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management performance</title> <meta name="description" content="Search results for: portfolio management performance"> <meta name="keywords" content="portfolio management performance"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="portfolio management performance"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 21005</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: portfolio management performance</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21005</span> Interaction between Mutual Fund Performance and Portfolio Turnover</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sheng-Ching%20Wu">Sheng-Ching Wu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the interaction between mutual fund performance and portfolio turnover. Active trading could affect fund performance, but underperforming funds could also be traded actively at the same time to perform well. Therefore, we used two-stage least squares to address with simultaneity. The results indicate that funds with higher portfolio turnovers exhibit inferior performance compared with funds having lower turnovers. Moreover, funds with poor performance exhibit higher portfolio turnover. The findings support the assumptions that active trading erodes performance, and that fund managers with poor performance attempt to trade actively to retain employment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mutual%20funds" title="mutual funds">mutual funds</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20turnover" title=" portfolio turnover"> portfolio turnover</a>, <a href="https://publications.waset.org/abstracts/search?q=simultaneity" title=" simultaneity"> simultaneity</a>, <a href="https://publications.waset.org/abstracts/search?q=two-stage%20least%20squares" title=" two-stage least squares"> two-stage least squares</a> </p> <a href="https://publications.waset.org/abstracts/8033/interaction-between-mutual-fund-performance-and-portfolio-turnover" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/8033.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">442</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21004</span> Mathematical Model of Corporate Bond Portfolio and Effective Border Preview</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sergey%20Podluzhnyy">Sergey Podluzhnyy</a> </p> <p class="card-text"><strong>Abstract:</strong></p> One of the most important tasks of investment and pension fund management is building decision support system which helps to make right decision on corporate bond portfolio formation. Today there are several basic methods of bond portfolio management. They are duration management, immunization and convexity management. Identified methods have serious disadvantage: they do not take into account credit risk or insolvency risk of issuer. So, identified methods can be applied only for management and evaluation of high-quality sovereign bonds. Applying article proposes mathematical model for building an optimal in case of risk and yield corporate bond portfolio. Proposed model takes into account the default probability in formula of assessment of bonds which results to more correct evaluation of bonds prices. Moreover, applied model provides tools for visualization of the efficient frontier of corporate bonds portfolio taking into account the exposure to credit risk, which will increase the quality of the investment decisions of portfolio managers. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20bond%20portfolio" title="corporate bond portfolio">corporate bond portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=default%20probability" title=" default probability"> default probability</a>, <a href="https://publications.waset.org/abstracts/search?q=effective%20boundary" title=" effective boundary"> effective boundary</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization%20task" title=" portfolio optimization task"> portfolio optimization task</a> </p> <a href="https://publications.waset.org/abstracts/59174/mathematical-model-of-corporate-bond-portfolio-and-effective-border-preview" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/59174.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">318</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21003</span> A Comparative Analysis of Global Minimum Variance and Naïve Portfolios: Performance across Stock Market Indices and Selected Economic Regimes Using Various Risk-Return Metrics</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lynmar%20M.%20Didal">Lynmar M. Didal</a>, <a href="https://publications.waset.org/abstracts/search?q=Ramises%20G.%20Manzano%20Jr."> Ramises G. Manzano Jr.</a>, <a href="https://publications.waset.org/abstracts/search?q=Jacque%20Bon-Isaac%20C.%20Aboy"> Jacque Bon-Isaac C. Aboy</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study analyzes the performance of global minimum variance and naive portfolios across different economic periods, using monthly stock returns from the Philippine Stock Exchange Index (PSEI), S&P 500, and Dow Jones Industrial Average (DOW). The performance is evaluated through the Sharpe ratio, Sortino ratio, Jensen’s Alpha, Treynor ratio, and Information ratio. Additionally, the study investigates the impact of short selling on portfolio performance. Six-time periods are defined for analysis, encompassing events such as the global financial crisis and the COVID-19 pandemic. Findings indicate that the Naive portfolio generally outperforms the GMV portfolio in the S&P 500, signifying higher returns with increased volatility. Conversely, in the PSEI and DOW, the GMV portfolio shows more efficient risk-adjusted returns. Short selling significantly impacts the GMV portfolio during mid-GFC and mid-COVID periods. The study offers insights for investors, suggesting the Naive portfolio for higher risk tolerance and the GMV portfolio as a conservative alternative. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=portfolio%20performance" title="portfolio performance">portfolio performance</a>, <a href="https://publications.waset.org/abstracts/search?q=global%20minimum%20variance" title=" global minimum variance"> global minimum variance</a>, <a href="https://publications.waset.org/abstracts/search?q=na%C3%AFve%20portfolio" title=" naïve portfolio"> naïve portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=risk-adjusted%20metrics" title=" risk-adjusted metrics"> risk-adjusted metrics</a>, <a href="https://publications.waset.org/abstracts/search?q=short-selling" title=" short-selling"> short-selling</a> </p> <a href="https://publications.waset.org/abstracts/171550/a-comparative-analysis-of-global-minimum-variance-and-naive-portfolios-performance-across-stock-market-indices-and-selected-economic-regimes-using-various-risk-return-metrics" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/171550.