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Journal articles on the topic "Portfolio overlap"
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Peswani, Shilpa, and Mayank Joshipura. "The volatility effect across size buckets: evidence from the Indian stock market." Investment Management and Financial Innovations 16, no. 3 (August 9, 2019): 62–75. http://dx.doi.org/10.21511/imfi.16(3).2019.07.
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The portfolio of low-volatility stocks earns high risk-adjusted returns over a full market cycle. The annual alpha spread of low versus high-volatility quintile portfolios is 25.53% in the Indian equity market for the period from January 2000 to September 2018. The low-volatility (LV) effect is not an overlap of other established factors such as size, value or momentum. The effect persists across various size buckets (market capitalization). The performance of the low-volatility effect within various size buckets is analyzed using three different portfolio formation methods. Irrespective of the method of portfolio construction, the low-volatility effect exists and it also generates economically and statistically significant risk-adjusted returns. The long-short portfolios across the study deliver exceptionally high and statistically significant returns accompanied by negative beta. The low-volatility effect is not restricted to small or illiquid stocks. The effect delivers the highest risk-adjusted returns for the portfolio consisting of largecap stocks. Though the returns of the portfolio comprising of large-cap LV stocks are lower than the returns of the portfolio comprising of small-cap LV stocks, its Sharpe ratio is higher because of less risky nature of large-cap stocks as compared to small-cap stocks. The LV portfolio majorly comprises of large-cap, growth and winner stocks. But within size buckets, large-cap and mid-cap low LV picks growth and winner stocks, while small-cap LV picks value stocks.
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Pungulescu, Crina. "Using Textual Analysis to Diversify Portfolios." Economics and Finance Letters 9, no. 1 (June 15, 2022): 87–98. http://dx.doi.org/10.18488/29.v9i1.3028.
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Semantic fingerprinting is a leading AI solution that combines recent developments from cognitive neuroscience and psycholinguistics to analyze text with human-level accuracy. As an efficient method of quantifying text, it has already found its application in finance where the semantic fingerprints of company descriptions have been shown to successfully predict stock return correlations of Dow Jones Industrial Average (DJIA) constituents. By extension, it has been suggested that diversified portfolios could be constructed to exploit the fundamental (dis)similarity between companies’ core activities (measured by the semantic overlap of company descriptions). This paper follows the performance of two portfolios made of the same DJIA constituent companies: the “minimum semantic concentration” portfolio (constructed with text-based portfolio weights) and the traditional “minimum variance” portfolio, over a time span of 16 years including two high volatility events: the 2007 − 2009 financial crisis and the COVID pandemic. The results confirm that textual analysis using semantic fingerprinting is consistently successful in predicting stock return correlations and is valuable as a portfolio selection criterion. However, in times of high market volatility the fundamental information given by the companies’ core activities, while still relevant, might carry less weight.
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CHI, Guo-tai, Feng CHI, and Guang-jun ZHAO. "Optimization Model of Incremental Loan Portfolio based on Risks Overlap of Incremental and Existing Portfolio." Systems Engineering - Theory & Practice 29, no. 4 (April 2009): 1–18. http://dx.doi.org/10.1016/s1874-8651(10)60015-4.
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Vlasenko, Lev, Denys Mykhailyk, Halina Bublei, and Viktoriia Ogloblina. "Evaluation Of The Composite Export Similarity Index On The Example Of China." REICE: Revista Electrónica de Investigación en Ciencias Económicas 8, no. 16 (December 27, 2020): 135–49. http://dx.doi.org/10.5377/reice.v8i16.10677.
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The purpose of this article is to enhance the Export Similarity Index to provide more reliable results on whether and to what extent two countries are potential and immediate competitors in the global trade. To achieve this existing methodology was complemented with the set of geographical destinations. This allows the evaluation of the overlap in export portfolios of two or more countries and understanding the possible level of their competition in international trade. To prove the efficiency of this enhanced index China’s export portfolio was compared with 50 largest exporters. Achieved results demonstrate a strong overlap of Chinese trade with Vietnam, Japan, and the Philippines proving the veracity of the introduced methodology.
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De Clercq, Dirk, and Harry J. Sapienza. "When Do Venture Capital Firms Learn from Their Portfolio Companies?" Entrepreneurship Theory and Practice 29, no. 4 (July 2005): 517–35. http://dx.doi.org/10.1111/j.1540-6520.2005.00096.x.
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In this study, we examine when venture capital firms (VCFs) learn from their portfolio companies (PFCs). Relying primarily on learning and behavioral theories, we develop hypotheses regarding the effects of prior experience, knowledge overlap, trust, and PFC performance on learning by VCFs. We use a combination of primary and secondary data from 298 U.S.–based VCFs to test the hypotheses. Interview data are used to illuminate the results and to guide our discussion of implications. Many of our results were surprising. For example, we found that the VCF's overall experience is negatively related to VCF learning, and we found that trust in VCF–PFC dyads is also negatively associated with VCF learning. Whereas we expected to observe a curvilinear relationship between knowledge overlap and learning, we found that lower levels of knowledge overlap were associated with greater learning in a linear fashion. Finally, we found that VCFs perceive greater learning to occur in higher–performing PFCs. We discuss the limitations and implications of our findings and also suggest avenues for future research.
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Aribarg, Anocha, and Neeraj Arora. "Research Note—Interbrand Variant Overlap: Impact on Brand Preference and Portfolio Profit." Marketing Science 27, no. 3 (May 2008): 474–91. http://dx.doi.org/10.1287/mksc.1060.0262.
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Jakl, Jakub. "Impact of Quantitative Easing on Purchased Asset Yields, its Persistency and Overlap." Journal of Central Banking Theory and Practice 6, no. 2 (May 1, 2017): 77–99. http://dx.doi.org/10.1515/jcbtp-2017-0014.
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Abstract The main focus of this paper rests on the event study and SVAR analysis of quantitative easing that was initiated as a reaction to the financial crisis at the turn of 2008/2009 that finally ended in 2014. The Fed was virtually unable to continue with its conventional monetary policy regime in environment of zero-bound threshold, where there is no easy way to decrease main monetary policy rate any further. As a reaction to this limitation, the Fed started to practice quantitative easing and other unconventional measures. Event study examines changes in yields of purchased assets, namely US Treasuries, MBS and agency debt, and on two-day event window of the OIS and yield spreads quantifies imminent impact of QE announcements and relevant chairman speeches. Following VAR model and impulse-response functions, I examine the impact of QE and its persistency on purchased asset and on alternative asset classes in the framework of various transmission channels such as signalling, portfolio-balancing and liquidity channels. In this study I found non-negligible impact of QE on purchased assets in both models through all waves of QE and time persistency patterns in IRFs part. Furthermore, some evidence for portfolio-balancing channel and other related channels was found.
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Hasserjian, Robert P., Rena Buckstein, and Mrinal M. Patnaik. "Navigating Myelodysplastic and Myelodysplastic/Myeloproliferative Overlap Syndromes." American Society of Clinical Oncology Educational Book, no. 41 (March 2021): 328–50. http://dx.doi.org/10.1200/edbk_320113.
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Myelodysplastic syndromes (MDS) and MDS/myeloproliferative neoplasms (MPNs) are clonal diseases that differ in morphologic diagnostic criteria but share some common disease phenotypes that include cytopenias, propensity to acute myeloid leukemia evolution, and a substantially shortened patient survival. MDS/MPNs share many clinical and molecular features with MDS, including frequent mutations involving epigenetic modifier and/or spliceosome genes. Although the current 2016 World Health Organization classification incorporates some genetic features in its diagnostic criteria for MDS and MDS/MPNs, recent accumulation of data has underscored the importance of the mutation profiles on both disease classification and prognosis. Machine-learning algorithms have identified distinct molecular genetic signatures that help refine prognosis and notable associations of these genetic signatures with morphologic and clinical features. Combined geno-clinical models that incorporate mutation data seem to surpass the current prognostic schemes. Future MDS classification and prognostication schema will be based on the portfolio of genetic aberrations and traditional features, such as blast count and clinical factors. Arriving at these systems will require studies on large patient cohorts that incorporate advanced computational analysis. The current treatment algorithm in MDS is based on patient risk as derived from existing prognostic and disease classes. Luspatercept is newly approved for patients with MDS and ring sideroblasts who are transfusion dependent after erythropoietic-stimulating agent failure. Other agents that address red blood cell transfusion dependence in patients with lower-risk MDS and the failure of hypomethylating agents in higher-risk disease are in advanced testing. Finally, a plethora of novel targeted agents and immune checkpoint inhibitors are being evaluated in combination with a hypomethylating agent backbone to augment the depth and duration of response and, we hope, improve overall survival.
