1,720,962 research outputs found
Exchange traded funds (etf): evaluation and portfolio building from etf’s.
No full textAs the global financial crisis is started, investors are trying to look for new investment methods. During the meltdown of most shares, share investments are becoming unattractive, it decreases the liquidity of the exchange itself. As bears are dominating in share markets, more and more investors choose various alternatives of investments. One of them is Exchange Traded Funds, therefore a closer acquaintance with the management, features and advantages of these funds is needed. In order to choose the best combination of ETF funds while forming an investment portfolio, analysis of ETF fund results and created risk is required, as well as determination of how these funds match in one portfolio and what result can be obtained. The object of research – Exchange Traded Funds, as means of risk decreasing. The purpose of this work – to perform evaluation of Exchange Traded Funds and different risks ETF portfolios that were formed according to the created model. To fulfill the purpose the following most important tasks were set: to discuss the features and types of ETF funds and to analyze advantages and disadvantages of the funds arising because of distinctive features of ETF, to distinguish the differences of ETF funds from traditional investment funds, to analyze possible ETF funds portfolio management methods, to analyze the dependence of risks and profitability as well as measuring of ETF funds and portfolio formed of them, to distinguish forming and management strategies of ETF funds investment portfolio and to create a ETF funds forming model according to the distinguished strategies, to analyze the results of ETF funds and to form investment portfolios of different risks according to the created model and to perform the evaluation of them. After analysis of profitability and risks of ETF funds it was determined that according to the results of the analyzed period the best one is the ETF of Latin America, as well as ETF depending on the price of gold. As the financial crisis is deepened, the main share indexes in many geographical regions dropped to great extent, but in the end of March of the year 2009 a period of sudden and constant rising started. This rising was influenced by the fact that economics of countries started to recover because of the economic stimulus package by governments, and investors directed the amount of money increased because of the economic stimulus to the financial instruments of higher risks. After analysis of the investment portfolios it was discovered that only the results of portfolio of aggressive risks were better than those of the comparative index. While analyzing the portfolios it was noticed that general risk of the portfolio depends not only on the instruments in the portfolio, it is also influenced by the investment period of the portfolio, because during the financial crisis the risks and profitability of ETF obligations was distorted to great extent. The market of obligations was highly instable because of the liquidity of obligations in market and share market that was later decreasing, therefore the risks of ETF obligations, even such as substantially non risky 10 – 20 years obligations of USA government, increased to great extent. It was noticed that it is difficult to choose the comparative index when forming the portfolio according to strategies of active distribution, block building or combined strategy of active distribution and block building, or by including the ETF funds of color metals and raw materials into the portfolio and later carrying out evaluation of it
Centrinių bankų užsienio rezervų valdymo modelis.
No full textForeign exchange reserves management results depend not only on proper reserves management strategy, but also are related to changes in financial markets. Low interest rate environment in finance markets determine CB duty to look for new investment instruments and invest into higher risk level investment instruments. Hence reserves management concentrates on higher yield rather than liquidity. Investing in securities with higher return results in higher CB investment portfolio risk. In consequence, new risk evaluation methods to assess and manage portfolio risk reliably are needed. Having considered the discussed problem issues of the topic the problem of the research has been formulated– how to manage CB investment portfolio, which consists of different risk level investment instruments? Two approaches to solving the problem of the research are as following: 1) Asset allocation between different risk level financial instruments – the created CB foreign exchange reserves investment portfolio formation model, which enables foreign exchange reserves distribution among different risk level investment instruments; 2) investment portfolio risk management – by creating risk management methodology, which allows to evaluate and manage debt securities portfolio risk by deviding it in to interest rate risk and credit risk. Foreign exchange reserves management model application for the investment portfolio formation has confirmed that, the proposed foreign exchange reserves model allows to invest foreign exchange reserves more effectively and assess investment portfolio risk reliably
Structured literature review on business process performance analysis and evaluation
No full textInternational audienceKnowledge of business process analysis instruments and methods enhance the possibility to quantify process management decisions and to achieve organizations' goals. While the amount of research on business process analysis and evaluation increases, there is a need to outline the intellectual structure of scientific research as embodied in business process scientific literature in order to define the streams of research. The purpose of this paper is to present actionable knowledge of business process performance analysis and evaluation, based on the framework, integrating business process research domains and levels of analysis. In order to establish a framework, integrating the domains of business process analysis, the research questions were formulated and the analysis of the scientific literature was carried out applying the method of structured literature review. Literature review was based on a research papers that were available through the EBSCO host, Academic search complete databases. References were searched using the keywords that are formed as combinations of words: business process, analysis, performance, evaluation. Research contributions, addressing the business process analysis topic, were selected by the keywords within the papers' title, abstract and in the keywords specified in the article. After the initial evaluation of 677 papers, 62 articles were selected for in-depth analysis. This paper contributes to the business process management research by proposing the framework to integrate various business process analysis research streams and highlighting exploratory potential areas for future inquiry
NII forecasting model for local Baltic banks IRRBB management /
No full textThis paper contributes to the existent literature and the current discussions on regulatory changes towards bank exposure to interest rate risk in the banking book (IRRBB) aiming to provide the model on the computation of earning based gap analysis under unconditional cash flow for the European Bank Authority’s (EBA’s) category 4 banks (i. e. small non-complex domestic financial institutions). The problem, discussed in this paper, arises because the Final Standards issued by the Basel Committee on Banking Supervision do not determine the level of sophistication of the IRRBB measurement techniques. There are different explanations of consultants, some surveys, and recommendations, but no suggestions on the particular modeling towards regulation in IRRBB have been found. Another issue addressed here is the uneven capacity of creating risk assessment models of large international and small domestic financial insti- tutions due to the difference in human resources. We first discuss recent changes of regulation on interest rates in the banking book and the background of these changes. We then develop a methodology of the model for assessment of earning-based gap analysis under unconditional cash flows for the 4th category of banks (small, local banks). In addi- tion, the model with one of the Baltic domestic commercial bank’s simulated data is tested
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
- …
