Examinando por Materia "PORTFOLIO THEORY"
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Publicación Acceso abierto Estructuración de portafolios de acciones en el mercado de valores de España(2014-05-13) Mesa-López, M. (Miriam); Colorado-González, J. A. (José Adolfo)This paper uses the portfolio’s modern theory developed by Harry Markowitz in 1952 to find an optimal portfolio that beats the benchmark in the Spanish market. The portfolio selected includes the application of the CAPM model for capital asset pricing. The result is a market’s portfolio with a better yield than that of benchmark and minimum risk levels in the international context.Publicación Acceso abierto Estructuración de portafolios de acciones en el mercado de valores de Hong Kong(2014-05-13) Ramírez-Córdoba, G. L. (Gloria Lucia); Fernández-Echeverri, C. P. (Claudia Patricia)This paper presents the results of an exploratory research conducted with the objective of structuring a portfolio of shares in the Hong Kong stock market. For the construction of the optimal portfolio was applied Modern Portfolio Theory, first to 20 stock indexes worldwide and then to 27 shares selected from Hang Seng Index (HSI) of the Hong Kong stock market, in both cases with a database built with the value of the indexes and stock prices in the period January 2002 - August 2007. With the analysis of the indexes, it was determined that the index of Hong Kong is not part of the portfolio market, but this is not enough reason for not investing in that market, given that in the analysis of the environment was found that Hong Kong is a region of international significance, with a growing economy and leading companies globally. The diversification exercise conducted with the selected actions from index HSI allowed to structure portfolios that maximize return for different risk levels and determine an efficient frontier that, in addition to being well above the HSI, is dominant compared to the efficient frontier shaped with the stock indices of the countries surveyed.