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Ali, Md Hakim, Md Akther Uddin, Mohammad Ashraful Ferdous Chowdhury, and Mansur Masih. "Cross-country evidence of Islamic portfolio diversification: are there opportunities in Saudi Arabia?" Managerial Finance 45, no. 1 (January 14, 2019): 36–53. http://dx.doi.org/10.1108/mf-03-2018-0126.
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Purpose On the backdrop of growing importance of Shariah compliant equity markets, the purpose of this paper is to study cross-country portfolio diversification benefits for investors with major trading partners of Saudi Arabia, namely, USA, China, Japan, Germany and India, who have already invested or tend to invest in Saudi Arabian stock market. Design/methodology/approach The authors have investigated time invariant, dynamic correlations at different investments horizons of the investors among Islamic asset classes by applying relevant econometric techniques like multivariate generalized autoregressive conditional heteroscedastic –DCC and continuous wavelet transforms. For robustness, this study also applied maximal overlap discrete wavelet transform. Findings The findings tend to indicate that the Saudi Arabian investors have portfolio diversification benefits with all major trading partners in the short-term investment horizon. Interestingly, Saudi Arabian market has the least portfolio diversification benefits with the Chinese market. However, in the long run, all markets are correlated, yielding minimum portfolio diversification benefits and most importantly Saudi Arabian investors have portfolio diversification benefits with the Indian Islamic equity market in almost all investment horizons. The findings are highly consistent across different econometric technique estimations. Research limitations/implications The authors are only considering five major trading partners of Saudi Arabia. Also, the authors are using S&P and FTSE shari’ah index. Moreover, the time period of the study is constrained by the availability of shari’ah indices. Econometric limitations are also well documented in the literature. Practical implications The results could be beneficial for the investors, portfolio managers, hedge fund managers and institutional investors and also could be useful for the policy makers in their policy-making decisions. Originality/value Only very few studies have looked into the benefits of international portfolio diversification from the perspective of local investors as well as the portfolio diversification benefits with the major trading partners of Saudi Arabia. One of the novelties of the method is to make the stock investors, practitioners and policy makers aware of the portfolio diversification benefits available at different time scales such as 4, 8, 16, 32, 64 and 256 trading days as investment holding periods to unveil the true dynamics of co-movement between those different assets.
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Llewellyn, Nicole, Dorothy R. Carter, Deborah DiazGranados, Clara Pelfrey, Latrice Rollins, and Eric J. Nehl. "Scope, Influence, and Interdisciplinary Collaboration: The Publication Portfolio of the NIH Clinical and Translational Science Awards (CTSA) Program From 2006 Through 2017." Evaluation & the Health Professions 43, no. 3 (March 27, 2019): 169–79. http://dx.doi.org/10.1177/0163278719839435.
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The Clinical and Translational Science Awards (CTSA) program sponsors an array of innovative, collaborative research. This study uses complementary bibliometric approaches to assess the scope, influence, and interdisciplinary collaboration of publications supported by single CTSA hubs and those supported by multiple hubs. Authors identified articles acknowledging CTSA support and assessed the disciplinary scope of research areas represented in that publication portfolio, their citation influence, interdisciplinary overlap among research categories, and characteristics of publications supported by multihub collaborations. Since 2006, CTSA hubs supported 69,436 articles published in 4,927 journals and 189 research areas. The portfolio is well distributed across diverse research areas with above-average citation influence. Most supported publications involved clinical/health sciences, for example, neurology and pediatrics; life sciences, for example, neuroscience and immunology; or a combination of the two. Publications supported by multihub collaborations had distinct content emphasis, stronger citation influence, and greater interdisciplinary overlap. This study characterizes the CTSA consortium’s contributions to clinical and translational science, identifies content areas of strength, and provides evidence for the success of multihub collaborations. These methods lay the foundation for future investigation of the best policies and priorities for fostering translational science and allow hubs to understand their progress benchmarked against the larger consortium.
Dissertations / Theses on the topic "Portfolio overlap"
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Aibinu, John. "Les trois essais sur les actifs bancaires : Points communs et risque systémique." Electronic Thesis or Diss., Limoges, 2023. http://www.theses.fr/2023LIMO0085.
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Cette thèse analyse l'impact de la communité des actifs bancaires sur le risque systémique. Cette étude examine l'impact du chevauchement des portefeuilles d'actifs sur le risque systémique dans les grandes banques centrales américaines. Les résultats révèlent une relation en forme de U entre la communalité des actifs, la probabilité individuelle de défaut et le risque systémique parmi les banques. Une plus faible communauté d'actifs est liée à une réduction du risque, tandis qu'une plus grande communauté est préjudiciable à la stabilité financière. L'étude des actifs liquides et illiquides confirme la relation en U. Nos résultats soulignent en outre l'importance du maintien d'une faible communalité des actifs pour la stabilité financière en période normale et en période de crise, ainsi que pour les banques dont les échéances de financement sont plus courtes. Le deuxième chapitre étudie l'impact de la communalité des actifs sur le risque systémique à différents degrés de mise en œuvre des politiques macroprudentielles sur la base d'un échantillon transnational. L'objectif premier de la politique macroprudentielle est de réduire l'exposition des banques au risque systémique découlant d'une croissance excessive du crédit, de défaillances corrélées et d'autres expositions communes. Toutefois, la mise en œuvre de ces politiques peut contribuer involontairement à une augmentation des avoirs communs des banques qui tentent de mettre en œuvre des stratégies de transfert des risques. Les résultats indiquent que les actifs communs augmentent l'exposition au risque systémique lorsque les politiques macroprudentielles ciblées sur les quantités et les institutions financières sont mises en œuvre à un niveau plus élevé. Cela se produit lorsque les banques déplacent leurs risques vers différentes catégories d'actifs ou de portefeuilles, ce qui accroît leur vulnérabilité au risque systémique. Le troisième chapitre examine l'impact de la similitude du comportement environnemental des banques sur le risque systémique à partir d'un échantillon transnational. Nos résultats révèlent que la similitude du comportement environnemental des banques est positivement associée au risque systémique lorsque l'indice de politique environnementale est faible. De même, dans le cas d'une politique macroprudentielle peu écologique, la similitude du comportement environnemental des banques est associée à un risque systémique plus élevéThis thesis analyzes the impact of bank asset commonality on systemic risk. This study examines the impact of asset portfolio overlap on systemic risk in large U.S. BHCs. Results reveal a U-shaped relationship between asset commonality, individual probability of default, and systemic risk among banks. Lower asset commonality is linked to reduced risk, while higher commonality is detrimental to financial stability. Investigating liquid and illiquid assets confirms the U-shaped relationship. Our results further emphasize the importance of maintaining low asset commonality for financial stability during normal and crisis periods, as well as for banks with shorter funding maturities. The second chapter studies the impact of asset commonality on systemic risk under varying degrees of implementation of macroprudential policies using a cross-country sample. The primary objective of macroprudential policy is to reduce bank’s exposure to systemic risk arising from excessive credit growth, correlated failures, and other common exposures. However, the implementation of such policies may inadvertently contribute to an increase in bank common holdings as they attempt to engage in risk-shifting strategies. The findings indicate that asset commonality increases exposure to systemic risk under higher implementation of quantity and financial institution-targeted macroprudential policies. This occurs as banks shift their risks to different asset classes or portfolios, consequently elevating their vulnerability to systemic risk. The third chapter examines the impact of the similarity of banks environmental behavior on systemic risk using a cross-country sample.The findings indicate a U-shaped relationship between the similarity of bank environmental behavior and systemic risk among banks. Our result reveals that the similarity of banks environmental behavior is positively associated with systemic risk under a low environmental policy index. Also, under a low green macroprudential policy, the commonality of banks environmental behavior is associated with higher systemic risk
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Hull, John Andrew 1974. "The identification of gaps and overlaps in the product portfolio." Thesis, Massachusetts Institute of Technology, 1999. http://hdl.handle.net/1721.1/9347.
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering, 1999.Includes bibliographical references (p. 139-140).
In product development organizations, the front end of product development is usually confined to planning within business units for product families and individual products. This can pose a problem for businesses, as individual business units and development teams do not think in terms of the big picture of the company. Business units are responsible for only their market and product strategies, and are relatively unconcerned about those of other business units. Because of this, there is the potential for product offerings across business units to overlap in the marketplace, thereby wasting development resources and confusing customers with multiple offerings of similar value propositions. There is also the potential to have gaps in the marketplace, where no business units have product offerings, which can be a prime niche for competitors to introduce products to gain a market foothold and precious market share. The purpose of this research was to "extend" the front end of the development process upward across all business units in order to understand the market relationships across the entire product-offering portfolio. This allows the company to see how its products are related across markets, and to observe the strengths and weaknesses in il'> competitive positions. The result is a better understanding of which markets and products should be prioritized when making investment decisions. This thesis develops and discusses several concepts and tools, namely those of the Core Benefit Proposition and Vector of Differentiation, that are necessary in order to identify the gaps and overlaps within a product portfolio. A basic approach was developed that combines these concepts and tools into a framework for identifying gaps and overlaps. This approach was then applied and demonstrated with a case study involving the product portfolio of the Xerox Company.
by John Andrew Hull.
