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bond portfolio</title> <meta name="description" content="Search results for: corporate bond portfolio"> <meta name="keywords" content="corporate bond portfolio"> <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" /> </a> <button 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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="corporate bond portfolio"> <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> 1691</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: corporate bond portfolio</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1691</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">1690</span> Role of Cryptocurrency in Portfolio Diversification</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Onur%20Arugaslan">Onur Arugaslan</a>, <a href="https://publications.waset.org/abstracts/search?q=Ajay%20Samant"> Ajay Samant</a>, <a href="https://publications.waset.org/abstracts/search?q=Devrim%20Yaman"> Devrim Yaman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Financial advisors and investors seek new assets which could potentially increase portfolio returns and decrease portfolio risk. Cryptocurrencies represent a relatively new asset class which could serve in both these roles. There has been very little research done in the area of the risk/return tradeoff in a portfolio consisting of fixed income assets, stocks, and cryptocurrency. The objective of this study is a rigorous examination of this issue. The data used in the study are the monthly returns on 4-week US Treasury Bills, S&P Investment Grade Corporate Bond Index, Bitcoin and the S&P 500 Stock Index. The methodology used in the study is the application Modern Portfolio Theory to evaluate the risk-adjusted returns of portfolios with varying combinations of these assets, using Sharpe, Treynor and Jensen Indexes, as well as the Sortino and Modigliani measures. The results of the study would include the ranking of various investment portfolios based on their risk/return characteristics. The conclusions of the study would include objective empirical inference for investors who are interested in including cryptocurrency in their asset portfolios but are unsure of the risk/return implications. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20economics" title="financial economics">financial economics</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20diversification" title=" portfolio diversification"> portfolio diversification</a>, <a href="https://publications.waset.org/abstracts/search?q=fixed%20income%20securities" title=" fixed income securities"> fixed income securities</a>, <a href="https://publications.waset.org/abstracts/search?q=cryptocurrency" title=" cryptocurrency"> cryptocurrency</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20indexes" title=" stock indexes"> stock indexes</a> </p> <a href="https://publications.waset.org/abstracts/173618/role-of-cryptocurrency-in-portfolio-diversification" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/173618.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">73</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">1689</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">1688</span> Asymmetric Linkages Between Global Sustainable Index (Green Bond) and Cryptocurrency Markets with Portfolio Implications</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Faheem%20Ur%20Rehman">Faheem Ur Rehman</a>, <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Khalil%20Khan"> Muhammad Khalil Khan</a>, <a href="https://publications.waset.org/abstracts/search?q=Miao%20Qing"> Miao Qing</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigated the asymmetric links and portfolio strategies between green bonds and the markets of three different cryptocurrencies, i.e., green, Islamic, and conventional, using data from January 1, 2018, to April 8, 2022, and employing asymmetric TVP-VAR model to quantify risk spillovers in the network analysis. In addition, we use the minimum variance, minimum correlation, and minimum connectedness methodologies to assess the portfolio implications. The results of the asymmetric dynamic connectedness index (TCI) model show that by adopting cryptocurrencies for digital finance, risk spillovers are found to be reduced. The findings of net directional connectedness demonstrate that during the study period, green bonds consistently get return spillovers from all other network variables. Positive return spillovers are bigger in magnitude than negative ones. These results imply that the influence of the green bond market on the cryptocurrency markets is decreasing. Positive return spillovers generate higher connectedness values for (HG, BNB, and TRX) coins and persistent net recipients in the specific network. On the other hand, Cardano and ADA coins are persistent net transmitters in the system. XLM and MIOTA's responsibilities shift over time, and there is evidence of asymmetry when both positive and negative returns are considered. According to the pairwise portfolio weights, BNB vs. BTC has the largest portfolio weights in the system, followed by BNB vs. Ethereum, suggesting the best investment strategies in the network. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=asymmetric%20TVP-VAR" title="asymmetric TVP-VAR">asymmetric TVP-VAR</a>, <a href="https://publications.waset.org/abstracts/search?q=global%20sustainable%20index" title=" global sustainable index"> global sustainable index</a>, <a href="https://publications.waset.org/abstracts/search?q=cryptocurrency" title=" cryptocurrency"> cryptocurrency</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolios" title=" portfolios"> portfolios</a> </p> <a href="https://publications.waset.org/abstracts/163872/asymmetric-linkages-between-global-sustainable-index-green-bond-and-cryptocurrency-markets-with-portfolio-implications" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/163872.