Download or read book Th orie Comportementale Du Portefeuille written by Olga Bourachnikova and published by Editions Universitaires Européennes. This book was released on 2018-02-28 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cette thèse est consacrée à la théorie comportementale du portefeuille. Ce modèle de gestion de portefeuille est considéré comme une véritable alternative à l'approche traditionnelle telle que le modèle moyenne - variance de Markowitz ou à la théorie de l'utilité espérée. Dans cette thèse, nous étudions l'équilibre du marché dans le cadre de la théorie comportementale du portefeuille. Nous constatons que celui-ci coïncide, dans la plupart des situations, avec les résultats classiques issus de la théorie de l'utilité espérée. Par le biais d'une étude empirique, nous testons la théorie comportementale du portefeuille sur le marché réel. Nous montrons que le choix d'un investisseur se comportant comme le prédit cette théorie est identique à celui d'un agent se comportant conformément au modèle de Markowitz en l'absence de déformation des probabilités.

Download or read book Finance comportementale versus th orie de l efficience des march s written by Caroline Duneufgermain and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Notre thèse propose une tentative de couplage entre le cadre théorique offert par la Finance Comportementale et un type particulier d'investisseurs institutionnels, les fonds de pension.Grâce à une modélisation économétrique de la Théorie Comportementale du Portefeuille, elle donne un éclairage nouveau sur la possible utilisation de ce cadre théorique alternatif dans la gestion des fonds de pension, et plus particulièrement sur les processus de choix dans la construction de leur portefeuille d'actifs. Les résultats de notre étude empirique ont ainsi montré que la double contrainte imposée aux portefeuilles d'investissement dans le processus d optimisation a un véritable impact sur l'émergence du portefeuille optimal

Download or read book Th orie moderne du portefeuille written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-17 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Qu'est-ce que la théorie moderne du portefeuille La théorie moderne du portefeuille (MPT), ou analyse moyenne-variance, est un cadre mathématique permettant d'assembler un portefeuille d'actifs tel que le rendement attendu est maximisé pour un niveau de risque donné. Il s’agit d’une formalisation et d’une extension de la diversification dans l’investissement, l’idée selon laquelle posséder différents types d’actifs financiers est moins risqué que d’en posséder un seul. Son idée clé est que le risque et le rendement d'un actif ne doivent pas être évalués en eux-mêmes, mais selon la manière dont il contribue au risque et au rendement globaux d'un portefeuille. La variance du rendement est utilisée comme mesure du risque, car elle est gérable lorsque les actifs sont regroupés en portefeuilles. Souvent, la variance et la covariance historiques des rendements sont utilisées comme approximation des versions prospectives de ces quantités, mais d'autres méthodes plus sophistiquées sont disponibles. Comment vous en bénéficierez (I) Informations et validations sur les sujets suivants : Chapitre 1 : Théorie moderne du portefeuille Chapitre 2 : Écart type Chapitre 3 : Variance Chapitre 4 : Distribution normale multivariée Chapitre 5 : Corrélation Chapitre 6 : Modèle de tarification des immobilisations Chapitre 7 : Matrice de covariance Chapitre 8 : Coefficient de corrélation de Pearson Chapitre 9 : Propagation de l'incertitude Chapitre 10 : Bêta (finance) Chapitre 11 : Erreur de suivi Chapitre 12 : Diversification (finance) Chapitre 13 : Le problème de portefeuille de Merton Chapitre 14 : Modèle à indice unique Chapitre 15 : Théorie post-moderne du portefeuille Chapitre 16 : Mesure du risque Chapitre 17 : Modèle Treynor-Black Chapitre 18 : Investissement basé sur les objectifs Chapitre 19 : Modèle de décision en deux moments Chapitre 20 : Théorème de séparation des fonds communs de placement Chapitre 21 : Corrélation financière (II) Répondre aux principales questions du public sur la théorie moderne du portefeuille. (III) Exemples concrets d'utilisation de la théorie moderne du portefeuille dans de nombreux domaines. Qui ce livre s'adresse aux professionnels, aux étudiants de premier cycle et des cycles supérieurs, aux passionnés, aux amateurs et à ceux qui souhaitent aller au-delà des connaissances ou des informations de base pour tout type de théorie moderne du portefeuille.

Download or read book La Th orie moderne du portefeuille written by Florin Aftalion and published by FeniXX. This book was released on 1998-01-01T00:00:00+01:00 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: La théorie moderne du portefeuille s'est développée à la suite des travaux de Markowitz et Sharpe. Elle repose sur l'analyse du compromis optimal rentabilité espérée – risque. Elle inspire aujourd'hui les méthodes de gestion quantitative des portefeuilles. Cet ouvrage étudie donc l'ensemble des concepts, modèles et outils utilisés en théorie de l'évaluation des actifs financiers, et la gestion des portefeuilles d'actifs financiers. Cet ouvrage est en phase avec une actualité liée à la crise financière internationale, à l'ouverture des frontières financières, à la globalisation des marchés et à la concurrence européenne.