S.M.
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Scheuer, Joseph L. "Growing Earnings Response Coefficients: Are analysts getting smarter, or are investors getting lazy?" Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2251.
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This paper investigates a potential cause of the observed growth in the magnitude of earnings response coefficients over time since 2001. I hypothesize that the growth is explained by increasing investor reliance on Wall Street analyst earnings per share (“EPS”) estimates to form their next-period EPS expectations. To test my hypothesis, I regress 3-day cumulative abnormal market returns following earnings announcements on an interaction term between the earnings surprise and the number of analyst EPS estimates along with several control variables. I ultimately find no evidence of increasing investor reliance on Wall Street analyst estimates. Furthermore, I fail to replicate the results of prior literature that found an upward trend in earnings response coefficients over time from 2001 to 2011. These contradictory results merit further investigation in future research.
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Assis, Maria Valéria Gonçalves de. "Planejamento do portfólio de produtos : uma abordagem a partir da compreensão da experiência de escolha do usuário frente à diversidade de alternativas." Universidade do Vale do Rio dos Sinos, 2013. http://www.repositorio.jesuita.org.br/handle/UNISINOS/3738.
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A sobrecarga de escolha é um fenômeno que trata das consequências da diversidade de opções na experiência de escolha do usuário. Pesquisas mostram que o aumento do número de opções causa consequências adversas à experiência de escolha, como diminuição do prazer e da satisfação com a escolha. Com base no mercado de venda direta de higiene e beleza, buscou-se compreender a experiência de escolha do usuário frente à diversidade de alternativas de produtos do segmento, como shampoo, condicionador e sabonete líquido. Dois experimentos foram realizados para entender a experiência do usuário: no primeiro (n=103) a quantidade de produtos foi manipulada através de diferentes cores; e, no segundo (n=96), a quantidade foi manipulada utilizando diferentes formas de embalagens. Ainda, um survey (n=101) foi aplicado para compreender alguns hábitos e preferências do consumidor de higiene e beleza. Como resultado destas pesquisas, foi encontrado o contrário do que apontam as pesquisas na área de sobrecarga de escolha: os usuários suportam a quantidade de opções (50% acima da média do mercado) e têm preferência por produtos específicos para seu uso. Os resultados obtidos, sobre a experiência de escolha do consumidor de higiene e beleza, dão subsídios para o planejamento de portfólio de produtos no segmento, um elemento estratégico do sistema-produto de uma empresa, na perspectiva do design estratégico. O planejamento de portfólio de produtos, com base na experiência de escolha do usuário, auxilia a tornar a experiência de compra positiva para o consumidor, ao mesmo tempo em que beneficia o produtor.
Choice overload is an effect related to great variety of options in user's choice experience. Other research efforts have shown that, when the number of options is increased, there occur adverse consequences to choice experience, such as decreased pleasure and decreased satisfaction. Based on the direct sale market for hygiene and beauty products, our aim was to understand user choice experience in relation to diversity of product alternatives for the shampoo, conditioner and liquid soap segments. Two experiments were conducted to understand user experience: in the first one (n = 103), the amount of products was manipulated through different colors; in the second one (n = 96), the amount was manipulated using different types of packaging. A survey (n = 101) was also applied to understand some habits and consumer preferences for hygiene and beauty products. As a result, it was found the opposite of other research efforts on choice overload: users support the amount of options (50% above the market average) and have a preference for specific products for their use. The results obtained on the consumer choice experience for the hygiene and beauty segment provide a basis for planning of product portfolios on this segment, a strategic product-system element of a company from the strategic design perspective. Planning the product portfolio based on user's choice experience helps creating a positive shopping experience for consumer and benefits the producer.
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Combier, Robert. "Risk-informed scenario-based technology and manufacturing evaluation of aircraft systems." Diss., Georgia Institute of Technology, 2013. http://hdl.handle.net/1853/49046.
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In the last half century, the aerospace industry has seen a dramatic paradigm shift from a focus on performance-at-any-cost to product economics and value. The steady increase in product requirements, complexity and global competition has driven aircraft manufacturers to seek broad portfolios of advanced technologies. The development costs and cycle times of these technologies vary widely, and the resulting design environment is one where decisions must be made under substantial uncertainty. Modeling and simulation have recently become the standard practice for addressing these issues; detailed simulations and explorations of candidate future states of these systems help reduce a complex design problem into a comprehensible, manageable form where decision factors are prioritized. While there are still fundamental criticisms about using modeling and simulation, the emerging challenge becomes ``How do you best configure uncertainty analyses and the information they produce to address real world problems?”
One such analysis approach was developed in this thesis by structuring the input, models, and output to answer questions about the risk and economic impact of technology decisions in future aircraft programs. Unlike other methods, this method placed emphasis on the uncertainty in the cumulative cashflow space as the integrator of economic viability. From this perspective, it then focused on exploration of the design and technology space to tailor the business case and its associated risk in the cash flow dimension. The methodology is called CASSANDRA and is intended to be executed by a program manager of a manufacturer working of the development of future concepts. The program manager has the ability to control design elements as well as the new technology allocation on that aircraft. She is also responsible for the elicitation of the uncertainty in those dimensions within control as well as the external scenarios (that are out of program control). The methodology was applied on a future single-aisle 150 passenger aircraft design.
The overall methodology is compared to existing approaches and is shown to identify more economically robust design decisions under a set of at-risk program scenarios. Additionally, a set of metrics in the uncertain cumulative cashflow space were developed to assist the methodology user in the identification, evaluation, and selection of design and technology. These metrics are compared to alternate approaches and are shown to better identify risk efficient design and technology selections.
At the modeling level, an approach is given to estimate the production quantity based on an enhanced Overall Evaluation Criterion method that captures the competitive advantage of the aircraft design. This model was needed as the assumption of production quantity is highly influential to the business case risk. Finally, the research explored the capacity to generate risk mitigation strategies in to two analysis configurations: when available data and simulation capacity are abundant, and when they are sparse or incomplete. The first configuration leverages structured filtration of Monte Carlo simulation results. The allocation of design and technology risk is then identified on the Pareto Frontier. The second configuration identifies the direction of robust risk mitigation based on the available data and limited simulation ability. It leverages a linearized approximation of the cashflow metrics and identifies the direction of allocation using the Jacobian matrix and its inversion.
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Guedes, Isabel Maria De Almeida Costa Nobre. "Cercica portfolio revision and transformation plan section 1:context and section 6: overall Impact." Master's thesis, 2021. http://hdl.handle.net/10362/123800.
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The objective of this chapte rwas to define the scope of the analysis and conclude the overall impact of the given recommendationsonCercica’s2019 negative operational margin. The scope was defined by analyzing (1) the pain points that should be investigated, through an online survey and interviews, and (2) the BUs that have been underperforming, considering financial statements and documents granted by the organization. The highlighted pain points included topics on Financial Resources, Human Resources and Strategy. Investigation on Cercica’s operational performance led to the selection of5 Bus. Recommendations were given to explore the areas of improvement, rising the negative operational margin to stand between 0.2%-2.8%.Moreover, general recommendations were also manifested to intervene on the areas of continuous improvement considered within the scope.
Books on the topic "Portfolio overlap"
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hnholz, Dirk So. Asset Allocation, Risiko-Overlay und Manager-Selektion: Das Diversifikationsbuch. Wiesbaden: Gabler, 2010.
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Filbeck, Aaron. Issues in Benchmarking Commodity Performance. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780190656010.003.0017.
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Commodity investments have continued to gain traction in diversified portfolios since the 1990s. Historically low correlations relative to traditional asset classes, different fundamental drivers, and investor demand for alternative sources of return have brought commodity investments forward as a solution that provides overall portfolio diversification while maintaining similar long-term return streams. A large inflow of institutional investors and noncommercial traders has increased demand and lowered barriers to entry. Many of these investors simply want exposure to commodities as an asset class, often investing in index funds or exchange-traded funds (ETFs). In some cases, investors assume that the underlying commodity indexes that these investment vehicles track represent appropriate benchmarks asset class performance. In reality, the many different commodity indexes available make benchmarking asset class performance more difficult.
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McCahery, Joseph A., and F. Alexander de Roode. Co-Investments of Sovereign Wealth Funds in Private Equity. Edited by Douglas Cumming, Geoffrey Wood, Igor Filatotchev, and Juliane Reinecke. Oxford University Press, 2017. http://dx.doi.org/10.1093/oxfordhb/9780198754800.013.5.