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">78</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">1687</span> Theoretical and ML-Driven Identification of a Mispriced Credit Risk</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yuri%20Katz">Yuri Katz</a>, <a href="https://publications.waset.org/abstracts/search?q=Kun%20Liu"> Kun Liu</a>, <a href="https://publications.waset.org/abstracts/search?q=Arunram%20Atmacharan"> Arunram Atmacharan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Due to illiquidity, mispricing on Credit Markets is inevitable. This creates huge challenges to banks and investors as they seek to find new ways of risk valuation and portfolio management in a post-credit crisis world. Here, we analyze the difference in behavior of the spread-to-maturity in investment and high-yield categories of US corporate bonds between 2014 and 2023. Deviation from the theoretical dependency of this measure in the universe under study allows to identify multiple cases of mispriced credit risk. Remarkably, we observe mispriced bonds in both categories of credit ratings. This identification is supported by the application of the state-of-the-art machine learning model in more than 90% of cases. Noticeably, the ML-driven model-based forecasting of a category of bond’s credit ratings demonstrate an excellent out-of-sample accuracy (AUC = 98%). We believe that these results can augment conventional valuations of credit portfolios. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=credit%20risk" title="credit risk">credit risk</a>, <a href="https://publications.waset.org/abstracts/search?q=credit%20ratings" title=" credit ratings"> credit ratings</a>, <a href="https://publications.waset.org/abstracts/search?q=bond%20pricing" title=" bond pricing"> bond pricing</a>, <a href="https://publications.waset.org/abstracts/search?q=spread-to-maturity" title=" spread-to-maturity"> spread-to-maturity</a>, <a href="https://publications.waset.org/abstracts/search?q=machine%20learning" title=" machine learning"> machine learning</a> </p> <a href="https://publications.waset.org/abstracts/171152/theoretical-and-ml-driven-identification-of-a-mispriced-credit-risk" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/171152.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">80</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">1686</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">1685</span> Studying the Bond Strength of Geo-Polymer Concrete</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rama%20Seshu%20Doguparti">Rama Seshu Doguparti</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper presents the experimental investigation on the bond behavior of geo polymer concrete. The bond behavior of geo polymer concrete cubes of grade M35 reinforced with 16 mm TMT rod is analyzed. The results indicate that the bond performance of reinforced geo polymer concrete is good and thus proves its application for construction. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=geo-polymer" title="geo-polymer">geo-polymer</a>, <a href="https://publications.waset.org/abstracts/search?q=concrete" title=" concrete"> concrete</a>, <a href="https://publications.waset.org/abstracts/search?q=bond%20strength" title=" bond strength"> bond strength</a>, <a href="https://publications.waset.org/abstracts/search?q=behaviour" title=" behaviour"> behaviour</a> </p> <a href="https://publications.waset.org/abstracts/19114/studying-the-bond-strength-of-geo-polymer-concrete" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/19114.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">508</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">1684</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">1683</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">1682</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">1681</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">1680</span> Corporate Governance and Share Prices: Firm Level Review in Turkey</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Raif%20Parlakkaya">Raif Parlakkaya</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmet%20Diken"> Ahmet Diken</a>, <a href="https://publications.waset.org/abstracts/search?q=Erkan%20Kara"> Erkan Kara</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20price" title=" stock price"> stock price</a>, <a href="https://publications.waset.org/abstracts/search?q=performance" title=" performance"> performance</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data%20analysis" title=" panel data analysis "> panel data analysis </a> </p> <a href="https://publications.waset.org/abstracts/29587/corporate-governance-and-share-prices-firm-level-review-in-turkey" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29587.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">393</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">1679</span> An Introduction to Corporate Financial Reporting Practices in India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pradip%20Kumar%20Das">Pradip Kumar Das</a> </p> <p class="card-text"><strong>Abstract:</strong></p> India is a developing country and is also one of the most industrialized developing countries of the world. In post-independence period, industry has grown rapidly in India and with industrialization corporate sector in the country has been growing day after day. Nowadays, the investment is not limited to be shareholders alone, apart from the shareholders the common people of the society have also started investing in shares of the corporate sectors. Thus, the responsibilities of the corporate sectors have increased much. Corporate financial reporting refers to a system which provides valuable information to different types of users in the society for taking resourceful decisions with regards to investment policy, organization credit worthiness, profitability, liquidity, provision of taxation etc. The quality of information available to different users fosters the efficient allocation of resources which are very urgent for economic development of a country like India. It is the responsibility of the management of the corporate sector to convey reliable and authentic information with the help of generally accepted accounting principles. Corporate sectors which disclose information