Dissertations / Theses on the topic 'Investment performance'
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Hoepner, Andreas G. F. "Essays on responsible investment, research output analyses and investment performance evaluation." Thesis, University of St Andrews, 2010. http://hdl.handle.net/10023/2130.
Full textGallagher, David R. "Investment Manager Characteristics, Strategy and Fund Performance." Thesis, The University of Sydney, 2002. http://hdl.handle.net/2123/858.
Full textGallagher, David R. "Investment Manager Characteristics, Strategy and Fund Performance." University of Sydney. Business, 2002. http://hdl.handle.net/2123/858.
Full textPalmberg, Johanna. "Family Ownership and Investment Performance." Doctoral thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-14518.
Full textDe, Villiers H. O. "Risk-adjusted performance : an overview." Thesis, Stellenbosch : Stellenbosch University, 2005. http://hdl.handle.net/10019.1/50442.
Full textENGLISH ABSTRACT: Investors accept that actual investment pertormance differs from anticipated pertormance. The difference between the two is attributed to investment risk. Professional investment managers charge significant fees for active investment management. Investors funding this industry should evaluate the risk-adjusted investment pertormance to determine if it justifies the associated costs. A number of research papers have presented various methods for adjusting investment pertormance for the risk assumed in the generation thereof. This study presents an overview of techniques available for measuring riskadjusted pertormance of listed equity related investments. The classic pertormance measures of Treynor, Sharpe and Jensen are discussed. Alternative ways of quantifying risk offer different methods for risk-adjusting periormance. This leads to the discussion of more modern approaches to risk-adjustment, such as the Sortino ratio and the Omega measure. The lack of risk-adjusted pertormance reporting within the South African investment management industry is highlighted. An overview of guidelines for risk-adjusted pertormance reporting is presented. As such, it is relevant to investment managers, policy makers of the industry and the financial press reporting on investment management. A comparison of risk-adjusted pertormance figures between unitised-, indexand direct equity investment approaches show that a simple direct equity investment strategy outpertorm on risk-adjusted basis for the five year period reviewed.
AFRIKAANSE OPSOMMING: Beleggers aanvaar die feit dat gerealiseerde beleggings opbrengste van verwagte opbrengste verskil. Die verskil word aan beleggings risiko toegeskryf. Professionele beleggingsbestuurders hef aansienlike fooie om beleggings aktief te bestuur. Beleggers wat hierdie industrie befonds behoort die risiko-aangepaste beleggingsprestasie te evalueer ten einde vas te stel of dit die kostes regverdig wat daarmee gepaardgaan. 'n Aantal navorsingsverslae het reeds verskeie metodes voorgestel vir die aanpassing van beleggingsprestasie vir risiko aanvaar tydens die najaag van prestasie. Hierdie studie bied 'n oorsig van beskikbare tegnieke vir die meet van risiko aangepaste prestasie van genoteerde aandeel- en verwante beleggings. Die klassieke metodes van Treynor, Sharpe en Jensen word bespreek. Alternatiewe metodes om risiko te kwantifiseer bied verskillende metodes om prestasie vir risiko aan te pas. Dit lei tot die bespreking van meer moderne benaderings tot risiko aanpassing, soos die Sortino verhouding en die Omega maatstaf. Hierdie studie bring die tekort van risiko aangepaste prestasie verslaggewing in die Suid-Afrikaanse beleggingsbestuur industrie aan die lig. 'n Oorsig van riglyne vir risiko-aangepaste prestasie verslaggewing word gelewer. Die studie is gevolglik relevant vir beleggingsbestuurders, industrie beleidmakers en die finansiele pers wat oor beleggingsbestuur verslag doen. 'n Vergelyking van risiko-aangepaste opbrengs syfers tussen kollektiewe-. indeks- en direkte aandele beleggings benaderings lig uit dat 'n eenvoudige direkte aandele belegging strategie op 'n risiko-aangepaste basis oor die vyf jaar periode ondersoek, uitpresteer het.
Wootton, Sileanne. "The investment performance of individual investors." Thesis, Henley Business School, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.409556.
Full textLooi, Adrian Banking & Finance Australian School of Business UNSW. "Investment manager trading behaviour and performance." Awarded by:University of New South Wales. Banking & Finance, 2007. http://handle.unsw.edu.au/1959.4/40413.
Full textGestrin, Michael V. "The performance of foreign direct investment." Thesis, University of Oxford, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.404789.
Full textSchuster, Joel D. "Business aircraft investment and financial performance." Thesis, Capella University, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=3714060.
