Modern portfolio theory: foundations, analysis, and new developments + website
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| Format: | Buch |
| Sprache: | English |
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Hoboken, N.J.
Wiley
2013
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| Schriftenreihe: | Wiley finance
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| Beschreibung: | XVIII, 554 S. graph. Darst. |
| ISBN: | 9781118370520 |
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| 100 | 1 | |a Francis, Jack Clark |d 1941- |e Verfasser |0 (DE-588)1064028640 |4 aut | |
| 245 | 1 | 0 | |a Modern portfolio theory |b foundations, analysis, and new developments + website |c Jack Clark Francis ; Dongcheol Kim |
| 264 | 1 | |a Hoboken, N.J. |b Wiley |c 2013 | |
| 300 | |a XVIII, 554 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Wiley finance | |
| 650 | 4 | |a Portfolio management | |
| 650 | 4 | |a Risk management | |
| 650 | 4 | |a Investment analysis | |
| 650 | 0 | 7 | |a Portfolio Selection |0 (DE-588)4046834-3 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Kapitalmarkttheorie |0 (DE-588)4137411-3 |2 gnd |9 rswk-swf |
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| 689 | 0 | 3 | |a Portfolio Selection |0 (DE-588)4046834-3 |D s |
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| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |z 978-1-118-43439-0 |
| 856 | 4 | 2 | |m Digitalisierung UB Bamberg |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025872164&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
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Datensatz im Suchindex
| _version_ | 1804150175445286912 |
|---|---|
| adam_text | Contents
Preface
xvii
CHAPTER
1
Introduction
1
1.1
The Portfolio Management Process
1
1.2
The Security Analyst s Job
1
1.3
Portfolio Analysis
2
1.3.1
Basic Assumptions
3
1.3.2
Reconsidering the Assumptions
3
1.4
Portfolio Selection
5
1.5
The Mathematics is Segregated
6
1.6
Topics to be Discussed
6
Appendix: Various Rates of Return
7
Al
Л
Calculating the Holding Period Return
7
Al.
2
After-Tax Returns
8
A1.3 Discrete and Continuously Compounded Returns
8
PART ONE
Probability Foundations
CHAPTER
2
Assessint
iRiSk
2.1
Mathematical Expectation
2.2
What Is Risk?
2.3
Expected Return
2.4
Risk of a Security
2.5
Covariance of Returns
2.6
Correlation of Returns
2.7
Using Historical Returns
2.8
Data Input Requirements
2.9
Portfolio Weights
2.10
A Portfolio s Expected Return
2.11
Portfolio Risk
2.12
Summary of Notations and Formulas
CHAPTERS
Risk and I
Diversification
13
13
15
16
17
18
19
20
22
22
23
23
27
29
3.1
Reconsidering Risk
29
3.1.1
Symmetric Probability Distributions
31
3.1.2
Fundamental Security Analysis
32
vii
viii
CONTENTS
3.2
Utility
Theory
32
3.2.1
Numerical Example
33
3.2.2
Indifference Curves
35
3.3
Risk-Return Space
36
3.4
Diversification
38
3.4.1
Diversification Illustrated
38
3.4.2
Risky A
+
Risky
В
=
Riskless Portfolio
39
3.4.3
Graphical Analysis
40
3.5
Conclusions
41
PART TWO
Utility Foundations
CHAPTER
4
Single-Period Utility Analysis
45
4.1
Basic Utility Axioms
46
4.2
The Utility of Wealth Function
47
4.3
Utility of Wealth and Returns
47
4.4
Expected Utility of Returns
48
4.5
Risk Attitudes
52
4.5.1
Risk Aversion
52
4.5.2
Risk-Loving Behavior
56
4.5.3
Risk-Neutral Behavior
57
4.6
Absolute Risk Aversion
59
4.7
Relative Risk Aversion
60
4.8
Measuring Risk Aversion
62
4.8.1
Assumptions
62
4.8.2