through annual reports should be sufficient enough for the purpose of bringing out the salient features relating to business performances and other activities. However, the disclosures practices of the corporate sectors though annual reports have undergone several major changes from time to time. Many a time, these vital changes are in the fashion of presenting information in the annual reports and addition of so many non-statutory disclosures of the company. Very often managements of the corporate sectors are blamed for concealing true picture which is not desirable at all. The corporate financial reporting practice which in the current period has gained a place of prime importance suffers from certain limitations and invites question from the public about its reliability. Thus, the wide gap created by management between the exhibited picture and the real picture sometimes attains to such extent that the purpose of the reporting practice loses its importance. The requirement of full and adequate disclosure of information including information relating to human resources in the annual report in free trade economy of India helps the prospective investors to select the best portfolio of their investments. This paper is a reflection of a modest attempt of the author to highlight the corporate reporting practices followed in India. A cursory glance of the conceptual study shows limitations along with reliability of the reporting practices and suggests measures to overcome the shortcomings of the financial reporting practices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20enterprise" title="corporate enterprise">corporate enterprise</a>, <a href="https://publications.waset.org/abstracts/search?q=cursory%20glance" title=" cursory glance"> cursory glance</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio" title=" portfolio"> portfolio</a>, <a href="https://publications.waset.org/abstracts/search?q=yawning%20gap" title=" yawning gap"> yawning gap</a> </p> <a href="https://publications.waset.org/abstracts/51875/an-introduction-to-corporate-financial-reporting-practices-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/51875.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">416</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">1678</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">1677</span> Comparison Study of Capital Protection Risk Management Strategies: Constant Proportion Portfolio Insurance versus Volatility Target Based Investment Strategy with a Guarantee</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Olga%20Biedova">Olga Biedova</a>, <a href="https://publications.waset.org/abstracts/search?q=Victoria%20Steblovskaya"> Victoria Steblovskaya</a>, <a href="https://publications.waset.org/abstracts/search?q=Kai%20Wallbaum"> Kai Wallbaum</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the current capital market environment, investors constantly face the challenge of finding a successful and stable investment mechanism. Highly volatile equity markets and extremely low bond returns bring about the demand for sophisticated yet reliable risk management strategies. Investors are looking for risk management solutions to efficiently protect their investments. This study compares a classic Constant Proportion Portfolio Insurance (CPPI) strategy to a Volatility Target portfolio insurance (VTPI). VTPI is an extension of the well-known Option Based Portfolio Insurance (OBPI) to the case where an embedded option is linked not to a pure risky asset such as e.g., S&P 500, but to a Volatility Target (VolTarget) portfolio. VolTarget strategy is a recently emerged rule-based dynamic asset allocation mechanism where the portfolio’s volatility is kept under control. As a result, a typical VTPI strategy allows higher participation rates in the market due to reduced embedded option prices. In addition, controlled volatility levels eliminate the volatility spread in option pricing, one of the frequently cited reasons for OBPI strategy fall behind CPPI. The strategies are compared within the framework of the stochastic dominance theory based on numerical simulations, rather than on the restrictive assumption of the Black-Scholes type dynamics of the underlying asset. An extended comparative quantitative analysis of performances of the above investment strategies in various market scenarios and within a range of input parameter values is presented. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=CPPI" title="CPPI">CPPI</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20insurance" title=" portfolio insurance"> portfolio insurance</a>, <a href="https://publications.waset.org/abstracts/search?q=stochastic%20dominance" title=" stochastic dominance"> stochastic dominance</a>, <a href="https://publications.waset.org/abstracts/search?q=volatility%20target" title=" volatility target"> volatility target</a> </p> <a href="https://publications.waset.org/abstracts/83288/comparison-study-of-capital-protection-risk-management-strategies-constant-proportion-portfolio-insurance-versus-volatility-target-based-investment-strategy-with-a-guarantee" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/83288.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">167</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">1676</span> Experimental Investigation on the Effect of Bond Thickness on the Interface Behaviour of Fibre Reinforced Polymer Sheet Bonded to Timber</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abbas%20Vahedian">Abbas Vahedian</a>, <a href="https://publications.waset.org/abstracts/search?q=Rijun%20Shrestha"> Rijun Shrestha</a>, <a href="https://publications.waset.org/abstracts/search?q=Keith%20Crews"> Keith Crews</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The bond mechanism between timber and fibre reinforced polymer (FRP) is relatively complex and is influenced by a number of variables including bond thickness, bond width, bond length, material properties, and geometries. This study investigates the influence of bond thickness on the behaviour of interface, failure mode, and bond strength of externally bonded FRP-to-timber interface. In the present study, 106 single shear joint specimens have been investigated. Experiment results showed that higher layers of FRP increase the ultimate load carrying capacity of interface; conversely, such increase led to decrease the slip of interface. Moreover, samples with more layers of FRPs may fail in a brittle manner without noticeable warning that collapse is imminent. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fibre%20reinforced%20polymer" title="fibre reinforced polymer">fibre reinforced polymer</a>, <a href="https://publications.waset.org/abstracts/search?q=FRP" title=" FRP"> FRP</a>, <a href="https://publications.waset.org/abstracts/search?q=single%20shear%20test" title=" single shear test"> single shear test</a>, <a href="https://publications.waset.org/abstracts/search?q=bond%20thickness" title=" bond thickness"> bond thickness</a>, <a href="https://publications.waset.org/abstracts/search?q=bond%20strength" title=" bond strength"> bond strength</a> </p> <a href="https://publications.waset.org/abstracts/100515/experimental-investigation-on-the-effect-of-bond-thickness-on-the-interface-behaviour-of-fibre-reinforced-polymer-sheet-bonded-to-timber" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/100515.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">229</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">1675</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">1674</span> Understanding the Nature of Capital Allocation Problem in Corporate Finance</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Meltem%20Gurunlu">Meltem Gurunlu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> One of the central problems in corporate finance is the allocation of funds. This usually takes two forms: allocation of funds across firms in an economy or allocation of funds across projects or business units within a firm. The first one is typically related to the external markets (the bond market, the stock market, banks and finance companies) whereas the second form of the capital allocation is related to the internal capital markets in which corporate headquarters allocate capital to their business units. (within-group transfers, within-group credit markets, and within-group equity market). The main aim of this study is to investigate the nature of capital allocation dynamics by comparing the relevant studies carried out on external and internal capital markets with paying special significance to the business groups. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=internal%20capital%20markets" title="internal capital markets">internal capital markets</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20capital%20markets" title=" external capital markets"> external capital markets</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title=" capital structure"> capital structure</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20allocation" title=" capital allocation"> capital allocation</a>, <a href="https://publications.waset.org/abstracts/search?q=business%20groups" title=" business groups"> business groups</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20finance" title=" corporate finance"> corporate finance</a> </p> <a href="https://publications.waset.org/abstracts/89423/understanding-the-nature-of-capital-allocation-problem-in-corporate-finance" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89423.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">195</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">1673</span> Model-Independent Price Bounds for the Swiss Re Mortality Bond 2003</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Raj%20Kumari%20Bahl">Raj Kumari Bahl</a>, <a href="https://publications.waset.org/abstracts/search?q=Sotirios%20Sabanis"> Sotirios Sabanis</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we are concerned with the valuation of the first Catastrophic Mortality Bond that was launched in the market namely the Swiss Re Mortality Bond 2003. This bond encapsulates the behavior of a well-defined mortality index to generate payoffs for the bondholders. Pricing this bond is a challenging task. We adapt the payoff of the terminal principal of the bond in terms of the payoff of an Asian put option and present an approach to derive model-independent bounds exploiting comonotonic theory. We invoke Jensen’s inequality for the computation of lower bounds and employ Lagrange optimization technique to achieve the upper bound. The success of these bounds is based on the availability of compatible European mortality options in the market. We carry out Monte Carlo simulations to estimate the bond price and illustrate the strength of these bounds across a variety of models. The fact that our bounds are model-independent is a crucial breakthrough in the pricing of catastrophic mortality bonds. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=mortality%20bond" title="mortality bond">mortality bond</a>, <a href="https://publications.waset.org/abstracts/search?q=Swiss%20Re%20Bond" title=" Swiss Re Bond"> Swiss Re Bond</a>, <a href="https://publications.waset.org/abstracts/search?q=mortality%20index" title=" mortality index"> mortality index</a>, <a href="https://publications.waset.org/abstracts/search?q=comonotonicity" title=" comonotonicity"> comonotonicity</a> </p> <a href="https://publications.waset.org/abstracts/54923/model-independent-price-bounds-for-the-swiss-re-mortality-bond-2003" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/54923.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">250</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">1672</span> Corporate Social Responsibility and Its Impact on Corporate Governance: Comparative Study between Listed Companies on Bucharest and Bombay Stock Exchange</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=L.%20Feleag%C4%83">L. Feleagă</a>, <a href="https://publications.waset.org/abstracts/search?q=M.%20Dumitra%C8%99cu"> M. Dumitrașcu</a>, <a href="https://publications.waset.org/abstracts/search?q=N.