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">96</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21002</span> The Empirical Analysis and Comparisons Using TAIEX Derivatives</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pao-Peng%20Hsu">Pao-Peng Hsu</a>, <a href="https://publications.waset.org/abstracts/search?q=Ying-Hsiu%20Chen"> Ying-Hsiu Chen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Historical data shows that there were high correlations among TAIEX Futures, Electronic Sector Index Futures, Finance Sector Index Futures and Taiwan Top 50 ETF. The performance under various futures is also discussed. We found that the worst portfolio is consisted of T50-ETF and T50-ETF futures and best portfolio is consisted of T50-ETF and TF. It implies that the annual return of a portfolio increases if a portfolio’s risk diversifies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=arbitrage%20opportunities" title="arbitrage opportunities">arbitrage opportunities</a>, <a href="https://publications.waset.org/abstracts/search?q=ETF" title=" ETF"> ETF</a>, <a href="https://publications.waset.org/abstracts/search?q=futures" title=" futures"> futures</a>, <a href="https://publications.waset.org/abstracts/search?q=TAIEX" title=" TAIEX"> TAIEX</a> </p> <a href="https://publications.waset.org/abstracts/35758/the-empirical-analysis-and-comparisons-using-taiex-derivatives" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35758.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">383</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21001</span> Leveraging Deep Q Networks in Portfolio Optimization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Peng%20Liu">Peng Liu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Deep Q networks (DQNs) represent a significant advancement in reinforcement learning, utilizing neural networks to approximate the optimal Q-value for guiding sequential decision processes. This paper presents a comprehensive introduction to reinforcement learning principles, delves into the mechanics of DQNs, and explores its application in portfolio optimization. By evaluating the performance of DQNs against traditional benchmark portfolios, we demonstrate its potential to enhance investment strategies. Our results underscore the advantages of DQNs in dynamically adjusting asset allocations, offering a robust portfolio management framework. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=deep%20reinforcement%20learning" title="deep reinforcement learning">deep reinforcement learning</a>, <a href="https://publications.waset.org/abstracts/search?q=deep%20Q%20networks" title=" deep Q networks"> deep Q networks</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-period%20optimization" title=" multi-period optimization"> multi-period optimization</a> </p> <a href="https://publications.waset.org/abstracts/189031/leveraging-deep-q-networks-in-portfolio-optimization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/189031.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">32</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">21000</span> Using Analytic Hierarchy Process as a Decision-Making Tool in Project Portfolio Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Darius%20Danesh">Darius Danesh</a>, <a href="https://publications.waset.org/abstracts/search?q=Michael%20J.%20Ryan"> Michael J. Ryan</a>, <a href="https://publications.waset.org/abstracts/search?q=Alireza%20Abbasi"> Alireza Abbasi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Project Portfolio Management (PPM) is an essential component of an organisation’s strategic procedures, which requires attention of several factors to envisage a range of long-term outcomes to support strategic project portfolio decisions. To evaluate overall efficiency at the portfolio level, it is essential to identify the functionality of specific projects as well as to aggregate those findings in a mathematically meaningful manner that indicates the strategic significance of the associated projects at a number of levels of abstraction. PPM success is directly associated with the quality of decisions made and poor judgment increases portfolio costs. Hence, various Multi-Criteria Decision Making (MCDM) techniques have been designed and employed to support the decision-making functions. This paper reviews possible option to improve the decision-making outcomes in the organisational portfolio management processes using the Analytic Hierarchy Process (AHP) both from academic and practical perspectives and will examine the usability, certainty and quality of the technique. The results of the study will also provide insight into the technical risk associated with current decision-making model to underpin initiative tracking and strategic portfolio management. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=analytic%20hierarchy%20process" title="analytic hierarchy process">analytic hierarchy process</a>, <a href="https://publications.waset.org/abstracts/search?q=decision%20support%20systems" title=" decision support systems"> decision support systems</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-criteria%20decision%20making" title=" multi-criteria decision making"> multi-criteria decision making</a>, <a href="https://publications.waset.org/abstracts/search?q=project%20portfolio%20management" title=" project portfolio management"> project portfolio management</a> </p> <a href="https://publications.waset.org/abstracts/39497/using-analytic-hierarchy-process-as-a-decision-making-tool-in-project-portfolio-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/39497.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">321</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20999</span> Evaluating Portfolio Performance by Highlighting Network Property and the Sharpe Ratio in the Stock Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zahra%20Hatami">Zahra Hatami</a>, <a href="https://publications.waset.org/abstracts/search?q=Hesham%20Ali"> Hesham Ali</a>, <a href="https://publications.waset.org/abstracts/search?q=David%20Volkman"> David Volkman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Selecting a portfolio for investing is a crucial decision for individuals and legal entities. In the last two decades, with economic globalization, a stream of financial innovations has rushed to the aid of financial institutions. The importance of selecting stocks for the portfolio is always a challenging task for investors. This study aims to create a financial network to identify optimal portfolios using network centralities metrics. This research presents a community detection technique of superior stocks that can be described as an optimal stock portfolio to be used by investors. By using the advantages of a network and its property in extracted communities, a group of stocks was selected for each of the various time periods. The performance of the optimal portfolios compared to the famous index. Their Sharpe ratio was calculated in a timely manner to evaluate their profit for making decisions. The analysis shows that the selected potential portfolio from stocks with low centrality measurement can outperform the market; however, they have a lower Sharpe ratio than stocks with high centrality scores. In other words, stocks with low centralities could outperform the S&P500 yet have a lower Sharpe ratio than high central stocks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=portfolio%20management%20performance" title="portfolio management performance">portfolio management performance</a>, <a href="https://publications.waset.org/abstracts/search?q=network%20analysis" title=" network analysis"> network analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=centrality%20measurements" title=" centrality measurements"> centrality measurements</a>, <a href="https://publications.waset.org/abstracts/search?q=Sharpe%20ratio" title=" Sharpe ratio"> Sharpe ratio</a> </p> <a href="https://publications.waset.org/abstracts/148342/evaluating-portfolio-performance-by-highlighting-network-property-and-the-sharpe-ratio-in-the-stock-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/148342.