Investment Portfolios(投资组合)研究综述
Investment Portfolios 投资组合 - Evidence suggests that, in some cases, such investors tend to maximize the social performance over the financial performance; in some others, the effect is reverted, but literature currently lacks studies aligning the analysis of the investment decisions with the investment portfolios. [1] Thus, in today’s turbulent market environments an essential issue arises as to how to set up an effective pre-warning model that provides managers with specific avenues to avoid financial troubles from getting worse and offers investors useful directions to adjust their investment portfolios. [2] We highlight that the healthcare and energy sector stocks behave as net recipients of both, returns and volatility;hence, a certain caution is required while including them in investment portfolios. [3] Our results can be useful to interpret data emanating from stock market collapse or reconstitution of investment portfolios. [4] The paper also explains the changes in the investment behaviour of endowments, including how the size of endowment influences the asset structure of funds' investment portfolios and return. [5] Main advantages of international diversification of investment portfolios in terms of performance-risk ratio are defined. [6] This research opens the door for a new dimension to studying how to work on the governance of investors’ decisions, rationalizing those decisions and their effectiveness, which ultimately contributes to achieving high returns on their investment portfolios. [7] We found strong empirical support for the status quo bias in three decision scenarios out of the four, including budget allocation (Scenario 1/Question 1 in the original article), investment portfolios (Scenario 3/Question 2), and college jobs (Scenario 4/Ques- tion 4). [8] The global financial crisis showed us that there is a need for appropriate identification and evaluation of implicit liquidity trading risks in investment portfolios. [9] The purpose of this research was to study, analyze and experiment the diversification effect of investment portfolios with South American variable income assets. [10] Evidence suggests that, in some cases, such investors tend to maximize the social performance over the financial performance; in some others, the effect is reverted, but literature currently lacks studies aligning the analysis of the investment decisions with the investment portfolios. [11] The application of sustainable and impact investing approaches to the management of investment portfolios has risen dramatically over the past three years due to a convergence of factors, including increased cross-generational interest and the enhanced ability of asset managers to utilize these approaches when seeking strong risk-adjusted returns. [12] The purpose of the research is to carry out a comprehensive analysis of the investment mechanism of the Russian banking sector and its organisation, to characterise the investment policy and risks connected with investment activities, to determine the criteria for financial instruments included in the structure of investment portfolios of Russian credit institutions. [13] The paper tests the hypothesis that the formation of investment portfolios of two assets based on predicted returns obtained using fractal models with conditional heteroscedasticity (ARFIMA-GARCH) allows to obtain portfolios with better characteristics than those obtained using the ARFIMA model. [14] First, it demonstrates that the composition of investment portfolios can distort the incentives of index funds with respect to climate risk. [15] The findings in this paper provide meaningful information on investment portfolios and policies for constructing a unified national carbon market. [16] The objective of this paper is to present a framework for ESG integration and analyze the consequences of considering environmental, social and governance (ESG) factors in the