A Portfolio Theory Approach For The

Pedro Krug Pacheco, pelo seu acompanhamento pontual e competente. À Décia dos Santos Nunda, pelos seus conselhos. A todos que direta ou indiretamente contribuíram para a realização deste trabalho. 3 EPÍGRAFE "A cynic is a man who knows the price of everything and the value of nothing" (Oscar Wilde) 4 RESUMO O trabalho tem como objetivo a análise dos modelos de estimação de taxas de desconto na avaliação de Ativos Intangíveis, no contexto de aplicação do método de avaliação dos…

supplier perspective Ya-Ling Tsai The department of Marketing University of Stirling, Scotland, UK. Yt1@stir.ac.uk Introduction The traditional concept of customer satisfactory requires only a good vertical supply chain between suppliers and its customers. According to this concept, customers maintain loyalty to the companies because by matching customers’ expectation they can provide quick product innovations and offer quality. Since the mid 1990s, a new concept in the supply…

fernandezpa@iese.edu ABSTRACT The equity premium designates four different concepts: Historical Equity Premium (HEP); Expected Equity Premium (EEP); Required Equity Premium (REP); and Implied Equity Premium (IEP). We highlight the confusing message in the literature regarding the equity premium and its evolution. The confusion arises from not distinguishing among the four concepts and from not recognizing that although the HEP is equal for all investors, the REP, the EEP and the IEP…

MARKOWITZ NA OTIMIZAÇÃO DE CARTEIRAS SELECIONADAS POR DATA ENVELOPMENT ANALYSIS – DEA1 MARKOWITZ OPTIMIZATION OF PORTFOLIO SELECTED BY DATA ENVELOPMENT ANALYSIS - DEA Ana Lúcia Miranda Lopes analopes@face.ufmg.br Professora Adjunta do Departamento de Ciências Administrativas e do Centro de PósGraduação e Pesquisas em Administração da Faculdade de Ciências Econômicas da Universidade Federal de Minas Gerais (CAD/CEPEAD/FACE/UFMG). Doutora em Engenharia de Produção pela…

(IPE) is the rapidly developing social science field of study that attempts to understand international and global problems using an eclectic interdisciplinary array of analytical tools and theoretical perspectives. IPE is a field that thrives on the process that Joseph Schumpeter called "creative destruction." The growing prominence of IPE as a field of study is in part a result of the continuing breakdown of disciplinary boundaries between economics and politics in particular and…

of the return on a Property-Casualty insurance policy. These measures are based on a hypothetical Single Policy Company model. Accounting rules are applied to project the Income and Equity of the company and the flows of money between the company and its equity investors. These are called Equity Flows. The three measures are: i) the Internal Rate of Return (]RR) on Equity Flows, h) the Return on Equity (ROE), and iii) the Present Value of Income over the Present Value of Equity…

que afeta a definição da taxa livre de risco e do portfólio do mercado a ser utilizado no cálculo do custo de capital pelo modelo de precificação de ativos (CAPM). Importante saber também que em um mercado globalizado, pode-se . reduzir o risco sistemático nacional mantendo-se um portfólio diversificado internacionalmente, daí o risco de um portfólio internacional ser menor que o risco de um portfólio nacional, para o mesmo nível de retorno…

que influencia no investimento Disso conclui-se que o déficit do governo é financeiro, isto é, operacional, diferente do déficit keynesiano. O mesmo autor afirmou que na análise de Bresser precisava-se de um enfoque de portfólio e de estoque da dívida. Um esquema de portfólio para o investimento do governo é uma tentativa de diminuir o déficit fiscal, vendendo as empresas públicas. 3.5 PLANO VERÃO Anunciado a 15 de janeiro de 1989, foi o terceiro choque econômico e a segunda…

provide a process for the construction of knowledge demanded by researchers at the initial stage of their work on innovation management. To meet this need, the process adopted was the ProKnow-C (Knowledge Development Process - Constructivist), which proposes the construction of researchers knowledge considering their perceptions on the subject, and the recognition of scientific articles analyzed. The knowledge generated in the researcher means, for this article, knowing what are the…

pay dividends or do not have positive cash flows Model is applied even cash flow are volatile The drawback is that the model relies so much on accounting data and that it depends on the clean surplus account relation Continuing Residual Income: is the residual income that is expected over the long term. Persistence Factor is as rate at which residual income is expected to fade over the life cycle of the firm. A high persistence factor is associated with low levels of dividend…