Full textThis research was an attempt to replicate, yet expand previous empirically supported, qualitative gray literature research conducted by NEXA (2010). The primary difference between this study and the NEXA study is adding significance testing in a quantitative study, to substantiate previously reported positive organizational financial performance associated with business aircraft investment. The outcome contradicted the previous study by providing evidence there were no significant differences in financial performance between those companies that own business aircraft and those companies that do not. The sampling populations were collected from publicly available data through a Federal Aviation Administration (FAA) aircraft registry and Securities and Exchange Commission (SEC) / Edgar database for the Standard and Poor’s (S&P) 600 Small Capitalization (SmallCap) Index funds.
The research utilized the Andersen (2001) Utilization strategies, Benefits, and shareholder Value (UBV) conceptual framework. The dependent variables of Earnings Before Income Tax, Depreciation and Ammoritization (EBITDA), Revenue Growth, Return on Equity (ROE), and Return on Assets (ROA) financial indicators and ratios were applied to test the significant differences between the independent variables of companies that own business aircraft versus companies that do not own business aircraft. The breadth of associated costs when contemplating investment in business aircraft goes well beynd the initial cost of the aircraft itself and was not covered in this study. Depending on the strategic objective and intended use of a business aircraft, ownership involves an additional and significant investment in infrastructure and back office support, segregated by direct and indirect costs.
In order to help define the future roles of business aircraft, the industry as a whole must create a synchronous and performance based public face that emphasizes the broad collection of the multi-dimensional and positive, technological, economic, and regulatory, political, and social dynamic contributions. Moreover, with financial indicators demonstrating positive value, productivity, and performance separation between business aircraft ownership from non-ownership, coupled with the internal as well as external drivers influencing financial results, the public face of business aviation and its aircraft should be one of the top investment decisions for future sustainability and competitive advantage.
Eves, Alfred Christopher, University of Western Sydney, College of Law and Business, and of Construction Property and Planning School. "Developing a NSW rural property investment performance index." THESIS_CLAB_CPPP_Eves_A.xml, 2003. http://handle.uws.edu.au:8081/1959.7/810.
Full textDoctor of Philosophy (PhD)
Ball, Robert. "Examining the relationship between ESG performance and financial performance of firms listed on the JSE." Master's thesis, Faculty of Commerce, 2021. http://hdl.handle.net/11427/33634.
Full textYildiz, Cagri. "Investment Performance of the World Automotive Industry." Thesis, Jönköping University, JIBS, Economics, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-491.
Full textThe paper examines the investment performance of the world automotive industry using a sample of 21 original equipment manufacturers (OEMs) based in three major continents, North America, Europe and Asia between the years 1999 and 2004. The empirical findings suggest that there exists persistent overinvestment not only in the global level but also in the major automotive production regions analyzed. Proving that none of the 3 regions gain returns on investment at least as large as their costs of capital, shareholder wealth is not maximized in the world automotive industry. Europe, among these regions, proves to gain the highest return on investment of its cost of capital. The empirical results also show that the return on investment financed by debt is high around the world and close to 100% of its cost of capital.
Genest, Alexandre. "Performance Requirement Prohibitions in International Investment Law." Thesis, Université d'Ottawa / University of Ottawa, 2017. http://hdl.handle.net/10393/37013.
Full textGardner, Peter Alan Banking & Finance Australian School of Business UNSW. "Investment manager trading behaviour and fund performance." Publisher:University of New South Wales. Banking & Finance, 2008. http://handle.unsw.edu.au/1959.4/43109.
Full textGalagedera, Don U. A. "Investment performance appraisal and asset pricing models." Monash University, Dept. of Econometrics and Business Statistics, 2003. http://arrow.monash.edu.au/hdl/1959.1/5780.
Full textZhao, Jing, and 趙靜. "Cognitive limitation, herding behavior, and investment performance." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/207201.
Full textpublished_or_final_version
Economics and Finance
Doctoral
Doctor of Philosophy
Mill, Greig Andrew. "The performance of UK ethical investment funds." Thesis, De Montfort University, 2007. http://hdl.handle.net/2086/4113.
Full textRockler, Nicolas O. "Regional economic performance and public infrastructure investment." Thesis, Massachusetts Institute of Technology, 2000. http://hdl.handle.net/1721.1/69757.
Full text"February 2000."
Includes bibliographical references.
