Cost reduction, along with the satisfaction of patient's and other users' needs, is one of the major concerns of industries and organizations that provide health care services. Hospitals are complex organizations that deal with a wide range of materials. These materials require adequate and...

The analysis of the competitive performance has always been fascinated economists both marco and micro. And 'possible to do so to identify three strands of study. The macroeconomic, aimed at identifying and analyzing indicators of per-formance of the different economic systems, a second strand...

It has long been generally accepted that substitution between wild and farmed fish exists when they are of the same species. While this is true for some species and markets, the relation does not hold for all of them. In fact, using cointegration methodology, this paper proves that farmed and...

The paper highlights the need for a methodological framework on which to base projections in project appraisal applications. Following an initial definition and sizing of the relevant market of the project, the market is analysed in terms of which are the main customer groups, what their needs...

Markowitz portfolio selection is challenged by huge implementation barriers. This paper addresses the parameter uncertainty and deviation from normality in a Bayesian framework. The non-normal asset returns are modeled as finite Gaussian mixtures. Gibbs sampler is employed to obtain draws from...

This paper investigates the impact of background risk on an investor’s portfolio choice in a mean-VaR, mean-CVaR and mean-variance framework, and analyzes the characterizations of the mean-variance boundary and mean-VaR efficient frontier in the presence of background risk. We also consider...

This paper constructs an alternative investment strategy to portfolio optimization model in the framework of the Mean–Variance portfolio selection model. To differentiate it from the ubiquitously applied Mean–Variance model, which is constructed on an assumption that returns are normally...

The financial market interest several researchers, especially in the domain of assessment of the financial assets and their performances. The previous research identified several anomalies of the market, as size, Monday, January, PER effects, etc. putting in question the notion of market...

This paper investigates the diversification prospects which may be reaped when investing in a mixture of emerging and developed market assets. Given that emerging markets are somewhat distinct from developed ones, one may expect significant diversification potential and therefore risk reduction....

This paper investigates the impact of multiplicative background risk on an investor's portfolio choice in a mean-variance framework. We also study the efficient boundary frontiers with and without risk-free security.