Microfinance investment funds: an analysis of profitability
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Stuttgart
Ibidem-Verl.
2011
|
| Series: | University meets microfinance
5 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 107 S. graph. Darst. |
| ISBN: | 9783838202518 |
Staff View
MARC
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Record in the Search Index
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| adam_text | IMAGE 1
TABLE OF CONTENTS
INTRODUCTION 9
1. AN OVERVIEW OF MICROFINANCE INVESTMENT VEHICLES (MIVS) 13
1.1 DEFINITION AND EVOLUTION OF MIVS 13
1.2 THE LANDSCAPE OF MIVS 16
1.2.1 INTRODUCTION 16
1.2.2 RETURNS 20
1.2.3 INVESTOR PROFILES 25
1.3 CLASSIFICATION OF MIVS 30
1.3.1 MICROFINANCE FUNDS 30
1.3.2 STRUCTURED MICROFINANCE DEBT INSTRUMENTS 32
1.4 OTHER DISTRIBUTIONS 33
1.4.1 CLASSIFICATION BASED ON THEIR OBJECTIVE 33
1.5 MAIN ADVANTAGES IN INVESTING IN MIVS 35
2. METHODOLOGY OF ANALYSIS 37
2. 1 RESEARCH APPROACHES 37
2.2 MODEL OF REFERENCE 38
2.3 PERFORMANCE MEASURES 41
2.3.1 SHARPE RATIO 42
2.3.2 TREYNOR RATIO 44
2.3.3 ALPHA OF JENSEN 45
2.4 RISK MEASURES 47
2.4.1 STANDARD DEVIATION 49
2.4.2 BETA 52
2.4.3 R-SQUARED (ORR2) . 55
2.5 BENCHMARK 55
BIBLIOGRAFISCHE INFORMATIONEN HTTP://D-NB.INFO/1012020479
DIGITALISIERT DURCH
IMAGE 2
8 TABLE OF CONTENTS
3. EMPIRICAL ANALYSIS 59
3.1 FEATURES OF ANALYSED MIVS 59
3.2 RESULTS OF ANALYSIS 64
3.2.1 HISTORICAL RETURNS AND STANDARD DEVIATION 64
3.2.2 RISK AND RETURNS YEAR BY YEAR 68
3.2.3 BETA AND R-SQUARED 70
3.2.4 BETA AND R-SQUARED YEAR BY YEAR 72
3.2.5 ALPHA OF JENSEN 75
3.2.6 ALPHA OF JENSEN YEAR BY YEAR 77
3.2.7 SHARPE AND TREYNOR RATIOS 81
3.2.7 SHARPE RATIO YEAR BY YEAR 84
3.3 SOCIAL PERFORMANCE CONSIDERATIONS 87
APPENDIX 1: RETURNS OF MIVS FROM APRIL 2007 TO APRIL 2010 93
APPENDIX 2: JENSEN S ALPHA AGAINST BENCHMARKS 99
CONCLUSIONS 101
REFERENCES................................................................................................................
103
GLOSSARY......................... ...... .......... 109
|
| any_adam_object | 1 |
| author | De Lorenzo, Maria Cristina |
| author_GND | (DE-588)1018265139 |
| author_facet | De Lorenzo, Maria Cristina |
| author_role | aut |
| author_sort | De Lorenzo, Maria Cristina |
| author_variant | l m c d lmc lmcd |
| building | Verbundindex |
| bvnumber | BV040035188 |
| classification_rvk | QM 353 |
| ctrlnum | (OCoLC)778133683 (DE-599)DNB1012020479 |
| dewey-full | 332.6327 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.6327 |
| dewey-search | 332.6327 |
| dewey-sort | 3332.6327 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| isbn | 9783838202518 |
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| physical | 107 S. graph. Darst. |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | Ibidem-Verl. |
| record_format | marc |
| series | University meets microfinance |
| series2 | University meets microfinance |
| spelling | De Lorenzo, Maria Cristina Verfasser (DE-588)1018265139 aut Microfinance investment funds an analysis of profitability Maria Cristina De Lorenzo Stuttgart Ibidem-Verl. 2011 107 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier University meets microfinance 5 Zugl.: Diss. Kapitalanlage (DE-588)4073213-7 gnd rswk-swf Mikrofinanzierung (DE-588)4835581-1 gnd rswk-swf Investmentfonds (DE-588)4114047-3 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Mikrofinanzierung (DE-588)4835581-1 s Investmentfonds (DE-588)4114047-3 s Kapitalanlage (DE-588)4073213-7 s DE-604 University meets microfinance 5 (DE-604)BV037199626 5 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024892001&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | De Lorenzo, Maria Cristina Microfinance investment funds an analysis of profitability University meets microfinance Kapitalanlage (DE-588)4073213-7 gnd Mikrofinanzierung (DE-588)4835581-1 gnd Investmentfonds (DE-588)4114047-3 gnd |
| subject_GND | (DE-588)4073213-7 (DE-588)4835581-1 (DE-588)4114047-3 (DE-588)4113937-9 |
| title | Microfinance investment funds an analysis of profitability |
| title_auth | Microfinance investment funds an analysis of profitability |
| title_exact_search | Microfinance investment funds an analysis of profitability |
| title_full | Microfinance investment funds an analysis of profitability Maria Cristina De Lorenzo |
| title_fullStr | Microfinance investment funds an analysis of profitability Maria Cristina De Lorenzo |
| title_full_unstemmed | Microfinance investment funds an analysis of profitability Maria Cristina De Lorenzo |
| title_short | Microfinance investment funds |
| title_sort | microfinance investment funds an analysis of profitability |
| title_sub | an analysis of profitability |
| topic | Kapitalanlage (DE-588)4073213-7 gnd Mikrofinanzierung (DE-588)4835581-1 gnd Investmentfonds (DE-588)4114047-3 gnd |
| topic_facet | Kapitalanlage Mikrofinanzierung Investmentfonds Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024892001&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV037199626 |
| work_keys_str_mv | AT delorenzomariacristina microfinanceinvestmentfundsananalysisofprofitability |