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">154</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20998</span> A Mean–Variance–Skewness Portfolio Optimization Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kostas%20Metaxiotis">Kostas Metaxiotis</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Portfolio optimization is one of the most important topics in finance. This paper proposes a mean–variance–skewness (MVS) portfolio optimization model. Traditionally, the portfolio optimization problem is solved by using the mean–variance (MV) framework. In this study, we formulate the proposed model as a three-objective optimization problem, where the portfolio's expected return and skewness are maximized whereas the portfolio risk is minimized. For solving the proposed three-objective portfolio optimization model we apply an adapted version of the non-dominated sorting genetic algorithm (NSGAII). Finally, we use a real dataset from FTSE-100 for validating the proposed model. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=evolutionary%20algorithms" title="evolutionary algorithms">evolutionary algorithms</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=skewness" title=" skewness"> skewness</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20selection" title=" stock selection"> stock selection</a> </p> <a href="https://publications.waset.org/abstracts/102472/a-mean-variance-skewness-portfolio-optimization-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/102472.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">198</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20997</span> Smart Beta Portfolio Optimization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Saud%20Al%20Mahdi">Saud Al Mahdi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=beta" title="beta">beta</a>, <a href="https://publications.waset.org/abstracts/search?q=alpha" title=" alpha"> alpha</a>, <a href="https://publications.waset.org/abstracts/search?q=active%20portfolio%20management" title=" active portfolio management"> active portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=trading%20strategies" title=" trading strategies "> trading strategies </a> </p> <a href="https://publications.waset.org/abstracts/28119/smart-beta-portfolio-optimization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28119.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">355</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20996</span> Analyzing Essential Patents of Mobile Communication Based on Patent Portfolio: Case Study of Long Term Evolution-Advanced </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kujhin%20Jeong">Kujhin Jeong</a>, <a href="https://publications.waset.org/abstracts/search?q=Sungjoo%20Lee"> Sungjoo Lee</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the past, cross-licensing was made up of various application or commercial patents. Today, cross-licensing is restricted to essential patents, which has emphasized their importance significantly. Literature has shown that patent portfolio provides information for patent protection or strategy decision-making, but little empirical research has found strategic tool of essential patents. This paper will highlight four types of essential patent portfolio and analysis about each strategy in the field of LTE-A. Specifically we collected essential patents of mobile communication company through ETSI (European Telecommunication Standards Institute) and build-up portfolio activity, concentration, diversity, and quality. Using these portfolios, we can understand each company’s strategic character about the technology of LTE-A and comparison analysis of financial results. Essential patents portfolio displays a mobile communication company’s strategy and its strategy’s impact on the performance of a company. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=essential%20patent" title="essential patent">essential patent</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio" title=" portfolio"> portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=patent%20portfolio" title=" patent portfolio"> patent portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=essential%20patent%20portfolio" title=" essential patent portfolio"> essential patent portfolio</a> </p> <a href="https://publications.waset.org/abstracts/43598/analyzing-essential-patents-of-mobile-communication-based-on-patent-portfolio-case-study-of-long-term-evolution-advanced" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/43598.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">394</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20995</span> Financial Portfolio Optimization in Turkish Electricity Market via Value at Risk</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=F.%20G%C3%B6kg%C3%B6z">F. Gökgöz</a>, <a href="https://publications.waset.org/abstracts/search?q=M.%20E.%20Atmaca"> M. E. Atmaca</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=electricity%20market" title="electricity market">electricity market</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management" title=" risk management"> risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20at%20risk" title=" value at risk"> value at risk</a> </p> <a href="https://publications.waset.org/abstracts/52928/financial-portfolio-optimization-in-turkish-electricity-market-via-value-at-risk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/52928.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">313</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20994</span> Managing Multiple Change Projects in Supply Chains: A Case Study of a Moroccan Multi-Technical Services Company</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdelouahab%20Errida">Abdelouahab Errida</a>, <a href="https://publications.waset.org/abstracts/search?q=Bouchra%20Lotfi"> Bouchra Lotfi</a>, <a href="https://publications.waset.org/abstracts/search?q=Elalami%20Semma"> Elalami Semma</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we try to address the topic of multiple change management by adopting an engineered research methodology, conducted within a Moroccan company during its implementation of several change projects that aim at improving its supply chain management performance. Firstly, we present the key concepts related to our research, namely change management, multiproject management and supply chain management. Then, we try to assess how the change management and multi-project management are applied in this company. Finally, we try to propose an approach that will help managers in dealing with multiple change projects. This approach proposes to integrate change management, project management and multi-project management for managing change projects according to three organizational levels: executive level, project portfolio level and change project level. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=change%20management" title="change management">change management</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-project%20management" title=" multi-project management"> multi-project management</a>, <a href="https://publications.waset.org/abstracts/search?q=project%20management" title=" project management"> project management</a>, <a href="https://publications.waset.org/abstracts/search?q=change%20portfolio" title=" change portfolio"> change portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20management" title=" supply chain management"> supply chain management</a>, <a href="https://publications.waset.org/abstracts/search?q=" title=""></a> </p> <a href="https://publications.waset.org/abstracts/99486/managing-multiple-change-projects-in-supply-chains-a-case-study-of-a-moroccan-multi-technical-services-company" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99486.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">236</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20993</span> Portfolio Risk Management Using Quantum Annealing</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Thomas%20Doutre">Thomas Doutre</a>, <a href="https://publications.waset.org/abstracts/search?q=Emmanuel%20De%20Meric%20De%20Bellefon"> Emmanuel De Meric De Bellefon</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper describes the application of local-search metaheuristic quantum annealing to portfolio opti- mization. Heuristic technics are particularly handy when Markowitz’ classical Mean-Variance problem is enriched with additional realistic constraints. Once tailored to the problem, computational experiments on real collected data have shown the superiority of quantum annealing over simulated annealing for this constrained optimization problem, taking advantages of quantum effects such as tunnelling. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=optimization" title="optimization">optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20risk%20management" title=" portfolio risk management"> portfolio risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=quantum%20annealing" title=" quantum annealing"> quantum annealing</a>, <a href="https://publications.waset.org/abstracts/search?q=metaheuristic" title=" metaheuristic"> metaheuristic</a> </p> <a href="https://publications.waset.org/abstracts/40564/portfolio-risk-management-using-quantum-annealing" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/40564.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">383</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20992</span> About the Case Portfolio Management Algorithms and Their Applications</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20Chumburidze">M. Chumburidze</a>, <a href="https://publications.waset.org/abstracts/search?q=N.%20Salia"> N. Salia</a>, <a href="https://publications.waset.org/abstracts/search?q=T.%20Namchevadze"> T. Namchevadze</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This work deal with case processing problems in business. The task of strategic credit requirements management of cases portfolio is discussed. The information model of credit requirements in a binary tree diagram is considered. The algorithms to solve issues of prioritizing clusters of cases in business have been investigated. An implementation of priority queues to support case management operations has been presented. The corresponding pseudo codes for the programming application have been constructed. The tools applied in this development are based on binary tree ordering algorithms, optimization theory, and business management methods. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=credit%20network" title="credit network">credit network</a>, <a href="https://publications.waset.org/abstracts/search?q=case%20portfolio" title=" case portfolio"> case portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=binary%20tree" title=" binary tree"> binary tree</a>, <a href="https://publications.waset.org/abstracts/search?q=priority%20queue" title=" priority queue"> priority queue</a>, <a href="https://publications.waset.org/abstracts/search?q=stack" title=" stack"> stack</a> </p> <a href="https://publications.waset.org/abstracts/168639/about-the-case-portfolio-management-algorithms-and-their-applications" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/168639.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">150</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20991</span> Optimization of Smart Beta Allocation by Momentum Exposure</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=J.%20B.%20Frisch">J. B. Frisch</a>, <a href="https://publications.waset.org/abstracts/search?q=D.%20Evandiloff"> D. Evandiloff</a>, <a href="https://publications.waset.org/abstracts/search?q=P.%20Martin"> P. Martin</a>, <a href="https://publications.waset.org/abstracts/search?q=N.%20Ouizille"> N. Ouizille</a>, <a href="https://publications.waset.org/abstracts/search?q=F.%20Pires"> F. Pires </a> </p> <p class="card-text"><strong>Abstract:</strong></p> Smart Beta strategies intend to be an asset management revolution with reference to classical cap-weighted indices. Indeed, these strategies allow a better control on portfolios risk factors and an optimized asset allocation by taking into account specific risks or wishes to generate alpha by outperforming indices called 'Beta'. Among many strategies independently used, this paper focuses on four of them: Minimum Variance Portfolio, Equal Risk Contribution Portfolio, Maximum Diversification Portfolio, and Equal-Weighted Portfolio. Their efficiency has been proven under constraints like momentum or market phenomenon, suggesting a reconsideration of cap-weighting.  To further increase strategy return efficiency, it is proposed here to compare their strengths and weaknesses inside time intervals corresponding to specific identifiable market phases, in order to define adapted strategies depending on pre-specified situations.  Results are presented as performance curves from different combinations compared to a benchmark. If a combination outperforms the applicable benchmark in well-defined actual market conditions, it will be preferred. It is mainly shown that such investment 'rules', based on both historical data and evolution of Smart Beta strategies, and implemented according to available specific market data, are providing very interesting optimal results with higher return performance and lower risk.  Such combinations have not been fully exploited yet and justify present approach aimed at identifying relevant elements characterizing them. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=smart%20beta" title="smart beta">smart beta</a>, <a href="https://publications.waset.org/abstracts/search?q=minimum%20variance%20portfolio" title=" minimum variance portfolio"> minimum variance portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=equal%20risk%20contribution%20portfolio" title=" equal risk contribution portfolio"> equal risk contribution portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=maximum%20diversification%20portfolio" title=" maximum diversification portfolio"> maximum diversification portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=equal%20weighted%20portfolio" title=" equal weighted portfolio"> equal weighted portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=combinations" title=" combinations"> combinations</a> </p> <a href="https://publications.waset.org/abstracts/9011/optimization-of-smart-beta-allocation-by-momentum-exposure" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/9011.