Three studies were conducted to analyze the relationship between public infrastructure investment and regional economic performance. The first study examines the literature on economic development and productivity growth. I show that conflicting results from studies by other analysts are the likely result of poor public capital data spanning to short an interval, and an inadequate modeling framework. Public investment may generate small improvements in productivity, but models understate economic impacts owing to the public goods character of some forms of public capital. The second study explores the relationship between economic distress and public infrastructure investment. I use a sample of U.S. counties to analyze public investment according to level of economic distress. With simple investment models, I estimated infrastructure needs for counties with apparent shortfalls. I analyzed the needs-estimates in a series of case studies in which jurisdiction planning and budget personnel were consulted about the accuracy of the estimates. I show that short-run economic distress is not to be linked to public infrastructure investment. Over the long-run, investment varies by level of distress, but as a consequence of private residential investment. The needs-estimating models were reasonably accurate, but missing investment data proved troublesome. Counties proved to be a poor unit of analysis for infrastructure needs, as since significant variation was observed among jurisdictions within counties. The third study demonstrates the need for better estimates of public infrastructure capital stock. I prepared new capital stock estimates for two regions using local investment data and survey-based public capital service lives. I surveyed one thousand jurisdictions in the New England region and the state of Texas. Survey-based service-lives seem to differ significantly from estimated lives. Stock estimates using local investment data and survey-based service-lives produce dramatic differences compared to estimated stocks at the state and regional level. The new data, however, performed just as poorly as other series when used to estimate aggregate production functions. Prior analysts' understanding the relationship between economic performance and public infrastructure investment has been limited because of poor data, and inadequate appreciation of infrastructure's inherent complexity. The research presented here demonstrates that significant improvements are possible and worth undertaking.
by Nicholas O. Rockler.
Ph.D.
Haldane, Andrew. "South African collective investment scheme performance fees." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/8556.
Full textThis paper is an analysis of the South African Collective Investment Schemes (CIS) performance fee structure. The paper looks at the methods used in the calculation of performance fees and provides a detailed breakdown of their implementation in the South African CIS industry. With the aim to show and explain the various performance fee structures that are currently in place in the South African CIS market and then to highlight differences in structures between so-called "similar funds".
Barwick-Barrett, Matthew. "The performance of socially responsible investment portfolios." Thesis, Cardiff University, 2015. http://orca.cf.ac.uk/77707/.
Full textLiu, Shibo. "Statistical inference and efficient portfolio investment performance." Thesis, Loughborough University, 2014. https://dspace.lboro.ac.uk/2134/15185.
Full textWarren, Cranla. "Financial Investment Advisor Professional Arrogance and Performance." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/6701.
Full textBehrens, Jeffrey S. "Investment performance of life-science venture capital investment funds, persistence, and subsector analysis." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/38334.
Full textVita.
Includes bibliographical references (leaf 28).
Venture capital investment performance data and performance attribution are not typically published. Venture investors articulate (and sell to LPs) conflicting strategies; the popular business literature and culture is rife with rapidly changing beliefs about the relative attractiveness of healthcare venture subsectors, particularly therapeutics and devices. To examine these issues in a more rigorous format I developed a dataset of healthcare venture deals, scored each deal with a new metric ("jb-score"), and assigned each portfolio company to appropriate subsectors. This dataset was then used to examine subsector performance, persistence, and fund strategy attribution (pure vs. mixed healthcare strategies.) Specifically, I found that the performance characteristics of device and therapeutic (aka biotech or drug) investments are similar: both subsectors evidence similar jb-scores and firms who invest heavily in these subsectors show similar levels of persistent overperformance with devices showing somewhat higher persistence. Firms that focus on one subsector do not perform as well as firms that follow a more balanced strategy. Finally, I examine the validity of the jb-score and offer some suggestions for future improvements.
by Jeffrey S. Behrens.
M.B.A.
S.M.
Hossain, Ibteesam. "Investment Performance of Swedish Family Firms : A study of how management, control and ownership impact Swedish family firms investment performance." Thesis, Jönköping University, JIBS, Economics, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1119.
Full textSammanfattning
Denna magister uppsats undersöker huruvida ledarskap, ägarstruktur och kontroll påverkar svenska familjeföretags investerings prestation på marknaden. I undersökningen har 90 svenska företag analyserats inom en 15 års period (1990-2005).