Download or read book Revue d conomie politique written by and published by . This book was released on 2008 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vols. 37- include one issue each entitled La France économique.

Download or read book Vid o surveillance et d tection automatique des comportements anormaux written by Jean-Jacques Lavenue and published by Presses Univ. Septentrion. This book was released on 2011-06-10 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: La vidéosurveillance fait désormais partie des outils utilisés dans les politiques sécuritaires. Les récentes évolutions techniques rendent son usage de plus en plus intrusif dans la vie privée mais aussi dans l'espace public. Cet ouvrage explore une dimension encore inédite de la vidéosurveillance. Elle réside dans le caractère automatique de la détection des « comportements anormaux » dans l'espace public. L'anormalité est un enjeu fondamental dans la définition de la citoyenneté, en établissant une frontière entre ce qui est jugé acceptable et ce qui doit être réprimé. Or, des projets de recherches appliqués récents tentent de coupler l'usage de la vidéosurveillance avec une évaluation automatique de l'anormalité. Désormais, les algorithmes contribuent à définir ces comportements anormaux et donc, dessinent les figures de l’anormal. L’automaticité modifie considérablement les capacités d’appréciation de la normalité, jusqu’ici de la compétence du juge et des pouvoirs publics. La convergence des techniques (vidéo, base de données informatiques...) contribue à modifier profondément les frontières de l’espace public et, par conséquent, de l’espace démocratique. L’ouvrage présente les débats interdisciplinaires qui ont eu lieu à l’occasion d’une application technique actuellement en cours. S’interroger sur ce qu’est un comportement anormal permet de rappeler les modalités d’élaboration de la normalité dans une démocratie.

Download or read book Revue suisse d conomie politique et de statistique written by and published by . This book was released on 2002 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recent Developments in Evolutionary Economics written by Ulrich Witt and published by Edward Elgar Publishing. This book was released on 2008 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary economics is a vital, expanding field of research focusing on the incessant transformation of the economy and its driving forces. Highlighting a variety of pressing economic problems, explaining causes and arriving at innovative remedies, this book considers developments in innovations, knowledge transfer, and industrial dynamics.

Download or read book Inefficient Markets written by Andrei Shleifer and published by OUP Oxford. This book was released on 2000-03-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can account for such anomalies as the superior performance of value stocks, the closed end fund puzzle, the high returns on stocks included in market indices, the persistence of stock price bubbles, and even the collapse of several well-known hedge funds in 1998. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets.

Download or read book Working Together written by Amy Poteete and published by Princeton University Press. This book was released on 2010-04-12 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in the social sciences have emerged through a variety of research methods: field-based research, laboratory and field experiments, and agent-based models. However, which research method or approach is best suited to a particular inquiry is frequently debated and discussed. Working Together examines how different methods have promoted various theoretical developments related to collective action and the commons, and demonstrates the importance of cross-fertilization involving multimethod research across traditional boundaries. The authors look at why cross-fertilization is difficult to achieve, and they show ways to overcome these challenges through collaboration. The authors provide numerous examples of collaborative, multimethod research related to collective action and the commons. They examine the pros and cons of case studies, meta-analyses, large-N field research, experiments and modeling, and empirically grounded agent-based models, and they consider how these methods contribute to research on collective action for the management of natural resources. Using their findings, the authors outline a revised theory of collective action that includes three elements: individual decision making, microsituational conditions, and features of the broader social-ecological context. Acknowledging the academic incentives that influence and constrain how research is conducted, Working Together reworks the theory of collective action and offers practical solutions for researchers and students across a spectrum of disciplines.

Download or read book Neoclassical Finance written by Stephen A. Ross and published by Princeton University Press. This book was released on 2009-04-11 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail. By stark contrast, the currently popular stance offered by behavioral finance, fueled by a number of apparent anomalies in the financial markets, regards market prices as subject to the psychological whims of investors. But without any appeal to psychology, Ross shows that neoclassical theory provides a simple and rich explanation that resolves many of the anomalies on which behavioral finance has been fixated. Based on the inaugural Princeton Lectures in Finance, sponsored by the Bendheim Center for Finance of Princeton University, this elegant book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners.