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">340</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20990</span> Portfolio Selection with Active Risk Monitoring</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Marc%20S.%20Paolella">Marc S. Paolella</a>, <a href="https://publications.waset.org/abstracts/search?q=Pawel%20Polak"> Pawel Polak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper proposes a framework for large-scale portfolio optimization which accounts for all the major stylized facts of multivariate financial returns, including volatility clustering, dynamics in the dependency structure, asymmetry, heavy tails, and non-ellipticity. It introduces a so-called risk fear portfolio strategy which combines portfolio optimization with active risk monitoring. The former selects optimal portfolio weights. The latter, independently, initiates market exit in case of excessive risks. The strategy agrees with the stylized fact of stock market major sell-offs during the initial stage of market downturns. The advantages of the new framework are illustrated with an extensive empirical study. It leads to superior multivariate density and Value-at-Risk forecasting, and better portfolio performance. The proposed risk fear portfolio strategy outperforms various competing types of optimal portfolios, even in the presence of conservative transaction costs and frequent rebalancing. The risk monitoring of the optimal portfolio can serve as an early warning system against large market risks. In particular, the new strategy avoids all the losses during the 2008 financial crisis, and it profits from the subsequent market recovery. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=comfort" title="comfort">comfort</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20crises" title=" financial crises"> financial crises</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20monitoring" title=" risk monitoring"> risk monitoring</a> </p> <a href="https://publications.waset.org/abstracts/28504/portfolio-selection-with-active-risk-monitoring" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28504.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">525</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20989</span> Portfolio Management for Construction Company during Covid-19 Using AHP Technique</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sareh%20Rajabi">Sareh Rajabi</a>, <a href="https://publications.waset.org/abstracts/search?q=Salwa%20Bheiry"> Salwa Bheiry</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=portfolio%20management" title="portfolio management">portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management" title=" risk management"> risk management</a>, <a href="https://publications.waset.org/abstracts/search?q=COVID-19" title=" COVID-19"> COVID-19</a>, <a href="https://publications.waset.org/abstracts/search?q=analytical%20hierarchy%20process%20technique" title=" analytical hierarchy process technique"> analytical hierarchy process technique</a> </p> <a href="https://publications.waset.org/abstracts/130424/portfolio-management-for-construction-company-during-covid-19-using-ahp-technique" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/130424.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">109</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20988</span> Development of an Index for Asset Class in Ex-Ante Portfolio Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Miang%20Hong%20Ngerng">Miang Hong Ngerng</a>, <a href="https://publications.waset.org/abstracts/search?q=Noor%20Diyana%20Jasme"> Noor Diyana Jasme</a>, <a href="https://publications.waset.org/abstracts/search?q=May%20Jin%20Theong"> May Jin Theong</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=active%20portfolio%20management" title="active portfolio management">active portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=asset%20allocation%20ex-ante%20investment" title=" asset allocation ex-ante investment"> asset allocation ex-ante investment</a>, <a href="https://publications.waset.org/abstracts/search?q=asset%20class" title=" asset class"> asset class</a>, <a href="https://publications.waset.org/abstracts/search?q=partial%20lease%20square" title=" partial lease square"> partial lease square</a> </p> <a href="https://publications.waset.org/abstracts/56458/development-of-an-index-for-asset-class-in-ex-ante-portfolio-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56458.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">270</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20987</span> Portfolio Restructuring of Banks: The Impact on Performance and Risk</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hannes%20Koester">Hannes Koester</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Driven by difficult market conditions and increasing regulations, many banks are making the strategic decision to restructure their portfolio by divesting several business segments. Using a unique dataset of 727 portfolio restructuring announcements by 161 international listed banks over the period 1999 to 2015, we investigate the impact of restructuring measurements on the stock performance as well as on the banks’ profitability and risk. Employing the event study methodology, we detect positive stock market reactions on the announcement of restructuring measurements. These positive stock market reactions indicate that shareholders reward banks’ specialization activities. However, the results of the system GMM regressions show a negative relation between restructuring measurements and banks’ return on assets and a positive relation towards the individual and systemic risk of banks. These empirical results indicate that there is no guarantee that portfolio restructurings will result in a more profitable and less risky institution. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bank%20performance" title="bank performance">bank performance</a>, <a href="https://publications.waset.org/abstracts/search?q=bank%20risk" title=" bank risk"> bank risk</a>, <a href="https://publications.waset.org/abstracts/search?q=divestiture" title=" divestiture"> divestiture</a>, <a href="https://publications.waset.org/abstracts/search?q=restructuring" title=" restructuring"> restructuring</a>, <a href="https://publications.waset.org/abstracts/search?q=systemic%20risk" title=" systemic risk"> systemic risk</a> </p> <a href="https://publications.waset.org/abstracts/56559/portfolio-restructuring-of-banks-the-impact-on-performance-and-risk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56559.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">317</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20986</span> An Expert System Designed to Be Used with MOEAs for Efficient Portfolio Selection</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kostas%20Metaxiotis">Kostas Metaxiotis</a>, <a href="https://publications.waset.org/abstracts/search?q=Kostas%20Liagkouras"> Kostas Liagkouras</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study presents an Expert System specially designed to be used with Multiobjective Evolutionary Algorithms (MOEAs) for the solution of the portfolio selection problem. The validation of the proposed hybrid System is done by using data sets from Hang Seng 31 in Hong Kong, DAX 100 in Germany and FTSE 100 in UK. The performance of the proposed system is assessed in comparison with the Non-dominated Sorting Genetic Algorithm II (NSGAII). The evaluation of the performance is based on different performance metrics that evaluate both the proximity of the solutions to the Pareto front and their dispersion on it. The results show that the proposed hybrid system is efficient for the solution of this kind of problems. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=expert%20systems" title="expert systems">expert systems</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-objective%20optimization" title=" multi-objective optimization"> multi-objective optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=evolutionary%20algorithms" title=" evolutionary algorithms"> evolutionary algorithms</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20selection" title=" portfolio selection"> portfolio selection</a> </p> <a href="https://publications.waset.org/abstracts/3509/an-expert-system-designed-to-be-used-with-moeas-for-efficient-portfolio-selection" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/3509.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">439</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20985</span> Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=F.%20G%C3%B6kg%C3%B6z">F. Gökgöz</a>, <a href="https://publications.waset.org/abstracts/search?q=M.%20E.%20Atmaca"> M. E. Atmaca</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=electricity%20market" title="electricity market">electricity market</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20management%20in%20electricity%20market" title=" risk management in electricity market"> risk management in electricity market</a>, <a href="https://publications.waset.org/abstracts/search?q=sharpe%20ratio" title=" sharpe ratio"> sharpe ratio</a> </p> <a href="https://publications.waset.org/abstracts/52925/financial-portfolio-optimization-in-electricity-markets-evaluation-via-sharpe-ratio" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/52925.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">365</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20984</span> The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=B.%20Marasovi%C4%87">B. Marasović</a>, <a href="https://publications.waset.org/abstracts/search?q=S.%20Pivac"> S. Pivac</a>, <a href="https://publications.waset.org/abstracts/search?q=S.%20V.%20Vukasovi%C4%87"> S. V. Vukasović</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Croatian%20capital%20market" title="Croatian capital market">Croatian capital market</a>, <a href="https://publications.waset.org/abstracts/search?q=Markowitz%20model" title=" Markowitz model"> Markowitz model</a>, <a href="https://publications.waset.org/abstracts/search?q=fractional%20quadratic%20programming" title=" fractional quadratic programming"> fractional quadratic programming</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=transaction%20costs" title=" transaction costs"> transaction costs</a> </p> <a href="https://publications.waset.org/abstracts/21383/the-impact-of-transaction-costs-on-rebalancing-an-investment-portfolio-in-portfolio-optimization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/21383.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">385</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20983</span> Mathematical Programming Models for Portfolio Optimization Problem: A Review</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mazura%20Mokhtar">Mazura Mokhtar</a>, <a href="https://publications.waset.org/abstracts/search?q=Adibah%20Shuib"> Adibah Shuib</a>, <a href="https://publications.waset.org/abstracts/search?q=Daud%20Mohamad"> Daud Mohamad</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Portfolio optimization problem has received a lot of attention from both researchers and practitioners over the last six decades. This paper provides an overview of the current state of research in portfolio optimization with the support of mathematical programming techniques. On top of that, this paper also surveys the solution algorithms for solving portfolio optimization models classifying them according to their nature in heuristic and exact methods. To serve these purposes, 40 related articles appearing in the international journal from 2003 to 2013 have been gathered and analyzed. Based on the literature review, it has been observed that stochastic programming and goal programming constitute the highest number of mathematical programming techniques employed to tackle the portfolio optimization problem. It is hoped that the paper can meet the needs of researchers and practitioners for easy references of portfolio optimization. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title="portfolio optimization">portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=mathematical%20programming" title=" mathematical programming"> mathematical programming</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-objective%20programming" title=" multi-objective programming"> multi-objective programming</a>, <a href="https://publications.waset.org/abstracts/search?q=solution%20approaches" title=" solution approaches"> solution approaches</a> </p> <a href="https://publications.waset.org/abstracts/2654/mathematical-programming-models-for-portfolio-optimization-problem-a-review" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/2654.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">348</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20982</span> Optimal Portfolio Selection under Treynor Ratio Using Genetic Algorithms</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Imad%20Zeyad%20Ramadan">Imad Zeyad Ramadan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper a genetic algorithm was developed to construct the optimal portfolio based on the Treynor method. The GA maximizes the Treynor ratio under budget constraint to select the best allocation of the budget for the companies in the portfolio. The results show that the GA was able to construct a conservative portfolio which includes companies from the three sectors. This indicates that the GA reduced the risk on the investor as it choose some companies with positive risks (goes with the market) and some with negative risks (goes against the market). <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=oOptimization" title="oOptimization">oOptimization</a>, <a href="https://publications.waset.org/abstracts/search?q=genetic%20algorithm" title=" genetic algorithm"> genetic algorithm</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20selection" title=" portfolio selection"> portfolio selection</a>, <a href="https://publications.waset.org/abstracts/search?q=Treynor%20method" title=" Treynor method"> Treynor method</a> </p> <a href="https://publications.waset.org/abstracts/43388/optimal-portfolio-selection-under-treynor-ratio-using-genetic-algorithms" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/43388.