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Direct investments are the preferred vehicle for large institutional investors to have control over their portfolio investments. This chapter studies the deal structure of direct investments by sovereign wealth funds (SWFs) in private equity transactions. Its analyses of direct investments are based on data from Global Corporate Venturing. It finds that SWFs shift from investing in private equity funds to originating and co-investing together with private equity funds in deals. The choice for co-investment affects deal size, risk-bearing, fees and returns. Overall, results of research conducted for this chapter show the strong interest of SWFs in direct investments in developed markets.
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Milliken, Christopher. Commodity Exchange-Traded Funds. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780190656010.003.0013.
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Commodity exchange-traded funds (ETCs), which debuted in 2004, enable investors to access an asset class previously difficult or expensive to access. Although a small segment of the overall exchange-traded fund (ETF) universe, ETCs have grown in popularity with both speculators and investors looking for long-term portfolio diversification. Examples of the types of commodities that are now accessible through ETCs include gold, oil, and agricultural. The literature on ETCs is limited, but academic and industry work has centered on using futures contracts to replicate the performance of the underlying commodities spot price as well as the effect additional capital has had on the integrity of the futures market. This chapter covers this topic by reviewing the growth, investment strategies, and regulatory structure of ETCs as well as the underlying effects these funds have had on the underlying markets with which they engage.
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Samset, Knut, and Gro Holst Volden. Quality Assurance in Megaproject Management. Edited by Bent Flyvbjerg. Oxford University Press, 2017. http://dx.doi.org/10.1093/oxfordhb/9780198732242.013.17.
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This chapter discusses the Norwegian governance regime for public megaprojects and the lessons learned. Governance regimes for major public investment projects comprise the processes and systems which the financing party must implement to ensure a successful investment. Such regimes typically include a regulatory framework, compliance with agreed objectives, and sound management and resolution of issues that may arise. The challenges in securing quality at entry include identification of a conceptual solution that is economically viable and relevant with respect to the needs and often conflicting priorities in society, avoiding underestimating costs, overestimating utility and making unrealistic and inconsistent assumptions, and securing essential planning data and adequate contract regimes. The Norwegian regime involves external quality assurance of key decision documents, and has given the government greater control over the total cost of its investment project portfolio. It also ensures that decisions regarding the choice of conceptual solution are based on a broad assessment of overall needs and goals, as well as alternative ways of achieving these goals.
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Auleta, Oreste, and Filippo Stefanini. Directional Equity Strategies of Hedge Funds. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780190607371.003.0011.
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This chapter discusses three directional hedge fund strategies: long/short equity, short only, and equity market neutral. These strategies rely on different types of positions that are enumerated and explained using trade examples. A key feature of funds implementing directional strategies is the market exposure best described by gross exposure and beta-adjusted net exposure. In long/short equity funds, money managers often use yield enhancement strategies based on option overlays. A review of different management styles explicates the heterogeneity of hedge funds and liquid alternatives that implement the long/short equity strategy. Analysis of portfolio diversification highlights why equity market-neutral funds have more holdings than long/short equity funds. For equity market-neutral funds, the chapter highlights a link between the fund’s correlation with the market and its beta: low beta does not imply that it has a low correlation with the market. The chapter provides a theoretical discussion with some real fund examples.
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Taylor-Robinson, Michelle M., and Meredith P. Gleitz. Women in Presidential Cabinets. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780190851224.003.0003.
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Michelle M. Taylor-Robinson and Meredith P. Gleitz show that the overall representation of women in cabinets has increased significantly since the democratic transition, but women and men tend to be represented in stereotypically gendered cabinet portfolios and women who get appointed look like men in experience, backgrounds, and other qualifications. They identify the main causes of the increase in women’s presence in cabinets as the recent political crises that have led to outsider, leftist, and female (to only a very small degree) presidents who select more women. Additionally, as women are getting more represented in national legislatures and subnational governments, they are more represented in cabinets. The consequences of greater gender balance in cabinets for women’s issues and gender equality programs are minimal. Female cabinet ministers find it difficult to promote women’s issues because they are often in posts with little access to resources or need to implement the president’s priorities instead.
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Lawless, Robert E. The Student’s Guide to Financial Literacy. ABC-CLIO, LLC, 2010. http://dx.doi.org/10.5040/9798216020615.
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Presenting a broad array of financial knowledge, this interesting, easily understandable book will aid students and young adults in achieving their desired levels of wealth, success, and overall financial and personal fulfillment. The recent global financial crisis was caused, at least in part, by the financial ignorance of many consumers. Many students and young adults in particular have never been taught the basics of financial planning. Yet, the earlier people move from financial illiteracy to literacy, the greater the benefits that will accumulate over time. As The Student’s Guide to Financial Literacy makes clear, practices adopted in the early years of adulthood can have the most dramatic effect on a person's ultimate quality of life, level of success, and age of retirement. This book is designed to convey financial wisdom in terms that are easy to understand with suggestions that are easy to apply. Readers will learn about the importance of budgeting and saving, the compounding of money, and how to create a diversified portfolio of investments. Included is advice on buying a first home, the characteristics of good debt versus bad debt, insurance and tax planning, even choosing the right career.
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Baker, H. Kent, Greg Filbeck, and Jeffrey H. Harris, eds. Commodities. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780190656010.001.0001.
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In today’s dynamic financial environment, commodity markets can be accessed with products that create unique risk and return dynamics for investors worldwide. Commodities: Markets, Performance, and Strategies provides a comprehensive view of commodity markets, describing historical commodity performance, vehicles for investing in commodities, portfolio strategies, and current topics. The book begins with the rudiments of commodity markets and how investors gain exposure to commodity returns through various investment vehicles. It then highlights the unique risk and return profiles of commodity investments set in the global marketplace among more traditional investments. In this context, the book examines the use of commodity markets to manage risk, highlighting recent blowups that result from mismanaged risk practices. It also provides important insights about current topics, including high frequency trading, financialization, and the emergence of virtual currencies as commodities. The book balances useful practical advice on commodity exposure while introducing the reader to various pitfalls inherent in these markets. Readers interested in a basic understanding will benefit as will those looking for more in-depth presentations of specific areas within commodity markets. Overall, Commodities: Markets, Performance, and Strategies provides a fresh look at the myriad dimensions of investing in these globally important markets from experts from around the world.
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Cooper, Mark. The Political Economy of Electricity. ABC-CLIO, LLC, 2017. http://dx.doi.org/10.5040/9798400697944.
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Providing critical insights that will interest readers ranging from economists to environmentalists, policymakers, and politicians, this book analyzes the economics and technology trends involved in the dilemma of decarbonization and addresses why aggressive policy is required in a capitalist political economy to create a sea change away from fossil fuels. The environmental damage across the globe is a result of the success of capitalist industrialism—250 years of carbon pollution resulting from consumption of fossil fuels to drive the economy and the worldwide aspiration to ever-increasing levels of economic development. But capitalism has also produced the tools to solve the problems it has created in the form of a technological revolution in low-carbon renewables, distributed resources, and intelligent systems to integrate supply and demand. This book comprehensively examines the political economy of electricity and analyzes the challenge of transforming today’s electricity sector to meet the dual goals of decarbonization and development expressed in the Paris Agreement. Author Mark Cooper defines the dilemma of development and decarbonization as the great challenge facing the electricity industry and documents how the economic resources costs of a 100 percent-renewable portfolio has declined to the point that decarbonization can pay for itself, making the low-carbon renewable technologies that enable desired environmental and public-health benefits an easy sell. He identifies the substantial benefit of increasing use of information, communications, and advanced control technologies; shows how targeted innovation could speed the transition by a decade or two and lower the overall cost of the transition by as much as half; and explains why the flexible, multi-stakeholder approach of the Paris Agreement is the correct approach.
Book chapters on the topic "Portfolio overlap"
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Söhnholz, Dirk, Sascha Rieken, and Dieter G. Kaiser. "Portfolio-Optimierung." In Asset Allocation, Risiko-Overlay und Manager-Selektion, 73–98. Wiesbaden: Springer Fachmedien Wiesbaden, 2010. http://dx.doi.org/10.1007/978-3-8349-6315-4_3.
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Söhnholz, Dirk, Sascha Rieken, and Dieter G. Kaiser. "Ideal-Portfolio und Implementierungsrestriktionen." In Asset Allocation, Risiko-Overlay und Manager-Selektion, 187–94. Wiesbaden: Springer Fachmedien Wiesbaden, 2010. http://dx.doi.org/10.1007/978-3-8349-6315-4_7.