Ledarskap har delats upp i tre olika strukturer, den första strukturen står för grundar ledarskap. Regressionsanalysen i denna uppsats visade att en grundare har en positiv påverkan på företagets investerings prestation då grundaren agerade som Verkställande Direktör (VD), Styrelseordförande (SO) eller båda. Detta kan förklaras utifrån teorier som gör tydligt att en grundare äger entreprenörskaps anda och utmärkande kunskaper inom området ifråga. Resultatet för den andra strukturen, ättlings ledarskap visade att då ättlingar till grunderaren verkade som antingen VD, SO eller båda i företaget förekom en negativ påverkan på företagets finansiella prestation. Detta kan förklaras utifrån teorier som menar att en ättling inte har samma kunskap eller ambitioner som grundaren till företaget. Ättlingar har oftast ärvt högre poster inom företagen på grund av sina familjerelationer till grundaren snarare än på grund av sina kunskaper inom området. Den tredje ledarskapsstrukturen är externa ledare. Externa ledare är antingen en VD, SO eller båda som har blivit inhyrda till företaget av ägarfamiljen. Regressionsanalysen visade ett insignifikant resultat.
När resultaten för ägarstruktur och andel röster av ägare analyserades i både företag med röstdifferensiering och utan röstdifferensiering visade det sig att när grundaren agerade som VD, SO eller båda i företag utan röstdifferensiering förekom ingen minoritets expropriation eller principal-agent konflikter inom företaget, vilket betyder att företagets finansiella prestation påverkades positivt. Liknande resultat hittades även för företag med röstdifferensiering som hade externa ledare i sin ledning.
Eves, Alfred Christopher. "Developing a NSW rural property investment performance index /." View thesis, 2003. http://library.uws.edu.au/adt-NUWS/public/adt-NUWS20051125.144519/index.html.
Full textHarris, Joshua A. "Real Estate Investment Trust Performance, Efficiency and Internationalization." Doctoral diss., University of Central Florida, 2012. http://digital.library.ucf.edu/cdm/ref/collection/ETD/id/5290.
Full textID: 031001577; System requirements: World Wide Web browser and PDF reader.; Mode of access: World Wide Web.; Adviser: Randy I. Anderson.; Title from PDF title page (viewed August 26, 2013).; Thesis (Ph.D.)--University of Central Florida, 2012.; Includes bibliographical references (p. 128-134).
Ph.D.
Doctorate
Business Administration
Business Administration; Finance
Chen, Jinghan. "Foreign direct investment in China : policies and performance." Thesis, Lancaster University, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.332056.
Full textHahn, Tong H. "Investment performance of HUD subsidized multi-family housing." Thesis, Massachusetts Institute of Technology, 1993. http://hdl.handle.net/1721.1/66758.
Full textTitle as it appears in the Sept 1993 MIT Graduate List: Investment performance of subsidized housing.
Includes bibliographical references (leaves 55-56).
by Tong H. Hahn.
M.S.
Brown, Warren Gerhard Pearce. "Fund and manager characteristics : determinants of investment performance." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/1244.
Full textThesis (PhD (Business Management))--Stellenbosch University, 2008.
The objective of this study is to provide a new approach to assessing fund management and to establish whether there is empirical support for this approach. The new approach will improve investors’ decision making with respect to the management and investment of their assets. We construct equity-only funds from quarterly equity holdings of unit trusts. The funds are ranked each quarter using various performance measures and segmented into winners and losers; firstly according to the median of the ranks and secondly according to quintile rankings. The funds’ rankings are examined for evidence of persistence. Secondly, a performance attribution method is introduced that identifies the static (“buy-and-hold”) portion and the trading portion of a fund. The funds are examined in terms of characteristics that distinguish between funds according to how the manager has chosen to organise (or construct) the fund. These characteristics are the static portion, the trading portion, the size of the static portion and the extent of the overlap between funds’ holdings and the large, mid and small capitalisation indices. Relationships between winners and losers (based on quartiles) and the fund characteristics are examined. Finally, the trading activities of investment managers, for their funds, are examined. This examination begins with the use of traditional measures that focus on a holistic approach to evaluating trading ability. The examination is enhanced with the introduction of a new reductionism approach, where the success of individual trades is examined. The results of the earlier performance attribution are included in the evaluation of investment managers’ abilities to add value to investors’ assets via trading activities.
Barbarosh, Jason S. "PIPE Discounts, Premia, and Performance." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2129.
Full textPeiris, Dinusha Banking & Finance Australian School of Business UNSW. "The relationship between environmental social governance factors and US stock performance." Publisher:University of New South Wales. Banking & Finance, 2009. http://handle.unsw.edu.au/1959.4/43729.
Full textGouveia, André Gonçalves Pinto de. "An alternative stock index for benchmarking portuguese investment funds." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/10136.
