Risk-based allocation strategies, also known as Smart Beta allocations, define the weights of assets in portfolios as functions of the individual and common asset risk. In this paper we focus on the Minimum Variance (MV), Maximum Diversification (MD), Equal Risk Contribution (ERC) and...

This paper examines the equilibrium of financial portfolios under insurance

As emphasized by the U.S. Dodd-Frank Act and the European MiFID directive, financial institu-

La littérature a démontré que les organisations adoptent des trajectoires de changement différentes selon leur écart de réalisation, i.e., selon qu’elles réalisent une performance en-deçà, conforme ou au-delà de leurs aspirations. En revanche, l’efficacité relative de ces...