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In this article, we characterize efficient portfolios, i.e. portfolios which are optimal for at least one rational agent, in a very general financial market model of foreign currencies with proportional transaction costs. In our setting, transaction costs may be random, time dependent, have...
Persistent link: https://www.econbiz.de/10010733710
In this article, we characterize efficient portfolios, i.e. portfolios which are optimal for at least one rational agent, in a very general financial market model of foreign currencies with proportional transaction costs. In our setting, transaction costs may be random, time dependent, have...
Persistent link: https://www.econbiz.de/10010618168
In this paper, we point out the role of anticomonotonicity in the characterization of efficient contingent claims, and in the measure of inefficiency size of financial strategies. Two random variables are said to be anticomonotonic if they move in opposite directions. We first provide necessary...
Persistent link: https://www.econbiz.de/10008793718
In this article, we characterize efficient contingent claims in a context of transaction costs and multidimensional utility functions. The dual formulation of utility maximization helps us outline the key notion of cyclic anticomonotonicity. Moreover, after defining a utility price in this...
Persistent link: https://www.econbiz.de/10008793933
out of which belong to Muslim world. The governance of the political and corporate institutions, higher education and … technology readiness are classified as significant factors of the business competitiveness. It was concluded that governance … ultimately the sustainable economic development by improvement in the higher education and institutional governance. …
Persistent link: https://www.econbiz.de/10005789246
countries in different ways. It was recommended that Muslim countries should improve their governance of the corporate and …
Persistent link: https://www.econbiz.de/10005790292
In the post communism regime, the responsibility of economic development has largely been shifted to private sector …), democratization in business and finance, corporate culture, fair trade, good governance and economic freedom and participation. The …, and competitiveness were redefined. The implementation of the separate entity concept and the code of corporate governance …
Persistent link: https://www.econbiz.de/10008574624