Full textO índice PSI 20 é o padrão de referência por excelência da Euronext Lisboa. No entanto, os gestores de fundos portugueses que investem em ações nacionais podem não ter a possibilidade de replicar a carteira do PSI 20, devido às restrições ao investimento impostas pela regulação europeia para os mercados financeiros, nomeadamente as Diretivas UCITS. Este trabalho vai analisar até que ponto estas limitações podem ser impeditivas da performance dos fundos de investimento. É feita uma caracterização da legislação aplicável, bem como do segmento de fundos de investimento em ações nacionais que atuam no mercado nacional. Criou-se um índice alternativo ao PSI 20 para o período 2004-2011, respeitando os limites legais ao investimento, que servirá como benchmark da performance da amostra de fundos de investimento, que inclui todos os fundos em atividade durante o período completo em análise. Verificou-se que a nova série de rendimentos do mercado obtida, conquanto não sendo estatisticamente diferente do PSI 20, apresentou um retorno superior e volatilidade ligeiramente inferior. Procedeu-se à avaliação da performance utilizando indicadores clássicos. Os resultados obtidos sugerem que a maior diversificação imposta pela legislação não tem necessariamente um impacto negativo sobre os retornos obtidos, e que a comparação com um índice sujeito às mesmas regras dos fundos não leva a conclusões mais favoráveis à gestão ativa. Não se encontrou qualquer prova que os gestores de fundos, enquanto grupo, consigam obter de forma consistente uma performance acima do retorno do mercado, ajustado pelo risco.
While the PSI 20 blue-chip index has been widely used as a benchmark for the Portuguese stock exchange, it may not be replicable by fund managers due to investment limits imposed in UCIT European regulation. This dissertation compares the relative performance of a set of Portuguese mutual funds against both the standard PSI 20 benchmark and a modified version which fully respects said limits. Results show that the greater diversification imposed by the legal rules does not necessarily imply a sacrifice in terms of returns, and that no evidence was found of consistent, abnormal returns by active management, when evaluated by the modified benchmark.
Larimo, Jorma. "Foreign direct investment behaviour and performance : an analysis of Finnish direct manufacturing investments in OECD countries /." Vaasa : Universitas Wasaensis, 1993. http://aleph.unisg.ch/hsgscan/hm00001320.pdf.
Full textVon, Reibnitz Anna. "Active opportunity and fund performance." Phd thesis, 2013. http://hdl.handle.net/1885/151702.
Full textWang, Pang-Yu, and 王邦育. "Investment Performance of Fully Authorize Investment Insurance." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/bfudcw.
Full text元智大學
財務金融暨會計碩士班(財務金融學程)
107
In recent years, Taiwanese investors have been keen to invest in Investment Fully Authorize Investment Insurance (IFAII), hoping to earn more returns. This study explores whether these IFAIIs have excess returns. This study also examines the characteristics of IFAIIs could influence investment performance. The empirical results show that a great part of IFAIIs have negative buy and hold returns, only a small portion of them is profitable. Therefore, mean buy and hold returns of IFAII is negative. On the other hand, this study finds that the market returns are positive at the same period. The inconsistent results indicate that the investment performance of IFAII in Taiwan cannot help investors earn money. If we further control risk factors, such as market performance, size, growth opportunity, momentum, we still find negative risk adjusted returns of IFAII in Taiwan, which confirms that the investment performance of IFAII is bad. This study further finds that investment performance of IFAII with high commission fees or management fees do not perform better than that of other IFAIIs. In addition, investment performance of IFAII is similar when they are managed by domestic or foreign securities investment consulting company. The results imply that it is not necessary for investors to invest in IFAIIs with high commission fees or foreign securities investment consulting company. The findings of this study help investors better understand investment performance of IFAIIs, enabling investors to develop investment strategies that are more in line with their goals.
Lo, Chi-chao, and 羅琪兆. "ASEAN fund investment performance." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/51044461570802252094.
Full text清雲科技大學
國際企業管理研究所
98
The Fund has became one of the important financial investors, their reward is stable, spreading and circulation of convenient features, making available investors alike, the advantages and disadvantages for the regional fund and the special instructions, to invest in performance evaluations, and finally investment recommendations, as the sole proprietor of reference. This study of ten countries to the East of Shia place as a discussion on the subject, ASEAN ten States related literature, ASEAN ten States survey, ASEAN fund performance evaluation and ASEAN risk measure, as well as secondary home loans for the influence of ASEAN, and so on, the Fund through the ASEAN Fund more recent performance. Integrated by the standard deviation of size, you can learn the performance returns to fidelity size, the standard deviation of the Malaysian Fund smallest, HSBC global investment fund-India stock table maximum prospective difference. Sharpe ratio of high and low coefficient, it means the extent to which risk adjustment fund to fund the JF Malaysia and fidelity Malaysia Fund''s higher Sharpe ratio, the Fund less risk adjustment. According to the study, in line with standard deviation, sharp coefficient, beta coefficient and risk analysis, we find that no matter what is happening on home loans and home loans before or after the occurrence of subordinated by fidelity Malaysia Fund performed well.