optimization of investment portfolios. [17] Compared with typical traditional exchange rate prediction algorithms, the deep learning model has more accurate results and the NSGA-II-based model further optimizes the selection of investment portfolios and finally gives investors a more reasonable investment portfolio plan. [18] Changing global financial environment and emergence of new economic powers in recent decades, diversification of investment portfolios at country and sector levels assumed additional significance. [19] Moreover, investors and creditors shall take into consideration the respective life cycle stage of the firm to minimize the risk exposure of their investment portfolios. [20] As predicted by our previous model, we found that, under conditions of increased trust necessity, participants actively reconstructed their trust-investment portfolios by discounting their trust in their previously trusted counterparts and attempting to develop trust with the counterparts that they previously distrusted. [21] Research background: Since the publication of Markowitz’ Portfolio Selection Theory, researchers and practitioners have been searching for the optimal structure of investment portfolios. [22] Instead of just focusing on which fund performances are best, investors pay great attention to who is managing and delivering superior returns in their investment portfolios. [23] These findings will benefit investors by guiding their investment decision making in constructing their investment portfolios and also in deciding ways to achieve diversification. [24] The work's practical significance is based on the analysis of mathematical models used in the formation of investment portfolios. [25] Direct and indirect exposures to supply chains caused sizeable losses to credit, trading and investment portfolios of banks due to Covid-19. [26] To bridge these gaps, this study develops a Non-linear Multi-objective Binary Program (NMBP) to optimize the investment portfolios under three competing objectives. [27] Five decision-making modes were proposed based on the investment portfolios. [28] The formation of its investment portfolio; the formation of a stabilization portfolio in the following ratios in the long-run: in bonds 45%, in stocks 30% and in treasury bills 25%; spending stabilization and investment portfolios only in the number of annual rents and investment incomes obtained, respectively. [29] Investment portfolios can be efficiently diversified using factor-based allocation since we find robust economic performance over various market states. [30] The current literature analyzes single factors affecting the relativity of stocks, but in this paper, we analyze the correlations between different factors to provide multiple perspectives of and about investment portfolios. [31] The optimization of investment portfolios is the most important topic in financial decision making, and many relevant models can be found in the literature. [32] To this end, whenever rebalancing factor-investment portfolios based on trading rules, the number of shares of stocks to be bought and sold is computed and the price impact costs of the transactions are taken into account. [33] The creation of investment portfolios through the process of diversification, makes effective the optimization of risk and performance. [34] However, the increasing popularity and the unique characteristics of cryptocurrencies will assist their future presence in investment portfolios. [35] Real asset investment, which is assumed to be worthier than traditional assets in regards to exposure to income volatility, has become central to investment portfolios in financial institutions. [36] The analysis of the structure of investment portfolios is a major application since their eventual correlation and overlap impact the actual risk by individual investors. [37] Through the mediating role of cognitive ability, memory problems negatively affect