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For an insurance company with reserve modelled by a spectrally negative L\u00e9vy process having finite first-order moment, we study the optimal<jats:italic>impulse dividend and capital injection<\/jats:italic>(IDCI) strategy for maximizing the expected accumulated discounted net dividend payment subtracted by the accumulated discounted cost of injecting capital. In this setting, the beneficiary of the dividends injects capital to ensure a non-negative risk process so that the insurer never goes bankrupt. The optimal IDCI strategy together with its value function is obtained. Besides, two numerical examples are provided to illustrate the features of the optimal strategies. The impacts of model parameters are also studied.<\/jats:p>","DOI":"10.1007\/s10957-022-02057-4","type":"journal-article","created":{"date-parts":[[2022,6,27]],"date-time":"2022-06-27T14:03:57Z","timestamp":1656338637000},"page":"924-965","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":14,"title":["Dividend and Capital Injection Optimization with Transaction Cost for L\u00e9vy Risk Processes"],"prefix":"10.1007","volume":"194","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-2838-3379","authenticated-orcid":false,"given":"Wenyuan","family":"Wang","sequence":"first","affiliation":[]},{"given":"Yuebao","family":"Wang","sequence":"additional","affiliation":[]},{"given":"Ping","family":"Chen","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3848-9078","authenticated-orcid":false,"given":"Xueyuan","family":"Wu","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2022,6,27]]},"reference":[{"issue":"2","key":"2057_CR1","doi-asserted-by":"publisher","first-page":"295","DOI":"10.1007\/BF03191909","volume":"103","author":"H Albrecher","year":"2009","unstructured":"Albrecher, H., Thonhauser, S.: Optimality results for dividend problems in insurance. 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