资本优化、风险管理和增长路径调节方面创建有用的决策规则提供潜在支持。