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Adesi, Giovanni Barone, and Nicola Carcano. "Overall Conclusion." In Modern Multi-Factor Analysis of Bond Portfolios: Critical Implications for Hedging and Investing, 111–14. London: Palgrave Macmillan UK, 2016. http://dx.doi.org/10.1007/978-1-137-56486-3_6.
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Curry, Edward, Andreas Metzger, Arne J. Berre, Andrés Monzón, and Alessandra Boggio-Marzet. "A Reference Model for Big Data Technologies." In The Elements of Big Data Value, 127–51. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-68176-0_6.
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AbstractThe Big Data Value (BDV) Reference Model has been developed with input from technical experts and stakeholders along the whole big data value chain. The BDV Reference Model may serve as a common reference framework to locate big data technologies on the overall IT stack. It addresses the main technical concerns and aspects to be considered for big data value systems. The BDV Reference Model enables the mapping of existing and future data technologies within a common framework. Within this chapter, we detail the reference model in more detail and show how it can be used to manage a portfolio of research and innovation projects.
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MacPherson, Ronnie, Amy Jersild, Dennis Bours, and Caroline Holo. "Assessing the Evaluability of Adaptation-Focused Interventions: Lessons from the Adaptation Fund." In Transformational Change for People and the Planet, 173–86. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-78853-7_12.
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AbstractEvaluability assessments (EAs) have differing definitions, focus on various aspects of evaluation, and have been implemented inconsistently in the last several decades. Climate change adaptation (CCA) programming presents particular challenges for evaluation given shifting baselines, variable time horizons, adaptation as a moving target, and uncertainty inherent to climate change and its extreme and varied effects. The Adaptation Fund Technical Evaluation Reference Group (AF-TERG) developed a framework to assess the extent to which the Fund’s portfolio of projects has in place structures, processes, and resources capable of supporting credible and useful monitoring, evaluation, and learning (MEL). The framework was applied on the entire project portfolio to determine the level of evaluability and make recommendations for improvement. This chapter explores the assessment’s findings on designing programs and projects to help minimize the essential challenges in the field. It discusses how the process of EA can help identify opportunities for strengthening both evaluability and a project’s MEL more broadly. A key conclusion was that the strength and quality of a project’s overall approach to MEL is a major determinant of a project’s evaluability. Although the framework was used retroactively, EAs could also be used prospectively as quality assurance tools at the pre-implementation stage.
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Stettina, Christoph Johann, Victor van Els, Job Croonenberg, and Joost Visser. "The Impact of Agile Transformations on Organizational Performance: A Survey of Teams, Programs and Portfolios." In Lecture Notes in Business Information Processing, 86–102. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-78098-2_6.
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AbstractWhile many organizations embark on agile transformations, they can lack insight into the actual impact of these transformations across organizational layers. In this paper, we collect new and study existing evidence on the impact of agile transformations on organizational performance across teams, programs and portfolios. We conducted an international survey collecting the perceptions of agile coaches, transformation leads and other relevant roles, and we correlated levels of agile maturity to the perceptions on dimensions of organizational performance. Based on 134 responses from 29 countries across 16 industries, (1) we consolidated understanding of the benefits of agile transformations based on prior evidence and our data from a more diverse and larger sample, (2) we identified the dimensions impacted by agile transformations as being productivity, responsiveness, quality, workflow health and employee satisfaction & engagement and (3) we traced specific benefits on those dimensions to individual organizational layers of teams, programs and portfolios, showing the magnitude of impact of each dimension per layer. Overall, we can conclude that agile transformations have a variety of strong organizational benefits. This aggregated evidence allows reflection on transformation trends, but also enables organizations to optimize their agile transformation efforts.
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Bansal, Jagdish Chand, Prathu Bajpai, Anjali Rawat, and Atulya K. Nagar. "Sine Cosine Algorithm for Multi-objective Optimization." In Sine Cosine Algorithm for Optimization, 35–63. Singapore: Springer Nature Singapore, 2023. http://dx.doi.org/10.1007/978-981-19-9722-8_3.
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AbstractIn many real-world situations, we have to deal with multiple objectives simultaneously in order to make appropriate decisions. The presence of multiple objectives in an optimization problem makes the problem challenging because most of the time these objectives are conflicting in nature. For example, we may want to maximize the return on investment of a portfolio and, on the other hand, minimize the risk associated with the assets in the portfolio. We may want to minimize the cost of a product while maximizing the performance of that particular product. Similarly, there are situations where we may want to maximize more than one objective at a time and minimize multiple objectives for a given optimization problem. For instance, a product manager in an XYZ mobile manufacturing company is supervising the launch of a new smartphone in the market. He/she will have to consider many features and configurations of the smartphone before launching. He/she might have to consider features like the screen resolution, size of the screen, thickness of the phone, camera resolution, battery life, operating system, and even aesthetics of the product. On the other hand, he/she might also want to minimize the amount of labor, time of production, and overall cost associated with the project. He/she knows that the objectives, in this case, are conflicting, and simultaneously achieving every objective in not possible. The solution to this dilemma is to look for some trade-off solutions so that the main motive of the problem can be served.
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Fernández, Eduardo, Efrain Solares, Carlos A. Coello Coello, and Victor De-León-Gómez. "An Overall Characterization of the Project Portfolio Optimization Problem and an Approach Based on Evolutionary Algorithms to Address It." In Adaptation, Learning, and Optimization, 65–88. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-88315-7_4.
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Szturz, Petr, and Jan B. Vermorken. "Systemic Treatment Sequencing and Prediction of First-line Therapy Outcomes in Recurrent or Metastatic Head and Neck Cancer." In Critical Issues in Head and Neck Oncology, 199–215. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-23175-9_13.
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AbstractIn the palliative management of patients with recurrent and/or metastatic squamous cell carcinoma of the head and neck who are not candidates for a complete resection or full-dose radiotherapy, systemic treatment has seen important advances over the past several decades. In general, there are six major factors impacting on the decision-making process. Four of them belong to a class of continuous functions and include overall health status (from fitness to frailty), disease burden (from high to low), pace of the disease (from fast to slow), and expression of programmed-death ligand 1 (PD-L1, from high to low). In addition, there are two categorical variables including disease site (e.g., locoregional recurrence versus metastatic) and platinum-sensitivity or resistance depending on disease-free interval after previous platinum-based therapy with a usual cut-off of 6 months. Taking into account these six factors and local drug policies, healthcare professionals opt either for 1) chemotherapy with or without cetuximab or 2) immunotherapy with or without chemotherapy. In platinum-sensitive cases, level I evidence based on data from the EXTREME and Keynote-048 randomized trials supports the use of the following three regimens. Biochemotherapy combining platinum, 5-fluorouracil, and cetuximab (the so-called EXTREME regimen) is suitable for fit patients with low PD-L1 expression measured as combined positive score (CPS). Higher CPS is predictive for improved overall survival when replacing cetuximab with the immune checkpoint inhibitor pembrolizumab, an anti-PD-1 antibody (immunochemotherapy regimen). Further, Keynote-048 demonstrated activity of single-agent pembrolizumab in patients with high CPS values. The latter (third) treatment retained its efficacy in the elderly, suggesting possible advantage in less fit patients who otherwise receive best supportive care only or single-agent cytotoxic chemotherapy with dubious impact on survival. In selected patients, the TPEx regimen consisting of cisplatin, docetaxel, and cetuximab represents an alternative to EXTREME. Treatment choice can also be influenced by disease extension (site). Compared with disseminated cancer cases, presence of locoregional recurrence without distant metastases may have a negative predictive value for immune checkpoint inhibitors, while favouring biochemotherapy. If the tumour is deemed platinum-resistant, the only evidence-based systemic approach is monotherapy with either pembrolizumab or nivolumab, another anti-PD-1 antibody. Alternatively, being especially pertinent to resource-limited countries, a taxane with or without cetuximab can be prioritized. Obviously, the list of different treatment schedules is longer, but the level of supporting evidence is proportionally lower. One of modern approaches to multidisciplinary management of SCCHN patients is treatment sequencing. It should be understood as a deliberate process of treatment planning typically starting in the locally advanced setting and reaching beyond several treatment failures. This has been enabled by a growing portfolio of effective anticancer modalities complemented by progress in supportive care. Finally, all therapeutic interventions impact somehow on quality of life, either in a positive or negative way, and the choice of anticancer agents should therefore not be reduced to a simple estimate of survival benefit but should contain an adequate appraisal and understanding of individual patient’s situation comprising emotional and spiritual dimensions, cultural and financial aspects, and environmental, social, and educational contexts.
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"CLO Portfolio Overlap." In Leveraged Finance, 133–57. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2011. http://dx.doi.org/10.1002/9781118258354.ch6.