Power, Logarithmic, and Quadratic Utility
62
4.8.3
Isoelastic Utility Functions
64
4.8.4
Myopic, but Optimal
65
4.9
Portfolio Analysis
66
4.9.1
Quadratic Utility Functions
67
4.9.2
Using Quadratic Approximations to Delineate
MaxfE(Utility)] Portfolios
68
4.9.3
Normally Distributed Returns
69
4.10
Indifference Curves
69
4.10.1
Selecting Investments
71
4.10.2
Risk-Aversion Measures
73
4.11
Summary and Conclusions
74
Appendix: Risk Aversion and Indifference Curves
75
A4.1 Absolute Risk Aversion
(ARA)
75
A4.2 Relative Risk Aversion (RRA)
76
A4.3 Expected Utility of Wealth
77
A4.4
Slopes of Indifference Curves
77
A4.5
Indifference Curves for Quadratic Utility
79
Contents______________________________________________________________
lx
PARTTHRS
Mean-Variance Portfolio Analysis
CHAPTERS
Graphical Portfolio Analysis
85
5.1
Delineating Efficient Portfolios
85
5.2
Portfolio Analysis Inputs
86
5.3
Two-Asset Isomean Lines
87
5.4
Two-Asset Isovariance Ellipses
90
5.5
Three-Asset Portfolio Analysis
92
5.5.1
Solving for One Variable Implicitly
93
5.5.2
Isomean Lines
96
5.5.3
Isovariance Ellipses
97
5.5.4
The Critical Line
99
5.5.5
Inefficient Portfolios
101
5.6
Legitimate Portfolios
102
5.7
Unusual Graphical Solutions Don t Exist
103
5.8
Representing Constraints Graphically
103
5.9
The Interior Decorator Fallacy
103
5.10
Summary
104
Appendix: Quadratic Equations
105
A5.1 Quadratic Equations
105
A5.2 Analysis of Quadratics in Two Unknowns
106
A5.3 Analysis of Quadratics in One Unknown
107
A5.4 Solving an Ellipse
108
A5.5 Solving for Lines Tangent to a Set of Ellipses
110
CHAPTERS
Efficient Portfolios
113
6.1
Risk and Return for Two-Asset Portfolios
113
6.2
The Opportunity Set
114
6.2.1
The Two-Security Case
114
6.2.2
Minimizing Risk in the Two-Security Case
116
6.2.3
The Three-Security Case
117
6.2.4
The
и
-Security
Case
119
6.3 Markowitz
Diversification
120
6.4
Efficient Frontier without the Risk-Free Asset
123
6.5
Introducing a Risk-Free Asset
126
6.6
Summary and Conclusions
131
Appendix: Equations for a Relationship between E(rp) and
σρ
131
CHAPTER
7
Advanced Mathematical Portfolio Analysis
135
7.1
Efficient Portfolios without a Risk-Free Asset
135
7.1.1
A General Formulation
135
7.1.2
Formulating with Concise Matrix Notation
140
Χ
_______________________________________________________________________________CONTENTS
7.1.3
The Two-Fund Separation
Theorem 145
7.1.4
Caveat about Negative Weights
146
7.2
Efficient Portfolios with a Risk-Free Asset
146
7.3
Identifying the Tangency Portfolio
150
7.4
Summary and Conclusions
152
Appendix: Mathematical Derivation of the Efficient Frontier
152
A7.1 No Risk-Free Asset
152
A7.2 With a Risk-Free Asset
156
CHAPTERS
Index Models and Return-Generating Process
165
8.1
Single-Index Models
165
8.1.1
Return-Generating Functions
165
8.1.2
Estimating the Parameters
168
8.1.3
The Single-Index Model Using Excess Returns
171
8.1.4
The Riskless Rate Can Fluctuate
173
8.1.5
Diversification
176
8.1.6
About the Single-Index Model
177
8.2
Efficient Frontier and the Single-Index Model
178
8.3
Two-Index Models
186
8.3.1
Generating Inputs
187
8.3.2
Diversification
188
8.4
Multi-Index Models
189
8.5
Conclusions
190
Appendix: Index Models
191
A8.1 Solving for Efficient Portfolios with
the Single-Index Model
191
A8.2 Variance Decomposition
196
A8.3 Orthogonalizing Multiple Indexes
196
PART FOUR
Non-Mean-Variance Portfolios
CHAPTER
9
Non-Normal Distributions ol Returns
201
9.1
Stable
Paretian
Distributions
201