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">449</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20981</span> Dynamic Correlations and Portfolio Optimization between Islamic and Conventional Equity Indexes: A Vine Copula-Based Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Imen%20Dhaou">Imen Dhaou</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study examines conditional Value at Risk by applying the GJR-EVT-Copula model, and finds the optimal portfolio for eight Dow Jones Islamic-conventional pairs. Our methodology consists of modeling the data by a bivariate GJR-GARCH model in which we extract the filtered residuals and then apply the Peak over threshold model (POT) to fit the residual tails in order to model marginal distributions. After that, we use pair-copula to find the optimal portfolio risk dependence structure. Finally, with Monte Carlo simulations, we estimate the Value at Risk (VaR) and the conditional Value at Risk (CVaR). The empirical results show the VaR and CVaR values for an equally weighted portfolio of Dow Jones Islamic-conventional pairs. In sum, we found that the optimal investment focuses on Islamic-conventional US Market index pairs because of high investment proportion; however, all other index pairs have low investment proportion. These results deliver some real repercussions for portfolio managers and policymakers concerning to optimal asset allocations, portfolio risk management and the diversification advantages of these markets. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=CVaR" title="CVaR">CVaR</a>, <a href="https://publications.waset.org/abstracts/search?q=Dow%20Jones%20Islamic%20index" title=" Dow Jones Islamic index"> Dow Jones Islamic index</a>, <a href="https://publications.waset.org/abstracts/search?q=GJR-GARCH-EVT-pair%20copula" title=" GJR-GARCH-EVT-pair copula"> GJR-GARCH-EVT-pair copula</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a> </p> <a href="https://publications.waset.org/abstracts/81937/dynamic-correlations-and-portfolio-optimization-between-islamic-and-conventional-equity-indexes-a-vine-copula-based-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/81937.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">256</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20980</span> Advanced Technologies and Algorithms for Efficient Portfolio Selection</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Konstantinos%20Liagkouras">Konstantinos Liagkouras</a>, <a href="https://publications.waset.org/abstracts/search?q=Konstantinos%20Metaxiotis"> Konstantinos Metaxiotis</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper we present a classification of the various technologies applied for the solution of the portfolio selection problem according to the discipline and the methodological framework followed. We provide a concise presentation of the emerged categories and we are trying to identify which methods considered obsolete and which lie at the heart of the debate. On top of that, we provide a comparative study of the different technologies applied for efficient portfolio construction and we suggest potential paths for future work that lie at the intersection of the presented techniques. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=portfolio%20selection" title="portfolio selection">portfolio selection</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization%20techniques" title=" optimization techniques"> optimization techniques</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20models" title=" financial models"> financial models</a>, <a href="https://publications.waset.org/abstracts/search?q=stochastic" title=" stochastic"> stochastic</a>, <a href="https://publications.waset.org/abstracts/search?q=heuristics" title=" heuristics"> heuristics</a> </p> <a href="https://publications.waset.org/abstracts/31917/advanced-technologies-and-algorithms-for-efficient-portfolio-selection" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/31917.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">432</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20979</span> Portfolio Assessment and English as a Foreign Language Aboriginal Students’ English Learning Outcome in Taiwan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Li-Ching%20Hung">Li-Ching Hung</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The lack of empirical research on portfolio assessment in aboriginal EFL English classes of junior high schools in Taiwan may inhibit EFL teachers from appreciating the utility of this alternative assessment approach. This study addressed the following research questions: 1) understand how aboriginal EFL students and instructors of junior high schools in Taiwan perceive portfolio assessment, and 2) how portfolio assessment affects Taiwanese aboriginal EFL students’ learning outcomes. Ten classes of five junior high schools in Taiwan (from different regions of Taiwan) participated in this study. Two classes from each school joined the study, and each class was randomly assigned as a control group, and one was the experimental group. These five junior high schools consisted of at least 50% of aboriginal students. A mixed research design was utilized. The instructor of each class implemented a portfolio assessment for 15 weeks of the 2015 Fall Semester. At the beginning of the semester, all participants took a GEPT test (pretest), and in the 15th week, all participants took the same level of GEPT test (post-test). Scores of students’ GEPT tests were checked by the researcher as supplemental data in order to understand each student’s performance. In addition, each instructor was interviewed to provide qualitative data concerning students’ general learning performance and their perception of implementing portfolio assessments in their English classes. The results of this study were used to provide suggestions for EFL instructors while modifying their lesson plans regarding assessment. In addition, the empirical data were used as references for EFL instructors implementing portfolio assessments in their classes effectively. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=assessment" title="assessment">assessment</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20assessment" title=" portfolio assessment"> portfolio assessment</a>, <a href="https://publications.waset.org/abstracts/search?q=qualitative%20design" title=" qualitative design"> qualitative design</a>, <a href="https://publications.waset.org/abstracts/search?q=aboriginal%20ESL%20students" title=" aboriginal ESL students"> aboriginal ESL students</a> </p> <a href="https://publications.waset.org/abstracts/163971/portfolio-assessment-and-english-as-a-foreign-language-aboriginal-students-english-learning-outcome-in-taiwan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/163971.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">140</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20978</span> Markowitz and Implementation of a Multi-Objective Evolutionary Technique Applied to the Colombia Stock Exchange (2009-2015)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Feijoo%20E.%20Colomine%20Duran">Feijoo E. Colomine Duran</a>, <a href="https://publications.waset.org/abstracts/search?q=Carlos%20E.