Full textConference papers on the topic "Portfolio overlap"
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Dal Molim, Thales F., and Francisco Carlos M. Souza. "Multistage, Multiswarm Particle Swarm Optimization for Investment Portfolio Selection." In Brazilian Workshop on Artificial Intelligence in Finance. Sociedade Brasileira de Computação, 2023. http://dx.doi.org/10.5753/bwaif.2023.230652.
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This study proposes a new metaheuristic-based approach, identified in the literature as MS2PSO, to solve the problem of investment portfolio selection in the Brazilian stock market. The study was divided into two experiments that evaluated the quality of the solutions obtained by the algorithm and the effectiveness of the recommended portfolios in different time windows and risk profiles. The results indicated that MS2PSO presented slower convergence but offered more satisfactory results compared to PSO. In addition, the portfolios recommended by the proposed method showed positive and negative performances according to the risk profile, and all of them outperformed the benchmark in terms of the overall highest gain obtained during the period. This study contributes to the development of the area of finance and economics by providing a sophisticated and efficient solution for investment portfolio selection.
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Antonova, Daria, Arvind Krishnamurthy, Zheng Ma, and Ravi Sundaram. "Managing a portfolio of overlay paths." In the 14th international workshop. New York, New York, USA: ACM Press, 2004. http://dx.doi.org/10.1145/1005847.1005856.
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de Weck, Olivier L., Eun Suk Suh, and David Chang. "Product Family and Platform Portfolio Optimization." In ASME 2003 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. ASMEDC, 2003. http://dx.doi.org/10.1115/detc2003/dac-48721.
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In this paper, a methodology is presented to determine the optimum number of product platforms to maximize overall product family profit with simplifying assumptions. This methodology is attempting to aid various manufacturing industries who are seeking ways to reduce product family manufacturing costs and development times through implementation of platform strategies. The methodology is based on a target market segment analysis, market leader’s performance vs. price position, and a two-level optimization approach for platform and variant designs. The proposed methodology is demonstrated for a hypothetical automotive vehicle family that attempts to serve seven different vehicle market segments. It is found that the use of three distinct platforms maximizes overall profit by pursuing primarily a horizontal leveraging strategy.
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Miller, Patrick, Darcy Redpath, and Keane Dauncey. "No Reservoir Model? No Problem. Unconventional Well Spacing Optimization With Simple Tools." In SPE Canadian Energy Technology Conference. SPE, 2022. http://dx.doi.org/10.2118/208882-ms.
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Abstract Optimizing economics for unconventional resource development is a delicate balance among four main factors: reservoir deliverability, commodity price, completion design, and well spacing. For a certain reservoir, commodity price, and completion design, there is a well spacing that will optimize field development net present value (NPV). However, if we consider a different part of the reservoir (area or landing zone), commodity price, or completion design, that optimal well spacing changes. Given that this problem is fraught with uncertainty (in price, reservoir deliverability, and the impact on production of changing completion design or well spacing), we need simple, flexible tools to make better decisions about unconventional pad design. From a technical perspective, teams of subsurface professionals strive to understand the relationship between well productivity and well spacing for a given completion design (or vice versa). If the well spacing is too tight relative to the size of fracture stimulation, the recovery factor will be high, but the development plan will be over-capitalized. If the well spacing is too wide relative to the fracture stimulation, the per-well recovery will be high, but too much resource will be left in the ground and the NPV of the development plan will be low. To search for the optimal pad design, operators often invest in integrated technical workflows with multi-well fracture modeling and reservoir simulation; although useful, these workflows are not practical to apply for every asset in a portfolio because they simply take too long. As an alternative approach, this paper builds on existing tools in the literature to quantify the impact of changing well spacing on well productivity for a given completion design, using a new, simple, intuitive empirical equation. Using real data from the Permian basin, this paper applies the empirical equation to model the relationship between well performance and well spacing, and quantify uncertainty in that relationship. By linking this equation with a simple economic model, the paper shows how to make appropriate well spacing decisions under uncertainty, and how those decisions would change due to changes in reservoir deliverability or commodity price. Compared to similar methods in the literature, this approach better captures the physics associated with overlap in drainage areas for adjacent unconventional wells, while maintaining simplicity and ease of implementation. The paper also discusses how to integrate various diagnostics that give information about fracture geometry, to help guide the bounds of uncertainty in the well performance relationship. Even with limited data, this approach can be applied to yield useful information for decision makers about how to adjust unconventional pad design to improve development plan economics.
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Ihar, Dzeraviaha, Chunyu Xie, and Ziyu Shao. "Assessing the efficiency of green investments based on portfolio approach." In Sustainable and Innovative Development in the Global Digital Age. Dela Press Publishing House, 2022. http://dx.doi.org/10.56199/dpcsebm.qpbd3352.
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Green finance plays a critical role for achieving sustainable development goals. Scaling up green investments and increasing their efficiency requires addressing a number of methodological and practical problems. One of these is a problem of efficiency evaluation. The approach to assessing green investments efficiency proposed in the paper is based on the investment portfolio model. Its application makes it possible to assess green investments with regard for their principal impact on the investment portfolio quality rather than on the basis of actual results of environmental projects. The proposed methodology makes it possible to derive an acceptable rate of return on green investments for inclusion in the investment portfolio, as grounded on the identification of alternative ways to achieve environmental objectives. Using the example of forest cultivation, an algorithm is presented for estimating the guaranteed return proceeding from natural productivity, which can be used to evaluate the acceptable efficiency of investment in both forestry and alternative projects that aim at reduction of greenhouse gas concentration and development of sustainable power engineering. Even in case of low return, green investments can be financially attractive if they contribute to reducing the investment portfolio risks. The usefulness of the proposed approach depends on completeness of accounting the investment projects’ environmental risk in overall market risk evaluation.
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Melchert, Elena Subia, and Roy Clayton Long. "Technologies for Advancing Offshore Enhanced Oil Recovery Capabilities." In Offshore Technology Conference. OTC, 2021. http://dx.doi.org/10.4043/31227-ms.
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Abstract Last year the Department of Energy (DOE) presented a description of the expansion of its research portfolio from one focused on research primarily for onshore applications to one that includes projects specifically for offshore application. That paper (OTC - 30469-MS) also included key research results for the portfolio beginning with projects initiated in 2007. This paper follows on that theme and presents an overview of the Department's current research portfolio focusing on recent-past learnings, current learnings, and research gaps identified from the projects in the current research portfolio 2017-2023. Discussion includes projects that are sponsored by the Department as part of its public-private partnerships with principal investigators from industry and academia, and those projects sponsored by the Department at its National Laboratories. The discussion also includes an overview of activities and projects jointly pursued by DOE and the Department of the Interior's Bureau of Safety and Environmental Enforcement (BSEE) pursuant to the July 2020 Memorandum of Collaboration signed by both agencies. Major insights presented in this paper focus on innovative mid-Technology Readiness Level (mid-TRL) technologies that will enable cost-effective enhanced oil recovery in deepwater and ultra-deepwater including insights for cement and wellbore integrity, flow assurance, life extension of offshore platforms and risers, sensors and telecommunications, early kick detection, chemical delivery, data analytics involving big data sets and modeling, and advanced sensors for EOR operations. Many of the projects reviewed in this paper are part of the portfolio of projects that are sponsored by the Department at the National Laboratories while at the same time includes projects that are cost-shared with private sector and research partners in academia. The breadth of the portfolio illustrates the overall approach of the offshore research portfolio especially for enhanced oil recovery. Recently the National Petroleum Council completed a study for the Secretary of Energy titled Meeting the Dual Challenge: A roadmap to at-scale deployment of carbon capture, use, and storage in which the potential for the use and potential long-term storage of CO2 used in enhanced oil recovery is considered for both onshore and offshore settings (NPC 2019).
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Schroeder, Andreas. "An electricity market model with generation capacity expansion under uncertainty." In International Workshop of "Stochastic Programming for Implementation and Advanced Applications". The Association of Lithuanian Serials, 2012. http://dx.doi.org/10.5200/stoprog.2012.19.
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This article presents an electricity dispatch model with endogenous electricity generation capacity expansion for Germany over the horizon 2035. The target is to quantify how fuel and carbon price risk impacts investment incentives of thermal power plants. Results point to findings which are in line with general theory: Accounting for stochasticity increases investment levels overall and the investment portfolio tends to be more diverse.
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Yeter, Baran, Yordan Garbatov, and Carlos Guedes Soares. "Optimal Management of Offshore Wind Assets at Different Stages of Life Extension Accounting for Uncertainty Propagation." In ASME 2022 41st International Conference on Ocean, Offshore and Arctic Engineering. American Society of Mechanical Engineers, 2022. http://dx.doi.org/10.1115/omae2022-78185.