Download or read book The Qualimetrics Approach written by Henri Savall and published by IAP. This book was released on 2011-06-01 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impetus for this work emerged from Savall’s belief that there is a doubleloop interaction between social and economic factors in organizations, between behaviors and structures, and between the quality of life in organizations and their economic performance. When managers underestimate this dynamic interaction, the resulting tension ultimately manifests in lowered performance and increased costs, what he refers to as the “hidden costs” of organizational life. Only by delving into the depths of these organizational dynamics can we hope to fully understand – and create the basis for improving – organizational performance. The Qualimetrics Approach presents a different and challenging way of thinking about analyzing organizations, one that draws together quantitative information, financial analysis and qualitative insights into organizational dynamics. As Savall and Zardet argue, to gain a true understanding of what is happening in organizations, intervener-researchers must focus on all three perspectives, as ignoring any one of them will lead to incomplete understandings. Their approach underscores the importance of using qualitative data to validate quantitative depictions (“the numbers”) of organizational performance in understanding the construction of financial statements. The strength of Savall and Zardet’s approach is that it pushes us to go deeper, to fully understand the narratives underlying the numbers and the social construction of our financial assessments.

Download or read book Essays in Positive Economics written by Milton Friedman and published by University of Chicago Press. This book was released on 1953 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is concerned primarily with certain methodological problems that arise in constructing the "distinct positive science" that John Neville Keynes called for, in particular, the problem how to decide whether a suggested hypothesis or theory should be tentatively accepted as part of the "body of systematized knowledge concerning what is."

Download or read book Save More Tomorrow written by Shlomo Benartzi and published by Penguin. This book was released on 2012-04-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the world’s top experts in behavioral finance offers innovative strategies for improving 401(k) plans. Half of Americans do not have access to a retirement saving plan at their workplace. Of those who do about a third fail to join. And those who do join tend to save too little and often make unwise investment decisions. In short, the 401(k) world is in crisis, and workers need help. Save More Tomorrow provides that help by focusing on the behavioral challenges that led to this crisis inertia, limited self-control, loss aversion, and myopia—and transforms them into behavioral solutions. These solutions, or tools, are based on cutting edge behavioral finance research and they can dramatically improve outcomes by, for example, helping employees: -Save, even if they aren’t ready to do so now, by using future enrollment. -Save more by showing them images of their future selves. -Save smarter by reshuffling the order of funds on the investment menu. Save More Tomorrow is the first comprehensive application of behavioral finance to improve retirement outcomes. It also makes it easy for plan sponsors and their advisers to apply these behavioral tools using its innovative Behavioral Audit process.

Download or read book The Handbook of Credit Risk Management written by Sylvain Bouteille and published by John Wiley & Sons. This book was released on 2012-12-17 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to credit risk management The Handbook of Credit Risk Management presents a comprehensive overview of the practice of credit risk management for a large institution. It is a guide for professionals and students wanting a deeper understanding of how to manage credit exposures. The Handbook provides a detailed roadmap for managing beyond the financial analysis of individual transactions and counterparties. Written in a straightforward and accessible style, the authors outline how to manage a portfolio of credit exposures--from origination and assessment of credit fundamentals to hedging and pricing. The Handbook is relevant for corporations, pension funds, endowments, asset managers, banks and insurance companies alike. Covers the four essential aspects of credit risk management: Origination, Credit Risk Assessment, Portfolio Management and Risk Transfer. Provides ample references to and examples of credit market services as a resource for those readers having credit risk responsibilities. Designed for busy professionals as well as finance, risk management and MBA students. As financial transactions grow more complex, proactive management of credit portfolios is no longer optional for an institution, but a matter of survival.

Download or read book Disaster risk reduction in school curricula case studies from thirty countries written by and published by UNESCO. This book was released on 2012 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Male Pill written by Nelly Oudshoorn and published by Duke University Press. This book was released on 2003-09-10 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Male Pill is the first book to reveal the history of hormonal contraceptives for men. Nelly Oudshoorn explains why it is that, although the technical feasibility of male contraceptives was demonstrated as early as the 1970s, there is, to date, no male pill. Ever since the idea of hormonal contraceptives for men was introduced, scientists, feminists, journalists, and pharmaceutical entrepreneurs have questioned whether men and women would accept a new male contraceptive if one were available. Providing a richly detailed examination of the cultural, scientific, and policy work around the male pill from the 1960s through the 1990s, Oudshoorn advances work at the intersection of gender studies and the sociology of technology. Oudshoorn emphasizes that the introduction of contraceptives for men depends to a great extent on changing ideas about reproductive responsibility. Initial interest in the male pill, she shows, came from outside the scientific community: from the governments of China and India, which were interested in population control, and from Western feminists, who wanted the responsibilities and health risks associated with contraception shared more equally between the sexes. She documents how in the 1970s, the World Health Organization took the lead in investigating male contraceptives by coordinating an unprecedented, worldwide research network. She chronicles how the search for a male pill required significant reorganization of drug-testing standards and protocols and of the family-planning infrastructure—including founding special clinics for men, creating separate spaces for men within existing clinics, enrolling new professionals, and defining new categories of patients. The Male Pill is ultimately a story as much about the design of masculinities in the last decades of the twentieth century as it is about the development of safe and effective technologies.