Investing in microfinance: integrating new asset classes into an asset allocation framework applying scenario methodology
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Wiesbaden
Gabler
2010
|
| Edition: | 1. ed. |
| Series: | Gabler research
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XX, 166 S. graph. Darst. |
| ISBN: | 9783834925671 |
Staff View
MARC
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Record in the Search Index
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| adam_text | IMAGE 1
VII
BRIEF CONTENTS
ACKNOWLEDGEMENTS V
BRIEF CONTENTS VII
TABLE OF CONTENTS IX
ABSTRACT XIII
ZUSAMMENFASSUNG XIV
LIST OF FIGURES XV
LIST OF ABBREVIATIONS XIX
1 INTRODUCTION 1
2 ASSET ALLOCATION FRAMEWORK. 5
3 SCENARIO APPROACH IN ASSET ALLOCATION 24
4 MICROFINANCE 46
5 SCENARIO PROCESS MICROFINANCE 81
6 ASSET ALLOCATION MODEL 119
7 CONCLUSION 140
BIBLIOGRAPHY 144
INTERVIEWS 153
APPENDIX 154
BIBLIOGRAFISCHE INFORMATIONEN HTTP://D-NB.INFO/1004366213
DIGITALISIERT DURCH
IMAGE 2
IX
TABLE OF CONTENTS
ACKNOWLEDGEMENTS V
BRIEF CONTENTS VII
TABLE OF CONTENTS IX
ABSTRACT XIII
ZUSAMMENFASSUNG XIV
LIST OF FIGURES XV
LIST OF ABBREVIATIONS XIX
1 INTRODUCTION 1
1.1 GENERAL MOTIVATION 1
1.2 RESEARCH QUESTIONS 3
1.3 OUTLINE 3
2 ASSET ALLOCATION FRAMEWORK 5
2.1 ASSET ALLOCATION 5
2.2 PORTFOLIO THEORY 8
2.2.1 MEAN-VARIANCE CONCEPT 9
2.2.2 SHORTFALL CONCEPT 12
2.3 INVESTORS UTILITY PREFERENCE AND CATEGORIZATION 16
2.3.1 PRIVATE INVESTORS 17
2.3.2 INSTITUTIONAL INVESTORS 19
2.4 ASSET ALLOCATION REQUIREMENTS 21
2.5 SUMMARY 22
IMAGE 3
3 SCENARIO APPROACH IN ASSET ALLOCATION 24
3.1 IDEA OF SCENARIO ANALYSIS 24
3.2 THE SCENARIO PROCESS 27
3.3 CRITICAL ASSESSMENT OF THE SCENARIO APPROACH 30
3.4 EXAMPLES OF SCENARIO ANALYSES 33
3.4.1 SCENARIO ANALYSIS THE FUTURE OF THE GLOBAL FINANCIAL SYSTEM 34
3.4.2 SCENARIO ANALYSIS EUROPEAN ENERGY SECURITY 2020 37
3.5 COMBINING SCENARIO APPROACH AND ASSET ALLOCATION 41
3.6 SUMMARY 45
4 MICROFINANCE 46
4.1 INTRODUCTION TO MICROFINANCE 46
4.1.1 EVOLUTION OF MICROFINANCE 46
4.1.2 DEFINITIONS AND CATEGORIES 47
4.2 MICROFINANCE MARKET FROM AN INVESTMENT PERSPECTIVE 49
4.2.1 MARKET OVERVIEW 49
4.2.2 MICROFINANCE USERS 51
4.2.3 MICROFINANCE INSTITUTIONS 53
4.2.4 MICROFINANCE INVESTMENT VEHICLES 57
4.2.5 MICROFINANCE SERVICE PROVIDERS 60
4.3 MARKET SITUATION 62
4.3.1 CURRENT MARKET CONDITIONS 62
4.3.2 IMPACT OF FINANCIAL CRISIS 65
4.3.3 MARKET POTENTIAL 68
4.4 MICROFINANCE INVESTMENTS - INSIGHTS AND QUANTITATIVE ANALYSIS 70
4.4.1 DEXIA MICROCREDIT FUND 70
4.4.2 RESPONSABILITY GLOBAL MICROFINANCE FUND 74
4.4.3 STRUCTURED PRODUCTS 75
IMAGE 4
XI
4.4.4 PROCREDIT HOLDING 76
4.5 MICROFINANCE INVESTMENTS IN AN ASSET ALLOCATION FRAMEWORK 77
4.6 SUMMARY 79
5 SCENARIO PROCESS MICROFINANCE 81
5.1 SETUP 81
5.1.1 DEFINING THE GOAL 81
5.1.2 METHODOLOGY 82
5.1.3 SETUP OF PROCESS 83
5.1.4 TEAM SELECTION AND PARTICIPANTS 85
5.2 THE PROCESS 89
5.2.1 PREPARATIONS 89
5.2.2 WORKSHOP 1 90
5.2.3 WORKSHOP II 103
5.2.4 CLOSING DAY 110
5.3 IMPLICATIONS OF SCENARIO PROCESS MICROFINANCE FOR ASSET ALLOCATION
113
5.3.1 PARAMETERS FOR THE ASSET ALLOCATION FRAMEWORK 113
5.3.2 COSTS OF A SCENARIO PROCESS 117
5.4 SUMMARY 117
6 ASSET ALLOCATION MODEL 119
6.1 DATA AND ASSUMPTIONS 119
6.1.1 SELECTION OF ASSET CLASSES AND DATA 119
6.1.2 INPUT PARAMETERS FOR PORTFOLIO OPTIMIZATION 122
6.2 ASSET ALLOCATION OPTIMIZATION EXCLUDING MICROFINANCE 128
6.3 ASSET ALLOCATION OPTIMIZATION INCLUDING MICROFINANCE 129
6.3.1 OPTIMIZATION WITH QUANTITATIVE MICROFINANCE PARAMETERS 129
6.3.2 OPTIMIZATION WITH QUALITATIVE MICROFINANCE PARAMETERS 131