%20Feleag%C4%83"> N. Feleagă</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness<em>, </em>identifies and articulates desirable behaviors, which are not intended to be exhaustive. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20social%20responsibility" title=" corporate social responsibility"> corporate social responsibility</a>, <a href="https://publications.waset.org/abstracts/search?q=disclosure" title=" disclosure"> disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=listed%20companies" title=" listed companies"> listed companies</a> </p> <a href="https://publications.waset.org/abstracts/61447/corporate-social-responsibility-and-its-impact-on-corporate-governance-comparative-study-between-listed-companies-on-bucharest-and-bombay-stock-exchange" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61447.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">309</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">1671</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">1670</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">1669</span> Place and Role of Corporate Governance in Japan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Feddaoui%20Amina">Feddaoui Amina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In a broad sense, corporate governance covers the organization of the control and management. The term is also used in a narrower sense, to refer to the relationship between shareholders, and the company’s board. There are a lot of discussions devoted to the understanding of the corporate governance role and its principles. In this paper, we are going to describe the definition of corporate governance as a control system and its principles, and find the role of corporate governance and its pillars. Finally, we are going to drop the theoretical study on the case of Japan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=place" title=" place"> place</a>, <a href="https://publications.waset.org/abstracts/search?q=role" title=" role"> role</a>, <a href="https://publications.waset.org/abstracts/search?q=Japan" title=" Japan"> Japan</a> </p> <a href="https://publications.waset.org/abstracts/48719/place-and-role-of-corporate-governance-in-japan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/48719.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">336</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">1668</span> Corporate Philanthropy as a Source of Competitive Advantage</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mateusz%20Rak">Mateusz Rak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Objective: The paper aims to present various sources of competitive advantage which may occur when an enterprise strategically applies its concept of corporate philanthropy. Methodology: The review of the literature and available reports on the research regarding corporate philanthropy. Results: Strategic philanthropy is a positive phenomenon. Unfortunately, enterprises in Poland do not see all positive sides of such activities yet. Three kinds of corporate philanthropy may be described. They are to fulfil a social duty, improve the company reputation and gain a competitive edge. Practical implications: Showing enterprises the advantages of taking philanthropic actions, in particular, a large role of strategic philanthropy in gaining a competitive edge in the market as well as how to avoid negative consequences of corporate philanthropy. The paper presents corporate philanthropy on a few layers: as a CSR element, actions generating values in products, actions improving a corporate image in the market, altruist actions of employees. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20philanthropy" title="corporate philanthropy">corporate philanthropy</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20social%20responsibility" title=" corporate social responsibility"> corporate social responsibility</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20foundations" title=" corporate foundations"> corporate foundations</a>, <a href="https://publications.waset.org/abstracts/search?q=CSR" title=" CSR"> CSR</a> </p> <a href="https://publications.waset.org/abstracts/46816/corporate-philanthropy-as-a-source-of-competitive-advantage" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/46816.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">251</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">1667</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">1666</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">1665</span> A Behaviourally Plausible Decision Centred Perspective on the Role of Corporate Governance in Corporate Failures </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Navdeep%20Kaur">Navdeep Kaur</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The primary focus of this study is to answer “What is the role of corporate governance in corporate failures? Does poor corporate governance lead to corporate failures? If so, how?”. In doing so, the study examines the literature from multiple fields, including corporate governance, corporate failures and organizational decision making, and presents a research gap to analyze and explore the relationship between corporate governance practices and corporate failures through a behavioral lens. In approaching this, a qualitative research methodology is adopted to analyze the failure of Enron Corporation (United States). The research considered the case study organizations as the primary unit of analysis and the decision-makers as the secondary unit of analysis. Based on this research approach, the study reports the analytical results drawn from extensive and triangulated secondary data. The study then interprets the results in the context of the theoretical synthesis. The study contributes towards filling a gap in the research and presents a behaviourally plausible decision centered model of the role of corporate governance in corporate failures. The model highlights the critical role of the behavioral aspects of corporate governance decision making in corporate failures and focuses attention on the under-explored aspects of corporate governance decision making. The study also suggests a further understanding of ‘A Behavioral Theory of the Firm’ in relation to corporate failures. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=behavior" title="behavior">behavior</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20failure" title=" corporate failure"> corporate failure</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <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=values" title=" values"> values</a> </p> <a href="https://publications.waset.org/abstracts/134132/a-behaviourally-plausible-decision-centred-perspective-on-the-role-of-corporate-governance-in-corporate-failures" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/134132.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">132</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">1664</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">1663</span> An Experimental Investigation of Bond Properties of Reinforcements Embedded in Geopolymer Concrete</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jee-Sang%20Kim">Jee-Sang Kim</a>, <a href="https://publications.waset.org/abstracts/search?q=Jong%20Ho%20Park"> Jong Ho Park</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Geopolymer concretes are a new class of construction materials that have emerged as an alternative to Ordinary Portland cement concrete. Considerable researches have been carried out on material development of geopolymer concrete, however, a few studies have been reported on the structural use of them. This paper presents the bond behaviors of reinforcement embedded in fly ash based geopolymer concrete. The development lengths of reinforcement for various compressive strengths of concrete, 20, 30 and 40 MPa, and reinforcement diameters, 10, 16, and 25 mm are investigated. Total 27 specimens were manufactured and pull-out test according to EN 10080 was applied to measure bond strength and slips between concrete and reinforcements. The average bond strengths decreased from 23.06MPa to 17.26 MPa, as the diameters of reinforcements increased from 10mm to 25mm. The compressive strength levels of geopolymer concrete showed no significant influence on bond strengths in this study. Also, the bond-slip relations between geopolymer concrete and reinforcement are derived using non-linear regression analysis for various experimental conditions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bond-slip%20relation" title="bond-slip relation">bond-slip relation</a>, <a href="https://publications.waset.org/abstracts/search?q=bond%20strength" title=" bond strength"> bond strength</a>, <a href="https://publications.waset.org/abstracts/search?q=geopolymer%20concrete" title=" geopolymer concrete"> geopolymer concrete</a>, <a href="https://publications.waset.org/abstracts/search?q=pull-out%20test" title=" pull-out test"> pull-out test</a> </p> <a href="https://publications.waset.org/abstracts/14860/an-experimental-investigation-of-bond-properties-of-reinforcements-embedded-in-geopolymer-concrete" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/14860.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">349</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">1662</span> Assessment of Korea's Natural Gas Portfolio Considering Panama Canal Expansion</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Juhan%20Kim">Juhan Kim</a>, <a href="https://publications.waset.org/abstracts/search?q=Jinsoo%20Kim"> Jinsoo Kim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> South Korea cannot import natural gas in any form other than LNG because of the division of South and North Korea. Further, the high proportion of natural gas in the national energy mix makes this resource crucial for energy security in Korea. Expansion of Panama Canal will allow for reducing the cost of shipping between the Far East and U.S East. Panama Canal expansion can have significant impacts on South Korea. Due to this situation, we review the natural gas optimal portfolio by considering the uniqueness of the Korean Natural gas market and expansion of Panama Canal. In order to assess Korea’s natural gas optimal portfolio, we developed natural gas portfolio model. The model comprises two steps. First, to obtain the optimal long-term spot contract ratio, the study examines the price level and the correlation between spot and long-term contracts by using the Markowitz, portfolio model. The optimal long-term spot contract ratio follows the efficient frontier of the cost/risk level related to this price level and degree of correlation. Second, by applying the obtained long-term contract purchase ratio as the constraint in the linear programming portfolio model, we determined the natural gas optimal import portfolio that minimizes total intangible and tangible costs. Using this model, we derived the optimal natural gas portfolio considering the expansion of Panama Canal. Based on these results, we assess the portfolio for natural gas import to Korea from the perspective of energy security and present some relevant policy proposals. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=natural%20gas" title="natural gas">natural gas</a>, <a href="https://publications.waset.org/abstracts/search?q=Panama%20Canal" title=" Panama Canal"> Panama Canal</a>, <a href="https://publications.waset.org/abstracts/search?q=portfolio%20analysis" title=" portfolio analysis"> portfolio analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=South%20Korea" title=" South Korea"> South Korea</a> </p> <a href="https://publications.waset.org/abstracts/67569/assessment-of-koreas-natural-gas-portfolio-considering-panama-canal-expansion" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/67569.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">291</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=corporate%20bond%20portfolio&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=corporate%20bond%20portfolio&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=corporate%20bond%20portfolio&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=corporate%20bond%20portfolio&page=5">5</a></li> <li class="page-item"><a class="page-link" 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