9.2
The Student s ¿-Distribution
204
9.3
Mixtures of Normal Distributions
204
9.3.1
Discrete Mixtures of Normal Distributions
204
9.3.2
Sequential Mixtures of Normal Distributions
205
9.4
Poisson
Jump-Diffusion Process
206
9.5 Lognormal
Distributions
206
9.5.1
Specifications of
Lognormal
Distributions
207
9.5.2
Portfolio Analysis under Lognormality
208
9.6
Conclusions
213
Contents
_______________________________________________________________________Xi
CHAPTER
10
Non-Mean-Variance Investment
Decisions
215
10.1 Geometrie
Mean Return Criterion
215
10.1.1
Maximizing the Terminal Wealth
216
10.1.2
Log Utility and the GMR Criterion
216
10.1.3
Diversification and the GMR
217
10.2
The Safety-First Criterion
218
10.2.1
Roy s Safety-First Criterion
218
10.2.2
Kataoka s Safety-First Criterion
222
10.2.3
Telser s Safety-First Criterion
225
10.3
Semivariance Analysis
228
10.3.1
Definition of Semivariance
228
10.3.2
Utility Theory
230
10.3.3
Portfolio Analysis with the Semivariance
231
10.3.4
Capital Market Theory with the Semivariance
234
10.3.5
Summary about Semivariance
236
10.4
Stochastic Dominance Criterion
236
10.4.1
First-Order Stochastic Dominance
236
10.4.2
Second-Order Stochastic Dominance
241
10.4.3
Third-Order Stochastic Dominance
244
10.4.4
Summary of Stochastic Dominance Criterion
245
10.5
Mean-Variance-Skewness Analysis
246
10.5.1
Only Two Moments Can Be Inadequate
246
10.5.2
Portfolio Analysis in Three Moments
247
10.5.3
Efficient Frontier in Three-Dimensional Space
249
10.5.4
Undiversifiable Risk and Undiversifiable Skewness
252
10.6
Summary and Conclusions
254
Appendix A: Stochastic Dominance
254
A10.1 Proof for First-Order Stochastic Dominance
254
A10.2 Proof That FA(r)
<
FB(r) Is Equivalent to
EA(r)
>
EB(r) for Positive
r
255
A10.3 Proof for Second-Order Stochastic Dominance
256
A10.4 Proof for Third-Order Stochastic Dominance
257
Appendix B: Expected Utility as a Function
of Three Moments
257
CHAPTER
11
Risk Management: Value at Risk
261
11.1
VaR of a Single Asset
261
11.2
Portfolio VaR
263
11.3
Decomposition of a Portfolio s VaR
265
11.3.1
Marginal VaR
265
11.3.2
Incremental VaR
266
11.3.3
Component VaR
267
11.4
Other VaRs
269
11.4.1
Modified VaR (MVaR)
269
11.4.2
Conditional VaR (CVaR)
270
ХИ
CONTENTS
11.5
Methods of Measuring
VaR 270
11.5.1 Variance-Covariance
(Delta-Normal) Method
270
11.5.2
Historical Simulation Method
274
11.5.3
Monte Carlo Simulation Method
276
11.6
Estimation of Volatilities
277
11.6.1
Unconditional Variance
277
11.6.2
Simple Moving Average
277
11.6.3
Exponentially Weighted Moving Average
278
11.6.4
GARCH-Based Volatility
278
11.6.5
Volatility Measures Using Price Range
279
11.6.6
Implied Volatility
281
11.7
The Accuracy of VaR Models
282
11.7.1
Back-Testing
283
11.7.2
Stress Testing
284
11.8
Summary and Conclusions
285
Appendix: The Delta-Gamma Method
285
PART RUE
Asset Pricing Models
CHAPTER
12
The Capital Asset Pricing Model
291
12.1
Underlying Assumptions
291
12.2
The Capital Market Line
292
12.2.1
The Market Portfolio
292
12.2.2
The Separation Theorem
293
12.2.3
Efficient Frontier Equation
294
12.2.4
Portfolio Selection
294
12.3
The Capital Asset Pricing Model
295
12.3.1
Background
295
12.3.2
Derivation of the CAPM
296
12.4
Over- and Under-priced Securities
299
12.5
The Market Model and the CAPM
300
12.6
Summary and Conclusions
301
Appendix: Derivations of the CAPM
301
A12.1 Other Approaches
301
Al
2.2
Tangency Portfolio Research
305
CHAPTER
13
Extensions of the Standard CAPM