the probability of holding risky assets, the amount of risky assets in the investment portfolios and financial wealth. [38] We develop an analytical framework to systematically review the literature on stranded asset risk across the investment chain: for physical assets, securities, investment portfolios, the creditworthiness of financial institutions, and the stability of the financial system. [39] In addition, there is a desire to have investment portfolios, which are morally purified. [40] Active fund managers, who dynamically manage their exposures to systematic and stock-specific risks (in their attempt to outperform their benchmark index), target firms that manage earnings less to form part of their investment portfolios. [41] ,The findings of the presented research are important for investors considering agribusiness as a part of their investment portfolios and for policymakers to enhance the economic efficiency of the food industry through regulations and public support, and particularly, from the firm management viewpoint, e. [42] We conclude that divestment is not only an ethical investment approach but also that it is able to address financial risks caused by climate change and, at the same time, is able to reduce the carbon exposure of investment portfolios. [43] Provided the extent of the required predictive accuracy, the results may bring additional insights for diversifying and hedging various types of investment portfolios as well as for maximizing returns by portfolio managers. [44] This paper presents two hedging strategies with financial options to mitigate the market risk associated with the future purchase of investment portfolios that exhibit the same behavior as Colombia's COLCAP stock index. [45] In the article the assumptions were formulated and received confirmation that at present the growth of investment life insurance is largely due to the active work of banks, rather than the voluntary desire of investors to diversify their investment portfolios. [46] In other words, the world stock markets under study are not only considered as the status displays of the national economies of the corresponding countries but also as the potential instruments for investment portfolios. [47] stock returns in the sample period 1965 to 2015, aggregate portfolios are constructed by combining the CRSP market index with zero-investment portfolios that reflect different levels of market volatility risk. [48] The inverse relationship between market risk and tax aggressiveness may represent a greater attractiveness for these stocks in investment portfolios that seek less exposure. [49] 61% of credit and investment portfolios of the banking system the of Ukraine, as of 1 October 2016. [50]有证据表明，在某些情况下，此类投资者倾向于最大化社会绩效而不是财务绩效；在另一些情况下，这种影响会逆转，但目前文献缺乏将投资决策分析与投资组合相结合的研究。 [1] 因此，在当今动荡的市场环境中，如何建立有效的预警模型，为管理者提供避免财务困境恶化的具体途径，并为投资者调整投资组合提供有用的方向，成为一个重要问题。 [2] 我们强调，医疗保健和能源板块的股票作为回报和波动的净接受者；因此，在将它们纳入投资组合时需要一定的谨慎。 [3] 我们的结果可用于解释股市崩盘或投资组合重组所产生的数据。 [4] 论文还解释了捐赠基金投资行为的变化，包括捐赠基金的规模如何影响基金投资组合的资产结构和回报。 [5] 定义了投资组合国际多元化在绩效风险比方面的主要优势。 [6] 这项研究为研究如何对投资者的决策进行治理、合理化这些决策及其有效性打开了一个新维度的大门，这最终有助于实现其投资组合的高回报。 [7] 我们在四个决策场景中的三个决策场景中发现了对现状偏差的强有力的实证支持，包括预算分配（原始文章中的场景 1/问题 1）、投资组合（场景 3/问题 2）和大学工作（场景 4） /问题 4)。 [8] 全球金融危机向我们表明，有必要对投资组合中的隐性流动性交易风险进行适当的识别和评估。 [9] 本研究的目的是研究、分析和试验南美可变收益资产投资组合的多元化效应。 [10] 有证据表明，在某些情况下，此类投资者倾向于最大化社会绩效而不是财务绩效；在另一些情况下，这种影响会逆转，但目前文献缺乏将投资决策分析与投资组合相结合的研究。 [11] 在过去三年中，由于跨代利益的增加以及资产管理公司在寻求强大风险时利用这些方法的能力增强等因素的融合，在过去三年中，可持续和影响力投资方法在投资组合管理中的应用急剧增加-调整后的回报。 [12] 该研究的目的是对俄罗斯银行业及其组织的投资机制进行全面分析，以描述与投资活动相关的投资政策和风险，确定投资结构中包含的金融工具的标准俄罗斯信贷机构的投资组合。 [13] 本文检验了以下假设：基于使用具有条件异方差的分形模型 (ARFIMA-GARCH) 获得的预测收益形成两种资产的投资组合允许获得比使用 ARFIMA 模型获得的投资组合具有更好特征的投资组合。 [14] 首先，它表明投资组合的构成会扭曲指数基金在气候风险方面的激励。 [15] 本文的研究结果为建设统一的全国碳市场的投资组合和政策提供了有意义的信息。 [16] 本文的目的是提出一个 ESG 整合框架，并分析在优化投资组合时考虑环境、社会和治理 (ESG) 因素的后果。 [17] 与典型的传统汇率预测算法相比，深度学习模型的结果更加准确，基于NSGA-II的模型进一步优化了投资组合的选择，最终为投资者提供了更合理的投资组合方案。 [18] 近几十年来，不断变化的全球金融环境和新经济大国的出现，使国家和部门层面的投资组合多样化具有了额外的意义。 [19] 此外，投资者和债权人应考虑公司各自的生命周期阶段，以尽量减少其投资组合的风险敞口。 [20] 正如我们之前的模型所预测的那样，我们发现，在信任必要性增加的情况下，参与者通过降低他们对先前信任的对手的信任并试图与他们先前不信任的对手建立信任来积极重建他们的信任投资组合。 [21] 研究背景：自 Markowitz 的投资组合选择理论发表以来，研究人员和从业者一直在寻找投资组合的最优结构。 [22] 投资者不仅关注哪些基金表现最好，还非常关注谁在他们的投资组合中管理和提供卓越的回报。 [23] 这些发现将通过指导他们在构建投资组合和决定实现多样化的方式方面的投资决策而使投资者受益。 [24] 这项工作的实际意义是基于对用于形成投资组合的数学模型的分析。 [25] 由于 Covid-19，供应链的直接和间接风险对银行的信贷、交易和投资组合造成了可观的损失。 [26] 为了弥合这些差距，本研究开发了一个非线性多目标二元规划 (NMBP)，以优化三个相互竞争的目标下的投资组合。 [27] 基于投资组合，提出了五种决策模式。 [28] 形成其投资组合；从长远来看，按以下比率形成稳定投资组合：债券 45%，股票 30%，国库券 25%；支出稳定和投资组合仅在年租金和投资收益的数量上分别获得。 [29] 由于我们发现各种市场状态下的经济表现强劲，因此可以使用基于因子的配置有效地使投资组合多样化。 [30] 目前的文献分析了影响股票相关性的单一因素，但在本文中，我们分析了不同因素之间的相关性，以提供关于投资组合的多种视角。 [31] 投资组合的优化是财务决策中最重要的课题，在文献中可以找到很多相关的模型。 [32] 为此，每当根据交易规则重新平衡因子投资组合时，都会计算要买卖的股票数量，并考虑交易的价格影响成本。 [33] 通过多元化过程创建投资组合，有效优化风险和绩效。 [34] 然而，加密货币的日益普及和独特的特性将有助于它们未来在投资组合中的存在。 [35] 实物资产投资被认为在收入波动风险方面比传统资产更有价值，已成为金融机构投资组合的核心。 [36] 投资组合结构的分析是一个主要应用，因为它们最终的相关性和重叠会影响个人投资者的实际风险。 [37] 通过认知能力的中介作用，记忆问题对持有风险资产的概率、投资组合中风险资产的数量和金融财富产生负面影响。 [38] 我们开发了一个分析框架，以系统地回顾有关整个投资链中搁浅资产风险的文献：实物资产、证券、投资组合、金融机构的信誉和金融体系的稳定性。 [39] 此外，人们希望拥有在道德上得到净化的投资组合。 [40] 主动型基金经理动态地管理其对系统性和特定股票风险的敞口（以试图超越其基准指数），目标是管理收益较少的公司，以构成其投资组合的一部分。 [41] , 所提出的研究结果对于将农业综合企业视为其投资组合的一部分的投资者以及政策制定者通过法规和公共支持提高食品行业的经济效率非常重要，特别是从企业管理的角度来看，例如。 [42] 我们得出结论，撤资不仅是一种合乎道德的投资方式，而且能够应对气候变化造成的金融风险，同时能够减少投资组合的碳暴露。 [43] 如果达到所需的预测准确性，结果可能会为多样化和对冲各种类型的投资组合以及最大化投资组合经理的回报带来额外的见解。 [44] 本文介绍了两种带有金融期权的对冲策略，以减轻与未来购买与哥伦比亚 COLCAP 股票指数表现相同的投资组合相关的市场风险。 [45] 文章中提出的假设得到证实，目前投资寿险的增长主要是由于银行的积极工作，而不是投资者自愿分散投资组合的愿望。 [46] 换言之，所研究的世界股票市场不仅被视为相应国家国民经济状况的展示，而且被视为投资组合的潜在工具。 [47] 在 1965 年至 2015 年样本期间的股票收益，通过将 CRSP 市场指数与反映不同市场波动风险水平的零投资组合相结合，构建了总投资组合。 [48] 市场风险与税收激进性之间的反比关系可能代表这些股票在寻求较少敞口的投资组合中更具吸引力。 [49] 截至 2016 年 10 月 1 日，乌克兰银行系统 61% 的信贷和投资组合。 [50]
Constructing Investment Portfolios 构建投资组合
Practical implicationsThe authors recommend investors to select professional's investment portfolio tools in constructing investment portfolios and avoid excessive errors, which occur due to heuristic. [1] Practical implications Investors and fund managers could benefit from investing in Islamicly permissible equity funds when constructing investment portfolios in regard to asset allocation and policy responses to financial crises. [2] Understanding the sources of the profits also helps portfolio managers better employ these factors in constructing investment portfolios. [3]实践启示作者建议投资者在构建投资组合时选择专业的投资组合工具，避免因启发式而出现的过多错误。 [1] 实际影响 在构建有关资产配置和金融危机应对政策的投资组合时，投资者和基金经理可以从投资于伊斯兰允许的股票基金中受益。 [2] 了解利润的来源也有助于投资组合经理更好地利用这些因素来构建投资组合。 [3]
Optimal Investment Portfolios 最佳投资组合
In this article, optimal investment portfolios with minimal risk and maximum efficiency were calculated. [1] The optimal investment portfolios are taking into account the three most important compliance options based on the use of low Sulphur fuel, the use of LNG fuel and the use of HFO with a scrubber. [2] So, risk control should cover the risk and work out of the way of optimal investment portfolios. [3]本文计算了风险最小、效率最高的最优投资组合。 [1] 最佳投资组合考虑了基于使用低硫燃料、使用 LNG 燃料和使用带有洗涤器的 HFO 的三个最重要的合规选项。 [2] nan [3]
Managing Investment Portfolios 管理投资组合
In the authors’ opinion, carbon betas are market-based measures that are complementary to carbon intensities or fundamental-based measures when managing investment portfolios; carbon betas may be viewed as an extension or forward-looking measure of the current carbon footprint. [1] In our opinion, carbon betas are market-based measures that are complementary to carbon intensities or fundamental-based measures when managing investment portfolios, because carbon betas may be viewed as an extension or forward-looking measure of the current carbon footprint. [2] Managing investment portfolios is an old and well know problem in financial mathematics and engineering as well as in econometrics. [3]作者认为，碳贝塔系数是基于市场的措施，在管理投资组合时与碳强度或基于基本面的措施相辅相成；碳贝塔系数可被视为当前碳足迹的延伸或前瞻性衡量。 [1] 我们认为，在管理投资组合时，碳贝塔值是对碳强度或基于基本面的措施的补充，是基于市场的措施，因为碳贝塔值可被视为当前碳足迹的延伸或前瞻性措施。 [2] nan [3]
Construct Investment Portfolios