%20Pe%C3%B1aloza%20Corredor"> Carlos E. Peñaloza Corredor</a> </p> <p class="card-text"><strong>Abstract:</strong></p> There modeling component selection financial investment (Portfolio) a variety of problems that can be addressed with optimization techniques under evolutionary schemes. For his feature, the problem of selection of investment components of a dichotomous relationship between two elements that are opposed: The Portfolio Performance and Risk presented by choosing it. This relationship was modeled by Markowitz through a media problem (Performance) - variance (risk), ie must Maximize Performance and Minimize Risk. This research included the study and implementation of multi-objective evolutionary techniques to solve these problems, taking as experimental framework financial market equities Colombia Stock Exchange between 2009-2015. Comparisons three multiobjective evolutionary algorithms, namely the Nondominated Sorting Genetic Algorithm II (NSGA-II), the Strength Pareto Evolutionary Algorithm 2 (SPEA2) and Indicator-Based Selection in Multiobjective Search (IBEA) were performed using two measures well known performance: The Hypervolume indicator and R_2 indicator, also it became a nonparametric statistical analysis and the Wilcoxon rank-sum test. The comparative analysis also includes an evaluation of the financial efficiency of the investment portfolio chosen by the implementation of various algorithms through the Sharpe ratio. It is shown that the portfolio provided by the implementation of the algorithms mentioned above is very well located between the different stock indices provided by the Colombia Stock Exchange. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=finance" title="finance">finance</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization" title=" optimization"> optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio" title=" portfolio"> portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=Markowitz" title=" Markowitz"> Markowitz</a>, <a href="https://publications.waset.org/abstracts/search?q=evolutionary%20algorithms" title=" evolutionary algorithms"> evolutionary algorithms</a> </p> <a href="https://publications.waset.org/abstracts/56680/markowitz-and-implementation-of-a-multi-objective-evolutionary-technique-applied-to-the-colombia-stock-exchange-2009-2015" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56680.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">302</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20977</span> Supplier Risk Management: A Multivariate Statistical Modelling and Portfolio Optimization Based Approach for Supplier Delivery Performance Development </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jiahui%20Yang">Jiahui Yang</a>, <a href="https://publications.waset.org/abstracts/search?q=John%20Quigley"> John Quigley</a>, <a href="https://publications.waset.org/abstracts/search?q=Lesley%20Walls"> Lesley Walls</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, the authors develop a stochastic model regarding the investment in supplier delivery performance development from a buyer’s perspective. The authors propose a multivariate model through a Multinomial-Dirichlet distribution within an Empirical Bayesian inference framework, representing both the epistemic and aleatory uncertainties in deliveries. A closed form solution is obtained and the lower and upper bound for both optimal investment level and expected profit under uncertainty are derived. The theoretical properties provide decision makers with useful insights regarding supplier delivery performance improvement problems where multiple delivery statuses are involved. The authors also extend the model from a single supplier investment into a supplier portfolio, using a Lagrangian method to obtain a theoretical expression for an optimal investment level and overall expected profit. The model enables a buyer to know how the marginal expected profit/investment level of each supplier changes with respect to the budget and which supplier should be invested in when additional budget is available. An application of this model is illustrated in a simulation study. Overall, the main contribution of this study is to provide an optimal investment decision making framework for supplier development, taking into account multiple delivery statuses as well as multiple projects. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=decision%20making" title="decision making">decision making</a>, <a href="https://publications.waset.org/abstracts/search?q=empirical%20bayesian" title=" empirical bayesian"> empirical bayesian</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20optimization" title=" portfolio optimization"> portfolio optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=supplier%20development" title=" supplier development"> supplier development</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20management" title=" supply chain management"> supply chain management</a> </p> <a href="https://publications.waset.org/abstracts/89731/supplier-risk-management-a-multivariate-statistical-modelling-and-portfolio-optimization-based-approach-for-supplier-delivery-performance-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89731.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">288</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">20976</span> Analyzing the Effects of Adding Bitcoin to Portfolio </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shashwat%20Gangwal">Shashwat Gangwal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper analyses the effect of adding Bitcoin, to the portfolio (stocks, bonds, Baltic index, MXEF, gold, real estate and crude oil) of an international investor by using daily data available from 2<sup>nd</sup> of July, 2010 to 2<sup>nd of</sup> August, 2016. We conclude that adding Bitcoin to portfolio, over the course of the considered period, always yielded a higher Sharpe ratio. This means that Bitcoin’s returns offset its high volatility. This paper, recognizing the fact that Bitcoin is a relatively new asset class, gives the readers a basic idea about the working of the virtual currency, the increasing number developments in the financial industry revolving around it, its unique features and the detailed look into its continuously growing acceptance across different fronts (Banks, Merchants and Countries) globally. We also construct optimal portfolios to reflect the highly lucrative and largely unexplored opportunities associated with investment in Bitcoin. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bitcoin" title="bitcoin">bitcoin</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20instruments" title=" financial instruments"> financial instruments</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20management" title=" portfolio management"> portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20adjusted%20return" title=" risk adjusted return"> risk adjusted return</a> </p> <a href="https://publications.waset.org/abstracts/57763/analyzing-the-effects-of-adding-bitcoin-to-portfolio" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/57763.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">231</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=portfolio%20management%20performance&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=portfolio%20management%20performance&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=portfolio%20management%20performance&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=portfolio%20management%20performance&page=5">5</a></li> <li class="page-item"><a class="page-link" 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