311
13.1
Risk-Free Borrowing or Lending
311
13.1.1
The Zero-Beta Portfolio
311
13.1.2
No Risk-Free Borrowing
314
13.1.3
Lending and Borrowing Rates Can Differ
314
Contents_________________________________________________ Xiij
13.2
Homogeneous Expectations
316
13.2.1
Investment Horizons
316
13.2.2
Multivariate Distribution of Returns
317
13.3
Perfect Markets
318
13.3.1
Taxes
318
13.3.2
Transaction Costs
320
13.3.3
Indivisibilities
321
13.3.4
Price Competition
321
13.4
Unmarketable Assets
322
13.5
Summary and Conclusions
323
Appendix: Derivations of
a Non-Standard
САРМ
324
A13.1 The Characteristics of the Zero-Beta Portfolio
324
Al
3.2
Derivation of Brennan s After-Tax CAPM
325
A13.3 Derivation of Mayers s CAPM
for Nonmarketable Assets
328
CHAPTER
14
Empirical Tests of the CAPM
333
14.1
Time-Series Tests of the CAPM
333
14.2
Cross-Sectional Tests of the CAPM
335
14.2.1
Black, Jensen, and Scholes s
(1972)
Tests
336
14.2.2
Fama
and MacBeth s
(1973)
Tests
340
14.2.3
Fama
and French s
(1992)
Tests
344
14.3
Empirical Misspecifications in Cross-Sectional
Regression Tests
345
14.3.1
The Errors-in-Variables Problem
346
14.3.2
Sensitivity of Beta to the Return
Measurement Intervals
351
14.4
Multivariate Tests
353
14.4.1
Gibbons s
(1982)
Test
353
14.4.2
Stambaugh s
(1982)
Test
355
14.4.3
Jobson and Korkie s
(1982)
Test
355
14.4.4
Shanken s
(1985)
Test
356
14.4.5
Generalized Method of Moment (GMM) Tests
356
14.5
Is the CAPM Testable?
356
14.6
Summary and Conclusions
357
CHAPTER
15
Continuous-Time Asset Pricing Models
361
15.1
Intertemporal CAPM (ICAPM)
361
15.2
The Consumption-Based CAPM (CCAPM)
363
15.2.1
Derivation
363
15.2.2
The Consumption-Based CAPM with
a Power Utility Function
365
15.3
Conclusions
366
Appendix: Lognormality and the Consumption-Based CAPM
367
A15.1 Lognormality
367
A15.2 The Consumption-Based CAPM with Lognormality
367
CONTENTS
CHAPTER
16
Arbitrage
Pricing Theory
371
16.1
Arbitrage Concepts
371
16.2
Index Arbitrage
375
16.2.1
Basic Ideas of Index Arbitrage
376
16.2.2
Index Arbitrage and Program Trading
377
16.2.3
Use of ETFs for Index Arbitrage
377
16.3
The Asset Pricing Equation
378
16.3.1
One Single Factor with No Residual Risk
379
16.3.2
Two Factors with No Residual Risk
380
16.3.3
К
Factors with No Residual Risk
381
16.3.4
К
Factors with Residual Risk
382
16.4
Asset Pricing on a Security Market Plane
383
16.5
Contrasting APT with CAPM
385
16.6
Empirical Evidence
386
16.7
Comparing the APT and CAPM Empirically
388
16.8
Conclusions
389
PART SIX
Implementing the Theory
CHAPTER
17
Portfolio Construction and Selection
395
17.1
Efficient Markets
395
17.1.1
Fama s Classifications
395
17.1.2
Formal Models
396
17.2
Using Portfolio Theories to Construct and Select Portfolios
398
17.3
Security Analysis
400
17.4
Market Timing
401
НАЛ
Forecasting Beta
401
17.4.2
Nonstationarity of Beta
404
17.4.3
Determinants of Beta
406
17.5
Diversification
407
17.5.1
Simple Diversification
408
17.5.2
Timing and Diversification
409
17.5.3
International Diversification
411
17.6
Constructing an Active Portfolio
415
17.7
Portfolio Revision
424
17.7.1
Portfolio Revision Costs
424
17.7.2
Controlled Transition
426
17.7.3
The Attainable Efficient Frontier
428
17.7.4
A Turnover-Constrained Approach
428
17.8
Summary and Conclusions
430
Appendix: Proofs for Some Ratios from Active Portfolios
431
A17.1 Proof for ocA/a?A
=
Σ£,(α,·/σ,2)
431
Al
7.2
Proof for
(αΑβΑ
/a¿
) =
Σ£,
(cÌ,
Д/о,*
) 431
Al
7.3
Proof for (a /afA)
=
^{af/af.)
