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Multiplicative Decomposition of Non-Singular Matrix Valued Continuous Semimartingales

Multiplicative Decomposition of Non-Singular Matrix Valued Continuous Semimartingales

It is shown that a nonsingular matrix valued continuous semimartingale can be decomposed uniquely as a product of a continuous local martingale and a continuous process of locally bounded variation. An "integration by parts" formula for the multiplicative stochastic integral is also obtained.