Chou, Yun Hai, and 周雲海. "Evaluating The Investment Performance of Taiwan Security Investment Trust Companies." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/12275713978014259968.
Full text實踐大學
企業管理研究所
91
All the previous studies about mutual fund performance are all presumed each fund to be an isolated entity, trying to find either a general performance measure or the connections between fund managers’ personal characteristics and performance. They all neglected the fact that mutual funds might be issued by the same fund sponsors. And since these fund managers are employed by the same fund sponsors, they should work in the same offices, and use the same investment research resources and databases. They also should share their opinions through periodic investment conferences or formal industry reports. That’s why the investment herding occurs significantly among mutual funds issued by the same fund sponsors. And furthermore, if fund managers are the key to predict the success of the mutual funds, there should be significant performance differences after mutual funds replace their managers. In fact, studies proved that there’s no such significant differences for the replacement of managers. Due to herding effect, there might be similar react for performance among funds, especially those issued by the same sponsors. And since manager change wouldn’t affect performance significantly, we could say that fund managers should not be a sufficient condition concerning mutual fund performance, though it must be a necessary condition. And fund sponsors might play an important role that makes differences happening. In view of the possible sponsor effect, we try to go back to Mean-Variance model and add sponsor factors on it as qualitative predictors to conduct these mutiple-regression analyses and examine whether these sponsor factors could produce significant results. Using the database containing 5-year performance data (from 1998 to 2002) derived from monthly mutual fund performance ranking reports of SITCA, we find that there does exist statistically significant differences in both constants and slopes of the Mean-Variance regression lines of Taiwan mutual fund sponsors.
Chu, Ting-Yu, and 褚庭宇. "The Performance of Mutual Funds Investment Portfolio and Investment Strategy." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/48051665080803411894.
Full text淡江大學
財務金融學系碩士在職專班
102
The thesis aims to investigate the Markowitz portfolio theory associate with the VIX fear index and apply to mutual fund portfolios, hoping to provide investors when investing in mutual funds as to when the VIX index and sharply pulled low reference standards. It also allows ordinary investors to avoid chasing the high and kill low investment strategy, and long-term vision to look at investing in mutual funds. This data contain year 2012 to 2014 which obtained from Morningstar Fund Awards Fund and be established more than ten years. According to the mean-variance model of Markowitz (1952), we can seek the optimal efficiency of the leading edge of efficient portfolio model for the study, divided into six months trading period, quarter,month, and based on the VIX trading at 20% of ups and downs to make decisions and Change 10% of investment, respectively. Empirical results show that the average rate of return of VIX-20% is greater than the VIX-10%, a longer period of return on investment is better than trading during trading knowledge. Based on MV portfolio theory and every six months performance,the VIX-20% is the best trade rule. In summary, the empirical results prove that Markowitz portfolio theory and the VIX volatility strategies provide investors as a reference portfolio.
"Retirement fund business in Hong Kong: investment and performance." Chinese University of Hong Kong, 1988. http://library.cuhk.edu.hk/record=b5885890.
Full textPeng, Hsiu-Ying, and 彭秀瑛. "The Investment Performance of Discretionary Investment Policy in Taiwan Insurance Industry." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/63xrxe.