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Abstract The objective of the present study is to develop an optimal life extension management strategy for ageing offshore wind farms. The optimal management strategy is attained by minimising the overall risk of a group of different assets based on the principles of the modern portfolio theory. The statistical measures regarding the risk and expected return are obtained through a probabilistic techno-economic assessment, which considers the mean wind speed, capacity factor, degradation severity, initial crack size and feed-in tariff as stochastic variables. The expected return accounts for the time-weighted incremental free cash flows. The risk and return of the offshore wind farm are investigated under optimistic, moderate, and pessimistic scenarios. Finally, the optimal allocation (portfolio) of offshore wind assets attained based on the mean-variance optimisation is presented for the different stages of the life extension of the offshore wind farms accounting for the uncertainty propagation during the life extension. The uncertainty propagation is reflected in the correlation and variability between the offshore wind turbines and their operation. The results indicate that a significant risk reduction can be achieved by employing an offshore wind asset allocation according to the risk-adjusted portfolio. Also, the benefit of using a risk-adjusted allocation increases as the life extension moves on. The outcome of the present study can be useful for the feature engineering part of the deep neural network training for the classification of ageing offshore wind turbines.
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O'Malley, Gavin, Jeffrey Wishart, Junfeng Zhao, and Brendan Russo. "A Scenario-Based Test Selection and Scoring Methodology for Inclusion in a Safety Case Framework for Automated Vehicles." In WCX SAE World Congress Experience. 400 Commonwealth Drive, Warrendale, PA, United States: SAE International, 2024. http://dx.doi.org/10.4271/2024-01-2644.
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<div class="section abstract"><div class="htmlview paragraph">Effectively determining automated driving system (ADS)-equipped vehicle (AV) safety without relying on testing an infeasibly large number of driving scenarios is a challenge with wide recognition in industry and academia. The following paper builds on previous work by the Institute of Automated Mobility (IAM) and Science Foundation Arizona (SFAz), and proposes a test selection and scoring methodology (TSSM) as part of a safety case-based framework being developed by the SFAz to ensure the safety of AVs while addressing the scenario testing challenge. The TSSM is an AV verification and validation (V&V) process that relies, in part, on iterative, partially random generation of AV driving scenarios. These scenarios are generated using an operational design domain (ODD) and behavioral competency portfolio, which expresses the vehicle ODD and behavioral competencies in terms of quantifiable amounts or intensities of discrete components. Once generated, these scenarios are subjected to filters based on their relevance to the AV ODD and behavioral competency portfolio that preserves the robustness of the generated test set; after filtration, scenarios are assigned to a test method and executed. Further, these scenarios may be generated entirely by the TSSM or may be drawn from a preexisting scenario database and subjected to the same filtration process. After the scenarios assembled by the TSSM are executed, the methodology aggregates their driving assessment (DA) scores into a single numerical value. We outline the overall safety case-based framework, the TSSM, including its role in the framework as well as planned future work, and outline two proofs of concept: (1) a demonstration of the ability of the TSSM to pare down the space of scenarios in a scenario database; and (2) a specification form which may be used to solicit a description of the AV ODD and behavioral competency portfolio from the AV developer.</div></div>
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Latkovska, Evija, and Santa Aleksejeva. "Self-Assessment of English Reading Skills in Grade 6." In 79th International Scientific Conference of University of Latvia. University of Latvia, 2021. http://dx.doi.org/10.22364/htqe.2021.49.
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One of topicalities in the field of education in the 21st century is a necessity to share responsibility. Namely, students should learn to be more responsible for how and what they learn, whereas teachers should learn to share the ownership of the learning process with students, letting them be more involved in it as decision-makers. One way how teachers can encourage students become more conscious of the learning process is to engage them in self-assessment of their learning and learning outcomes. One of self-assessment tools in language education is the European Language Portfolio (the ELP). Apart from different ELPs for adults, there is a portfolio for students in Latvia: My Language Portfolio – The European Language Portfolio for young learners (age 7–12) in the paperback and digital versions. In the present study, the researchers explore how self-assessment can be incorporated in the English language lessons by offering self-assessment activities and the ELP to Grade 6 students to work on their reading skills. Reading skills make the basis for every person’s literacy as reading does not only concern reading itself, it is also about being able to master general knowledge of any other school subject and the world knowledge in general. Thus, the aim of the research is to find out how self-assessment can be used to improve reading skills in English in Grade 6. A case study was carried out for one month in one primary school in Riga, the research sample being two separate groups of Grade 6 students, in total – 26. The researchers analysed and interpreted data collected from assessment and self-assessment of reading activities, questionnaires filled out by students. The main findings of the research show that self-assessment can successfully be incorporated in lessons of English of Grade 6 students as it increases students’ motivation to learn and their reading skills improve. That could be based on the fact that self-assessment allows students to take more ownership of their learning process and learning outcomes, that way making students become more responsible. However, overall progress is not immense and for students who are more competent in English, improvement of their reading skills can barely be traced. It has to be highlighted that students, whose confidence in their English reading skills is lower, benefit from self-assessment more. It could be explained by students’ conscious work on particular problems with reading in English they discover while completing self-assessment activities.
Reports on the topic "Portfolio overlap"
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Romova, Zina, and Martin Andrew. Embedding Learning for Future and Imagined Communities in Portfolio Assessment. Unitec ePress, September 2015. http://dx.doi.org/10.34074/rsrp.42015.
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In tertiary contexts where adults study writing for future academic purposes, teaching and learning via portfolio provides them with multiple opportunities to create and recreate texts characteristic of their future and imagined discourse communities. This paper discusses the value of portfolios as vehicles for rehearsing membership of what Benedict Anderson (1983) called “imagined communities”, a concept applied by such scholars as Yasuko Kanno and Bonny Norton (2003). Portfolios can achieve this process of apprenticeship to a specialist discourse through reproducing texts similar to the authentic artefacts of those discourse communities (Flowerdew, 2000; Hyland, 2003, 2004). We consider the value of multi-drafting, where learners reflect on the learning of a text type characteristic of the students’ future imagined community. We explore Hamp-Lyons and Condon’s belief (2000) that portfolios “critically engage students and teachers in continual discussion, analysis and evaluation of their processes and progress as writers, as reflected in multiple written products” (p.15). Introduced by a discussion of how theoretical perspectives on learning and assessing writing engage with portfolio production, the study presented here outlines a situated pedagogical approach, where students report on their improvement across three portfolio drafts and assess their learning reflectively. A multicultural group of 41 learners enrolled in the degree-level course Academic Writing [AW] at a tertiary institution in New Zealand took part in a study reflecting on this approach to building awareness of one’s own writing. Focus group interviews with a researcher at the final stage of the programme provided qualitative data, which was transcribed and analysed using textual analysis methods (Ryan and Bernard, 2003). Students identified a range of advantages of teaching and learning AW by portfolio. One of the identified benefits was that the selected text types within the programme were perceived as useful to the students’ immediate futures. This careful choice of target genre was reflected in the overall value of the programme for these learners.
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Goldberg, Linda S., and Oliver Hannaoui. Drivers of Dollar Share in Foreign Exchange Reserves. Federal Reserve Bank of New York, March 2024. http://dx.doi.org/10.59576/sr.1087.
Full textAbstract:
The share of U.S. dollar assets in the official foreign exchange reserve portfolios of central banks is sometimes taken as an indicator of dollar status. We show that the observed decline in the aggregate share of U.S. dollar assets does not stem from a systematic shift in currency preferences away from holding dollar assets. Instead, a small group of countries with large foreign exchange reserve balances drive the dollar share decline observed in aggregate statistics. This arises either due to countries conducting monetary policy vis-à-vis the euro or due to preference shifts away from dollars. Regression analysis shows that interest rate differentials between traditional and nontraditional reserve currencies can tilt portfolio composition, particularly in relation to the scale of investment tranches within overall central bank portfolios. Geopolitical distance from the United States and financial sanctions are associated with lower U.S. dollar shares, especially if the primary foreign currency liquidity needs of the central bank are already satisfied.
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Cavallo, Eduardo A., and Eduardo Fernández-Arias. External Crisis Vulnerability in Latin America and the Caribbean. Inter-American Development Bank, July 2023. http://dx.doi.org/10.18235/0005010.
Full textAbstract:
This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement, compared to both advanced and non-advanced economies. When compared to other non-advanced economies, the average LAC economy displays a higher level of vulnerability, mainly due to slower improvements in portfolio composition and less accumulation of international reserves since 2000. Advanced economies have lower exposure to external risk factors and a structural resilience advantage to prevent exposure from leading to crises. This analysis highlights the need for LAC economies to focus more on enhancing their risk-mitigating strategies concerning the composition of their external portfolios and reserves accumulation, which will provide a stronger buffer against external shocks and promote overall economic resilience.
