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Titlebook: Investment Decisions on Illiquid Assets; A Search Theoretical Jaros?aw Morawski Book 2009 Gabler Verlag | Springer Fachmedien Wiesbaden Gmb

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書目名稱Investment Decisions on Illiquid Assets
副標(biāo)題A Search Theoretical
編輯Jaros?aw Morawski
視頻videohttp://file.papertrans.cn/475/474973/474973.mp4
圖書封面Titlebook: Investment Decisions on Illiquid Assets; A Search Theoretical Jaros?aw Morawski Book 2009 Gabler Verlag | Springer Fachmedien Wiesbaden Gmb
描述The Portfolio Selection Model developed by Markowitz in the 1950s offers a theore- cally founded approach to combining securities into a utility-optimizing investment portfolio, that is, a portfolio leading to the best possible trade-off between the expected return and investment risk. However, when applied in practice, the model often rea- es its limits as soon as certain central assumptions are not fulfilled. This holds es- cially for the assumption of perfect liquidity of all assets in the portfolio, that is, the ability of selling or buying any of these assets at any time immediately and without influencing its market price. A serious additional source of investment risk may arise when no organized and centralized market for a specific asset exists that would d- close the currently prevailing price level, and when the valuations of the asset differ strongly among market participants. Examples of such assets characterized by limited liquidity and valuations’ heterogeneity are direct real estate investments, private eq- ty, and many other privately traded goods. A number of rather simple extensions to the Markowitz model allowing for listed - curities with limited liquidity have
出版日期Book 2009
關(guān)鍵詞Estate; Immobilien; Investment; Liquidit?t; Portfolio; Portfolio Management; Preisgekr?nt
版次1
doihttps://doi.org/10.1007/978-3-8349-9955-9
isbn_softcover978-3-8349-1004-2
isbn_ebook978-3-8349-9955-9
copyrightGabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2009
The information of publication is updating

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Book 2009izing investment portfolio, that is, a portfolio leading to the best possible trade-off between the expected return and investment risk. However, when applied in practice, the model often rea- es its limits as soon as certain central assumptions are not fulfilled. This holds es- cially for the assum
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s and, in some cases, on external repositories. After, the information gathered is analysed, selected, filtered, transformed and integrated in special data storage units, commonly named by data warehouses systems. To do all the previous tasks properly, it is necessary to dispense significant efforts
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of GERT, many papers have been published to show its application in various fields of engineering, management and system study. Application to information systems in general and business processes in particular has not yet been shown in the literature. One of the strengths of the GERT networks is t
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s and, in some cases, on external repositories. After, the information gathered is analysed, selected, filtered, transformed and integrated in special data storage units, commonly named by data warehouses systems. To do all the previous tasks properly, it is necessary to dispense significant efforts
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