Full text國立高雄應用科技大學
金融系金融資訊碩士在職專班
105
The research explores the related empirical analysis of the investment performance of the “Discretionary Investment Policy” issued by Taiwan's insurance industry. The performance is through the financial market to collect the results of the operations of the real discretionary investment policy accounts. The further study is about the comparisons during its corresponding issue period and the benchmark from the performance risk level. Finally, the research is to probe into the performance attribution analysis through the regression analysis. The results show, on the whole, the poor performance of the research sample compared with the market benchmark and even the phenomenon of the remuneration is lower than the investment grade debt, but the risk is higher than the investment grade debt. It is obvious that the performance of the whole Discretionary Investment Policy is poor, but for the bottom of the extreme risk of VaR's management performance corresponds to the market expectations. Secondly, the significant differences are in the performance of different types of the Discretionary Investment Policy accounts at the same research sample company because of the different investors. Thirdly, the analysis of the factors influencing the performance of the remuneration of the discretionary investment policy can be seen that the impact of the benchmark and the benchmark risk on the performance is significantly positive. However, the risk of the accounts is significant negative, as for the performance is significantly worse of the issuance of insurance companies only one insurance company issued. In addition, the other models of insurance companies are not significant differences. In acting operations in the four models, there are two in the investment trust company of the whole market was significantly worse, the issued by the pricing currency and they are not significant in all models. Fourthly, according to the analysis of the risk factors influencing of the discretionary investment policy, and it can be seen that the risk of the benchmark and the account management fee are significantly positive for the risk of the whole. However, the remuneration and the remuneration of the account itself are significant negative, as for the agent variable issue insurance company sales of product risk is not significant difference. Acting operations in the four models some of the investment trust company in the discretionary investment policy of the whole market was significantly worse and the discretionary investment policy issued pricing currency in all models are not significant.
Sung, Hsuan-Yi, and 宋宣毅. "The Performance Analysis of Jewelry Investment." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/03805677893245357983.
Full text國立中興大學
高階經理人碩士在職專班
99
The purpose of this article is to analyze the return between jewelry and other investment commodity(e.g. gold, the fund of gold, the region fund on china). Furthermore, the main mission discovers the best appropriate investment strategy and commodity. The main research method adopts independent sample t test, and it promotes to compare the real value on relevant investment commodity. In the light of the result of t test, the return of diamond is not fluctuation over the past decade, but the performance of gold and regional fund of china is relatively . However, the strength of diamond is that the level of oscillation of price is stable relatively in the consideration of investment risk. As such, It is a good investment commodity for investors. In conclusion, the primary purpose of the study to analyze the assessment method on jewelry return and the comparison return of other investment commodity, and it is a good reference for investors in the future.
TSENG, HSUN-YANG, and 曾勛揚. "Investment, Firm Performance, and Financial Constraints." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/54eu9n.
Full text東吳大學
國際經營與貿易學系
104
R&D and capital expenditures in the company's investment activities are the most important discussion topic. When companies face financial constraints, may have their threshold limit for investment decisions. A few literature integrated investments, financial restrictions, the impact on R&D and capital expenditures on the company's performance to a research. In this paper, in addition to use multiple regression, Panel Data model, and simultaneous equations model to analysis. We find the impact on R&D expenditures and capital expenditures is not the same. Due to the R&D expenditures is the research of new products or new technology, it will affect the current tax net profit. Capital expenditures are the long-term investments. When the economy outlook is better, the company will increase its capital expenditure. Directors’ stock holding ratio shows a positive effect on corporate performance. That means good corporate governance can enhance the company's performance, and can have a positive effect on R&D and capital expenditures. When the companies face financial constraints, it may be difficult to obtain external financing. So, we find that financial constraints is significantly negative to capital expenditures.
Tsang, Ching Song, and 曾慶頌. "Insurance Company Investment and Performance Research." Thesis, 1996. http://ndltd.ncl.edu.tw/handle/72532659635966389860.
Full textHuang, Wei-Wen, and 黃瑋雯. "The Performance of Social Responsibility Investment." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/88773830680963643561.
Full text中興大學
財務金融系所
99
The concept of corporate social responsibility (CSR) becomes more and more important in the history of corporate governance. This research aims to investigate the fund and index performance of CSR portfolios in Taiwan and world stock market. The findings of the study show that the Dow Jones Sustainability Index、CommonWealth CSR portfolio、Fubon Social Responsibility Fund have significantly excess return, while FTSE4Good Index Series、KLD 400 Social Index、遠見CSR portfolio、Fortune CSR portfolio do not exhibit excess return than conventional benchmarks. Furthermore, based on the constructed procedure of CSR indices and funds, a local corporate social responsibility portfolio is established from three aspects, the social and environmental, corporate finance, and firm commitment, to evaluate a firm’s contribution to CSR. Applying the approach of binary signal model, utilize the model to discriminate winners from losers, along with intangible asset valuation, then use the market index as a benchmark for performance evaluation. The findings of this study show that the CSR portfolio this research constructed have significantly excess return. Therefore, investors could base on the relief of corporate social responsibility to construct their portfolio and the corporate should grand corporate social responsibility seriously in order to enhance the corporate value.
TSAI, PO-JEN, and 蔡博任. "The Performance Analysis of Value Investment." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/j558m2.