In light of the recent COVID-19 pandemic, and the dynamic economic situation, our work provides valuable knowledge for investors, who wish to construct investment portfolios based on Bitcoin, and also provide insights for regulators about how to regulate the cryptocurrency speculation in an effective manner. [1] In particular, we demonstrate how Random Matrix Theory and Network models can be combined to construct investment portfolios that provide lower risks with respect to standard Markovitz portfolios. [2]鉴于最近的 COVID-19 大流行和动态的经济形势，我们的工作为希望构建基于比特币的投资组合的投资者提供了宝贵的知识，也为监管机构提供了有关如何有效监管加密货币投机的见解。方式。 [1] 特别是，我们展示了如何将随机矩阵理论和网络模型结合起来，构建相对于标准 Markovitz 投资组合提供更低风险的投资组合。 [2]
Global Investment Portfolios
1639), managed diverse, global investment portfolios in the period before the Financial Revolution. [1] Each cryptocurrency appears to follow its own trend in the global financial market and is independent of the exchange rates or the global stock markets, thus making them suitable for inclusion in global investment portfolios. [2]1639），在金融革命前的时期管理着多样化的全球投资组合。 [1] 每种加密货币似乎都遵循其在全球金融市场中的趋势，并且独立于汇率或全球股票市场，因此它们适合纳入全球投资组合。 [2]
Retirement Investment Portfolios
In two experimental studies (Study 1—Hong Kong sample and Study 2—United Kingdom sample), we show that personal risk attitudes were a strong predictor of the profile of retirement investment portfolios. [1] Our findings will help potential subscribers to understand the scheme and decide whether this scheme should be included in their retirement investment portfolios when it is launched in 2018. [2]在两项实验研究（研究 1-香港样本和研究 2-英国样本）中，我们表明个人风险态度是退休投资组合状况的强有力预测因素。 [1] 我们的调查结果将帮助潜在的订阅者了解该计划，并决定在 2018 年推出该计划时是否应将其纳入其退休投资组合。 [2]
Build Investment Portfolios
Here, we suggest wetland-based PES schemes use common asset trusts (CATs) to build investment portfolios of wetlands across landscapes that sustain and enhance overall provision of multiple ecosystem services. [1] Practical implications - This paper’s research on the risk pricing factors of investor attention can help investors to rationally build investment portfolios, avoid risks and form a sound investment concept, which will further reveal the information recognition mechanism of the capital market and standardize the information disclosure behavior of listed companies. [2]在这里，我们建议基于湿地的 PES 计划使用共同资产信托 (CAT) 来建立跨景观的湿地投资组合，以维持和增强多种生态系统服务的整体提供。 [1] nan [2]
Managed Investment Portfolios
The authors define the measure of rebalance timing luck as the standard deviation in returns between identically managed investment portfolios that are rebalanced on different dates (sub-indexes). [1] The authors define the measure of rebalance timing luck as the standard deviation in returns between identically managed investment portfolios that are rebalanced on different dates (sub-indexes). [2]作者将重新平衡时机运气的衡量标准定义为在不同日期（子指数）重新平衡的相同管理投资组合之间的回报标准差。 [1] 作者将重新平衡时机运气的衡量标准定义为在不同日期（子指数）重新平衡的相同管理投资组合之间的回报标准差。 [2]
Efficient Investment Portfolios 高效的投资组合
In times of calm, the art market is used by investors to diversify risk and build more efficient investment portfolios according to the Markovitz’s theory. [1] Compared with conventional glide paths and investment strategies, our DA-enhanced glide paths provide the investor with higher welfare gains, more efficient investment portfolios and more responsive retirement income patterns and bequest levels to different fee structures and personal preferences. [2]根据马尔科维茨的理论，在平静时期，投资者利用艺术品市场分散风险并建立更有效的投资组合。 [1] 与传统的滑行路径和投资策略相比，我们的 DA 增强滑行路径为投资者提供了更高的福利收益、更有效的投资组合以及对不同费用结构和个人偏好的更敏感的退休收入模式和遗产水平。 [2]
Term Investment Portfolios 定期投资组合
This paper proposes modified mean-variance risk measures for long-term investment portfolios. [1] The results indicated that investors who have strong extraversion, agreeableness and openness to experience personality traits will be more likely to invest in short-term investment portfolios. [2]本文提出了针对长期投资组合的修正均值方差风险度量。 [1] 结果表明，具有较强外向性、随和性和开放性体验人格特质的投资者将更有可能投资于短期投资组合。 [2]