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Efficient portfolios in financial markets with proportional transaction costs
Campi, Luciano; Jouini, Elyès; Porte, Vincent - HAL - 2013
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
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Efficient trading strategies in financial markets with proportional transaction costs
Campi, Luciano; Jouini, Elyès; Porte, Vincent - HAL - 2011
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
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Efficient Trading Strategies
Jouini, Elyès; Porte, Vincent - HAL - 2007
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
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Efficient Trading Strategies with Transaction Costs
Jouini, Elyès; Porte, Vincent - HAL - 2007
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
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Governance and Enterprise Restructuring in Southeast Europe
Apostolov, Mico - Volkswirtschaftliche Fakultät, … - 2010
The research in this paper is to be focused on examining governance and enterprise restructuring in Southeast Europe … Reconstruction and Development (EBRD) has governance and enterprise restructuring as basic indicator of economic transition and … defines it as effective corporate governance and corporate control exercised through domestic financial institutions and …
Persistent link: https://www.econbiz.de/10008777389
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Corporate Governance in Macedonia – micro and macro analysis
Apostolov, Mico - Volkswirtschaftliche Fakultät, … - 2010
predominant factors that create prolific corporate governance environment in two terms; a) micro level and macro level. …The corporate governance issue in Macedonian companies has been brought forward during the recent few years. The main … this kind of challenge so far. Corporate governance becomes an increasingly important issue for the Macedonian economy. It …
Persistent link: https://www.econbiz.de/10008784966
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Governance and Enterprise Restructuring in Southeast Europe – gross domestic product and foreign direct investments
Apostolov, Mico - Volkswirtschaftliche Fakultät, … - 2011
This paper is to be concerned with the corporate governance mechanisms’ influence on governance and enterprise …, Montenegro and Serbia. The institutional changes and corporate governance mechanisms in national governance systems are … essentially important for the transition process, thus there are specificities of corporate governance mechanisms in transition …
Persistent link: https://www.econbiz.de/10008866132
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Governance and enterprise restructuring - the case of Macedonia
Apostolov, Mico - Volkswirtschaftliche Fakultät, … - 2011
This paper is a case study of the Republic of Macedonia (Southeast Europe), which focuses on examining governance and … enterprise restructuring. Governance and enterprise restructuring is already defined indicator in EBRD’s studies and transition … reports, measuring the effective corporate governance and corporate control exercised through domestic financial institutions …
Persistent link: https://www.econbiz.de/10009021701
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Governance and Enterprise Restructuring - the case of Macedonia
Apostolov, Mico - Volkswirtschaftliche Fakultät, … - 2011
This paper is a case study of the Republic of Macedonia (Southeast Europe), which focuses on examining governance and … enterprise restructuring. Governance and enterprise restructuring is already defined indicator in EBRD’s studies and transition … reports, measuring the effective corporate governance and corporate control exercised through domestic financial institutions …
Persistent link: https://www.econbiz.de/10008855817