Full text國立臺灣大學
財務金融學研究所
106
This thesis examines whether portfolio composed of low price to book value stocks can beat the market. The answer is yes. In addition, the performance of this portfolio can be further improved by building a new portfolio with stocks having high current ratio or low volatility in the original portfolio.
Lin, Chih-nan, and 林志南. "THE CORRELATION RESEARCH OF INVESTMANT MOTIVATION、INVESTMENT STRATEGY、ORGANIZATION INTERDEPENDENCE AND ORGANIZATION PERFORMANCE OF TAIWAN BUSINESS INVESTMENT IN MAINLAND CHINA." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/94506879977094556628.
Full text南華大學
管理研究所
91
Because of global capitalism transferred and some Asia country’s economic policy opened up, Taiwan economic system transferred from capital-in to capital-out, and Taiwan trade depended upon Mainland China had more then United State. Thus, The purpose of this thesis is to find the correlation between investment motivation, investment strategy, organization interdependence, and organization performance of Taiwan business investment in Mainland China. In addition, we take organization characteristic and manager characteristic in variables. The results of the research indicate that: 1. The organization characteristic and manager characteristic are significant partial difference on the other variables. 2. The correlation between investment strategy, organization interdependence,and organization performance is existence, and the investment motivation correlates to the other variables partially. As the results,we suggest that the industry should notice the positive interdependence with competitors and the professinal manager and foreign manager hired.It will help industry`s performance and globalization.
Kapur, Deep Chand. "Prices, expectations and the performance of the Indian stockmarket." Phd thesis, 1988. http://hdl.handle.net/1885/129484.
Full textChang, Sheng-Hsiung, and 張勝雄. "The Comparison of the Investment Performance by BTID and Investment-Linked Insurance." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/41454792402713458342.
Full text真理大學
統計與精算學系碩士班
102
Investment-linked Insurance is the combined products of insurance and investment; this means that these contracts both offer insurance protection and investment by which policyholders have to take all risks. Another similar strategy concept of insurance and investment is to buy term and invest the difference(BTID); this means that consumers buy the term life insurance and invest the difference to the risky assets. Therefore, the purpose of this paper is to analyze and compare the investment performance of two strategies(that is to buy investment-linked Insurance and BTID) for the consumers on many insurance factors, by using the simulation method. This study we find that the firstly, whether gender, age and insurance period, the investment performance of BTID is better than the investment performance of investment-linked insurance product. Secondly, we find that the insurance factor (that is total loading premium ratio) will affect the consumer choice of investment strategies. Finally, the investment factor (that is average return and volatility) will not change the choice of investment strategies.
Cheng, Wei-Ling, and 鄭椲齡. "Style Investment Strategy and Investment Performance-Evidence of the CAN-SLIM Strategy." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/14297944068242387134.
Full text國立高雄應用科技大學
國際企業系碩士在職專班
101
How to beat the market has long been of great interest to financial researchers and practitioners. The study intends to apply the idea of style investing to explore how the strategy of style investing would affect investment performance. Specifically, we investigate both the short-run and long-run excess returns of the CAN-SLIM strategy, aiming to find a new investment style. With the data from Taiwan Economic Journal for the period of 2006-11, a variety of investment styles, including value, growth, large-cap, small-cap, and CAN-SLIM stocks, are compared using the pairwise t testing of statistical significance in different market conditions. The findings are two-fold. First, the CAN-SLIM stocks are shown to outperform the other investment styles. Second, the value, growth, and size effects are found to be significant in Taiwan stock market. Keywords: style investing; investment performance; CAN-SLIM strategy
HUANG, PEI-JU, and 黃珮如. "The Impact of Five Personality Traits on Investment Behavior and Investment Performance." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/ugawve.
Full text亞洲大學
經營管理學系碩士在職專班
107
This study analyzes Taiwanese investors who invest in China for inancial investment, conducts research and analysis of the “five personality traits”, “investment behavior” and “investment performance” of investors, and understands the degree of relevant influence between the three facets. It can effectively combine the economic and trade business of Chinese Taiwanese businesses and expand the operational niche of cross-strait financial market development. The results of this study show that the overall facet of personality traits, as well as personality traits extroversion, diligence, affinity, emotional stability and openness of experience have a significant positive impact on investment behavior. The overall facet of personality traits and the diligence and prudence of personality traits have a significant positive impact on investment performance; investors' investment behavior has no significant impact on investment performance, and representatives do not invest more because of investors' investment behavior. Performance is higher.