In increasingly competitive business environments, many organizations adopt the strategic planning approach to strive for business excellence. On the other hand achievement and implementation of strategies can perform an important role for the purpose of organizations' success. Balanced...

We consider the problem of optimal investment in a market with two cointegrated stocks and an agent with CRRA utility. We extend the findings of Liu and Timmermann [The Review of Financial Studies, 26(4):1048-1086, 2013] by paying special attention to when/if the associated stochastic control...