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Schling, Maja, Nicolás Pazos, Leonardo Corral, and Marisol Inurritegui. The Effects of Tenure Security on Women's Empowerment and Food Security: Evidence From a Land Regularization Program in Ecuador. Inter-American Development Bank, December 2023. http://dx.doi.org/10.18235/0005355.
Full textAbstract:
This paper evaluates the impact of a rural land administration program in Ecuador on female empowerment and household food security. Using a double robust estimation that combines the difference-in-difference approach with inverse probability weighting, we explore whether receiving a georeferenced cadastral map of ones parcel provides women with increased bargaining power, empowering them to participate more actively in productive and consumption decision-making that leads to improved diversification of the production portfolio and the households food security. Although we find no significant effects on aggregate levels of empowerment, results show that female beneficiaries became more empowered with regards to access to resources, particularly in terms of applying for and receiving credit. Program participation also significantly affected womens time use, as beneficiary women spent more hours working in non-agricultural activities, investing in their own businesses, and generating off-farm wages. Households who received jointly titled cadastral maps also increased their food security and shifted their production portfolios towards crops and livestock products of both higher market and nutritional value. These results suggest that increasing informal tenure security through cadastral mapping may spur female empowerment, which enables women to increase their bargaining power within the household in order to improve their own and the family's overall welfare.
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Marzani, Matías, Eduardo A. Cavallo, and Eduardo Fernández-Arias. Varieties of Saving and Crises. Inter-American Development Bank, June 2016. http://dx.doi.org/10.18235/0009294.
Full textAbstract:
This paper shows, using probit analysis, that low national savings increase the risk of macroeconomic crisis. Foreign savings are a poor substitute of national savings not only for domestic investment (Feldstein-Horioka result), but also for stability. It is found that deeper financial integration does not cure low investment and can improve the situation only to the extent that the risks of the foreign saving portfolio can be kept under control. Overall, a fundamental conclusion is that strong national savings are key for robust growth. Extending the probit analysis, the paper shows that the composition of foreign assets and liabilities matters substantially for portfolio risk and derives an index to assess the associated country risk.
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Micco, Alejandro, Andrew Powell, and Arturo Galindo. Loyal Lenders or Fickle Financiers: Foreign Banks in Latin America. Inter-American Development Bank, December 2005. http://dx.doi.org/10.18235/0010962.
Full textAbstract:
We suggest that foreign banks may represent a trade-off for their developing country hosts. A portfolio model is developed to show that a more diversified international bank may be one of lower, overall risk and less susceptible to funding shocks but may react more to shocks that affect expected returns in a particular host country. Foreign banks have become particularly important in Latin America where we find strong support for these theoretical predictions using a dataset of individual Latin American banks in 11 countries. Moreover, we find no significant difference between the size of the response of foreign banks to a negative liquidity shock and a positive opportunity shock: in both cases the market share of foreign banks in credit increases.
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Burton, Liz, Carolyn Knight, Brittney Malone, Lexie Rivers, Rachel Walker, and James Wright. Exercise Interventions for Adults with Burn Injuries. University of Tennessee Health Science Center, May 2021. http://dx.doi.org/10.21007/chp.mot2.2021.0010.
Full textAbstract:
The purpose of this critically appraised topic (CAT) is to provide the highest quality of evidence available on the implementation of exercise interventions in the early burn rehabilitation phase in adult burn victims. This portfolio contains four peer-reviewed research articles from national and international journals. The study designs include one systematic review and meta analyses, one retrospective cohort study and two randomized control trials. These articles covered three types of exercise interventions including resistance training, mobility training, and physiotherapy. Overall, the clinical bottom line of this CAT is that exercise interventions in early burn rehabilitation may be effective in improving upper extremity function, muscle strength, range of motion, quality of life, and decreasing length of stay and inf lammation. Further research is needed to determine the effects of early exercise interventions in adults in the burn ICU.
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Marto, Ricardo, Paola Buitrago, Agustina Schijman, Peter Freeman, Ali Khadr, Monika Huppi, and Andrea Florimon. Country Program Evaluation: Jamaica 2009-2014. Inter-American Development Bank, November 2014. http://dx.doi.org/10.18235/0010600.
Full textAbstract:
This document presents an evaluation by the Office of Evaluation and Oversight (OVE) of the Country Program of the Inter-American Development Bank (IDB, or the Bank) with Jamaica over the period 2009-2014. It is OVE's third independent assessment of the Bank's program in Jamaica. Past evaluations covered the periods 1990-2002 (RE-310, October 2005) and 2003-2008 (RE-365, June 2010).According to the Bank's Protocol for Country Program Evaluations (CPEs) (RE-348-3), the main function of a CPE is "to provide information on Bank performance at the country level that is credible and useful, and that enables the incorporation of lessons and recommendations that can be used to improve the development effectiveness of the Bank's overall strategy and program of country assistance." Like other CPEs, this evaluation examines Bank support to the country, with the dual purpose of strengthening accountability and facilitating learning. The assessment in the CPE covers a portfolio that includes all the operations approved between 2009 and July 2014, together with those approved previously but implemented during this period. The details of the portfolio are provided in the annexes to this document. In preparing this document, OVE interviewed some 130 people, including the Bank's main counterparts among the Jamaican authorities, project execution units, members of civil society and the private sector, representatives of multilateral agencies with presence in Jamaica, the Bank's General Manager for the Caribbean Region Department, the Bank's current and former Representatives in Jamaica, and IDB staff at the Bank's Country Office and at Headquarters. The mission also visited the sites of IDB-supported projects to assess implementation progress and challenges.
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Henley, Megan, Lindie Hill, Sydney Inman, Molly King, Sam Lopez, and Carley Mahaffey. Long-Term Outcomes in Children with Acute Flaccid Myelitis. University of Tennessee Health Science Center, May 2021. http://dx.doi.org/10.21007/chp.mot2.2021.0007.
Full textAbstract:
The purpose of our critically appraised topic is to combine the best evidence regarding the long-term outcomes in children with acute flaccid myelitis (AFM) regarding posture and movement, gross and fine motor control, and activities of daily living (ADL) performance. The final portfolio contains eight articles. The study designs of these articles include a retrospective cohort study, two retrospective non-randomized studies without a control group, a retrospective review, a nationwide follow-up questionnaire analysis study, a case report, a case series, and a multiple quantitative case study. All studies related directly to our evidence-based PICO question and were used to determine the best evidence of the long-term outcomes in children with AFM. Overall, our findings showed that functional improvements were seen in most i ndividuals, however, this varied from complete to incomplete recovery along with some persistent motor and functional deficits. Every case is different depending on when they were diagnosed, and how quickly they were able to implement a rehabilitation program into their everyday routine.
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Soldano, Miguel, Michelle Fryer, Ana María Linares, Santiago Ramírez Rodríguez, Jose Fajgenbaum, Alayna Tetreault, César P. Bouillon, et al. Country Program Evaluation: Panama (2010-2014). Inter-American Development Bank, May 2015. http://dx.doi.org/10.18235/0010618.
Full textAbstract:
This Country Program Evaluation (CPE) is the third independent evaluation of the country program of the Inter-American Development Bank (the Bank) with Panama. Past evaluations covered the periods 1991-2003 (RE-305), when the country was transitioning to full control of its prime economic asset, the Panama Canal, and the Canal Zone territory and infrastructure, and 2005-2009 (RE-359), a period characterized by extraordinarily good macroeconomic performance and significant fiscal reform. This CPE spans January 2010 to December 2014, years marked by an ambitious public investment program and a strong reduction in unemployment and poverty, although accompanied by income inequality.According to the Bank's Protocol for Country Program Evaluations (RE-348-3), the main goal of a CPE is to provide information on Bank performance at the country level that is credible and useful, and that enables the incorporation of lessons and recommendations that can be used to improve the development effectiveness of the Bank's overall strategy and program of country assistance. Like other CPEs, this evaluation seeks to examine the Bank's relationship with the country from an independent perspective, strengthening accountability and facilitating learning to serve as an input to the new Country Strategy under preparation for 2015-2019. To prepare this document, OVE interviewed the Bank's main counterparts among Panama's authorities, project execution units, civil society and the private sector, multilateral agencies with presence in Panama, and Bank staff in Panama and at Headquarters. OVE also visited Bank-supported projects to assess implementation progress and challenges. The evaluation portfolio includes all operations approved over the review period, together with those approved previously but implemented during the review period. Chapter 1 examines Panamas economic and social development over 2010-2014 and considers the countrys medium-term prospects. Chapter 2 analyzes the strategic and financial relevance of the Bank's program and assesses implementation effectiveness. Chapter 3 discusses the results achieved in the six strategic sectors identified by the 2010-2014 Country Strategy and assesses the use of country systems. Chapter 4 presents concluding remarks and recommendations. The annexes provide details of the portfolio and include figures that support OVE's analysis.