432
Contents
XV
CHAPTER
18
Portfolio Performance Evaluation
435
18.1
Mutual Fund Returns
435
18.2
Portfolio Performance Analysis in the Good Old Days
436
18.3
Capital Market Theory Assumptions
438
18.4
Single-Parameter Portfolio Performance Measures
438
18.4.1
Sharpe s Reward-to-Variability Ratio
439
18.4.2
Treynor s Reward-to-Risk Ratio
441
18.4.3
Jensen s Measure
444
18.4.4
Information Ratio (or Appraisal Ratio)
447
18.4.5
M2 Measure
448
18.5
Market Timing
449
18.5.1
Interpreting the Market Timing Coefficient
450
18.5.2
Henriksson
and Merton s Model
451
18.5.3
Descriptive Comments
452
18.6
Comparing Single-Parameter Portfolio Performance Measures
452
18.6.1
Ranking Undiversified Investments
452
18.6.2
Contrasting the Three Models
453
18.6.3
Survivorship Bias
454
18.7
The Index of Total Portfolio Risk (ITPR) and the Portfolio
Beta
454
18.8
Measurement Problems
457
18.8.1
Measurement of the Market Portfolio s Returns
458
18.8.2
Nonstationarity of Portfolio Return Distributions
460
18.9
Do Winners or Losers Repeat?
461
18.10
Summary about Investment Performance Evaluation
465
Appendix:
Sharpe
Ratio of an Active Portfolio
467
A18.1 Proof that S2q
=
Ѕ2т + [аА/а(вА)]2
467
CHAPTER
19
Performance Attribution
478
19.1
Factor Model Analysis
474
19.2
Return-Based Style Analysis
475
19.3
Return Decomposition-Based Analysis
479
19.4
Conclusions
485
19.4.1
Detrimental Uses of Portfolio Performance
Attribution
486
19.4.2
Symbiotic Possibilities
486
Appendix: Regression Coefficients Estimation with Constraints
486
A19.1 With No Constraints
487
Al
9.2
With the Constraint of
Z%=]ßik = 1 487
CHAPTER
20
Stock Market Developments
489
20.1
Recent NYSE Consolidations
489
20.1.1
Archipelago
490
20.1.2
Pacific Stock Exchange
(PSE)
490
ХИ
____________________________________________________________________
CONTENTS
20.1.3
ArcaEx
490
20.1.4
New York Stock Exchange (NYSE)
490
20.1.5
NYSE Group
491
20.1.6
NYSE Diversifies Internationally
491
20.1.7
NYSE Alliances
491
20.2
International Securities Exchange (ISE)
492
20.3
Nasdaq
492
20.3.1
London Stock Exchange
(LSE)
493
20.3.2
OMX Group
493
20.3.3
Bourse Dubai
493
20.3.4
Boston Stock Exchange (BSE)
494
20.3.5
Philadelphia Stock Exchange (PHLX)
494
20.4
Downward Pressures on Transactions Costs
494
20.4.1
A National Market System
(NMS)
495
20.4.2
The SEC s Reg ATS
496
20.4.3
RegFD
496
20.4.4
Decimalization of Stock Prices
496
20.4.5
Technological Advances
496
20.5
The Venerable Limit Order
497
20.5.1
What Are Limit Orders?