6.4 IMPLICATION FOR ASSET ALLOCATION 132
IMAGE 5
XII
6.4.1 CROSS-COMPARISON OF PORTFOLIOS 132
6.4.2 CROSS-COMPARISON OF PORTFOLIO BACKTESTS 135
6.4.3 IMPLICATIONS FOR INVESTORS 136
6.4.4 MICROFINANCE INVESTMENT LIMITATIONS 138
6.5 SUMMARY 138
7 CONCLUSION 140
7.1 SUMMARY OF RESULTS 140
7.2 OUTLOOK AND IMPLICATIONS 142
BIBLIOGRAPHY 144
INTERVIEWS 153
APPENDIX 154
|
| any_adam_object | 1 |
| author | Becker, Philipp M. 1982- |
| author_GND | (DE-588)14251974X |
| author_facet | Becker, Philipp M. 1982- |
| author_role | aut |
| author_sort | Becker, Philipp M. 1982- |
| author_variant | p m b pm pmb |
| building | Verbundindex |
| bvnumber | BV036619414 |
| classification_rvk | QM 353 QP 800 |
| ctrlnum | (OCoLC)670416059 (DE-599)DNB1004366213 |
| dewey-full | 332.6015118 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.6015118 |
| dewey-search | 332.6015118 |
| dewey-sort | 3332.6015118 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. ed. |
| format | Thesis Book |
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| indexdate | 2024-07-09T22:44:19Z |
| institution | BVB |
| isbn | 9783834925671 |
| language | English |
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| physical | XX, 166 S. graph. Darst. |
| publishDate | 2010 |
| publishDateSearch | 2010 |
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| series2 | Gabler research |
| spelling | Becker, Philipp M. 1982- Verfasser (DE-588)14251974X aut Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology Philipp M. Becker 1. ed. Wiesbaden Gabler 2010 XX, 166 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Gabler research Zugl.: St. Gallen, Univ., Diss., 2010 Investition (DE-588)4027556-5 gnd rswk-swf Mikrofinanzierung (DE-588)4835581-1 gnd rswk-swf Portfolio Selection (DE-588)4046834-3 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Investition (DE-588)4027556-5 s Portfolio Selection (DE-588)4046834-3 s Mikrofinanzierung (DE-588)4835581-1 s DE-604 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020539468&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Becker, Philipp M. 1982- Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology Investition (DE-588)4027556-5 gnd Mikrofinanzierung (DE-588)4835581-1 gnd Portfolio Selection (DE-588)4046834-3 gnd |
| subject_GND | (DE-588)4027556-5 (DE-588)4835581-1 (DE-588)4046834-3 (DE-588)4113937-9 |
| title | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology |
| title_auth | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology |
| title_exact_search | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology |
| title_full | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology Philipp M. Becker |
| title_fullStr | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology Philipp M. Becker |
| title_full_unstemmed | Investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology Philipp M. Becker |
| title_short | Investing in microfinance |
| title_sort | investing in microfinance integrating new asset classes into an asset allocation framework applying scenario methodology |
| title_sub | integrating new asset classes into an asset allocation framework applying scenario methodology |
| topic | Investition (DE-588)4027556-5 gnd Mikrofinanzierung (DE-588)4835581-1 gnd Portfolio Selection (DE-588)4046834-3 gnd |
| topic_facet | Investition Mikrofinanzierung Portfolio Selection Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020539468&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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