497
20.5.2
Creating Market Liquidity
498
20.6
Market Microstructure
498
20.6.1
Inventory Management
498
20.6.2
Brokers
499
20.7
High-Frequency Trading
499
20.8
Alternative Trading Systems (ATSs)
500
20.8.1
Crossing Networks
500
20.8.2
Dark Pools
500
20.9
Algorithmic Trading
501
20.9.1
Some Algorithmic Trading Applications
501
20.9.2
Trading Curbs
503
20.9.3
Conclusions about Algorithmic Trading
504
20.10
Symbiotic Stock Market Developments
505
20.11
Detrimental Stock Market Developments
505
20.12
Summary and Conclusions
506
Mathematical Appendixes
509
Bibliography
519
About the Authors
539
Author Index
541
Subject Index
547
|
| any_adam_object | 1 |
| author | Francis, Jack Clark 1941- |
| author_GND | (DE-588)1064028640 (DE-588)171051114 |
| author_facet | Francis, Jack Clark 1941- |
| author_role | aut |
| author_sort | Francis, Jack Clark 1941- |
| author_variant | j c f jc jcf |
| building | Verbundindex |
| bvnumber | BV040892547 |
| classification_rvk | QK 810 SK 980 |
| ctrlnum | (OCoLC)816180624 (DE-599)BVBBV040892547 |
| discipline | Mathematik Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV040892547 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T00:34:45Z |
| institution | BVB |
| isbn | 9781118370520 |
| language | English |
| lccn | 2012032323 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025872164 |
| oclc_num | 816180624 |
| open_access_boolean | |
| owner | DE-1050 DE-473 DE-BY-UBG DE-1043 DE-384 |
| owner_facet | DE-1050 DE-473 DE-BY-UBG DE-1043 DE-384 |
| physical | XVIII, 554 S. graph. Darst. |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | Wiley |
| record_format | marc |
| series2 | Wiley finance |
| spelling | Francis, Jack Clark 1941- Verfasser (DE-588)1064028640 aut Modern portfolio theory foundations, analysis, and new developments + website Jack Clark Francis ; Dongcheol Kim Hoboken, N.J. Wiley 2013 XVIII, 554 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wiley finance Portfolio management Risk management Investment analysis Portfolio Selection (DE-588)4046834-3 gnd rswk-swf Kapitalmarkttheorie (DE-588)4137411-3 gnd rswk-swf Wirtschaftsmathematik (DE-588)4066472-7 gnd rswk-swf Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf Wirtschaftsmathematik (DE-588)4066472-7 s Kapitalmarkttheorie (DE-588)4137411-3 s Portfoliomanagement (DE-588)4115601-8 s Portfolio Selection (DE-588)4046834-3 s DE-604 Kim, Dongcheol 1955- Sonstige (DE-588)171051114 oth Erscheint auch als Online-Ausgabe 978-1-118-41763-8 Erscheint auch als Online-Ausgabe 978-1-118-42186-4 Erscheint auch als Online-Ausgabe 978-1-118-43439-0 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025872164&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Francis, Jack Clark 1941- Modern portfolio theory foundations, analysis, and new developments + website Portfolio management Risk management Investment analysis Portfolio Selection (DE-588)4046834-3 gnd Kapitalmarkttheorie (DE-588)4137411-3 gnd Wirtschaftsmathematik (DE-588)4066472-7 gnd Portfoliomanagement (DE-588)4115601-8 gnd |
| subject_GND | (DE-588)4046834-3 (DE-588)4137411-3 (DE-588)4066472-7 (DE-588)4115601-8 |
| title | Modern portfolio theory foundations, analysis, and new developments + website |
| title_auth | Modern portfolio theory foundations, analysis, and new developments + website |
| title_exact_search | Modern portfolio theory foundations, analysis, and new developments + website |
| title_full | Modern portfolio theory foundations, analysis, and new developments + website Jack Clark Francis ; Dongcheol Kim |
| title_fullStr | Modern portfolio theory foundations, analysis, and new developments + website Jack Clark Francis ; Dongcheol Kim |
| title_full_unstemmed | Modern portfolio theory foundations, analysis, and new developments + website Jack Clark Francis ; Dongcheol Kim |
| title_short | Modern portfolio theory |
| title_sort | modern portfolio theory foundations analysis and new developments website |
| title_sub | foundations, analysis, and new developments + website |
| topic | Portfolio management Risk management Investment analysis Portfolio Selection (DE-588)4046834-3 gnd Kapitalmarkttheorie (DE-588)4137411-3 gnd Wirtschaftsmathematik (DE-588)4066472-7 gnd Portfoliomanagement (DE-588)4115601-8 gnd |
| topic_facet | Portfolio management Risk management Investment analysis Portfolio Selection Kapitalmarkttheorie Wirtschaftsmathematik Portfoliomanagement |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025872164&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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