The Growth Share Matrix (BCG Matrix) was introduced by the Boston Consulting Group more than 35 years ago and is still in widespread use despite severe doubts as to its suitability. This paper summarizes the respective research results gathered over the years and illustrates the problems of the...

The volatility of currency exchange rates can be considered as an useful measure of uncertainty about the economic environment of a country.The paper aims to investigate the evolution of the daily RON/EURO exchange rate between January 5th, 2009 and October 12, 2012. Several appropriate models...

Целью статьи является разработка такого инструмента матричного анализа, который бы обобщал базовые характеристики внутренней и внешней среды для формирования...

We consider random vectors drawn from a multivariate normal distribution and compute the sample statistics in the presence of stochastic correlations. For this purpose, we construct an ensemble of random correlation matrices and average the normal distribution over this ensemble. The resulting...

Burundi is one of the poorest countries in the world. The country is emerging from more than a decade of civil conflict. The World Bank’s country assistance strategy focuses on structural reforms to further increase growth and reduce poverty. The economy is emerging from the effects of...

The purpose of this paper is to study the relation of US stocks, gold, and oil with the US dollar foreign exchange rate. First it is demonstrated that the law of one price holds for US stocks, gold, and oil. This law specifies that a 1% appreciation of the US dollar leads to a 1% fall in the...

We propose a new test of the stochastic dominance efficiency of a given portfolio over a class of portfolios. We establish its null and alternative asymptotic properties, and define a method for consistently estimating critical values. We present some numerical evidence that our tests work well...

Replaced with revised version of paper 10/18/07.

The ornamental horticultural industry continues to be one of the most rapidly expanding sectors in agriculture. This study examined a decision model for landscape plant production based on portfolio analysis. A quadratic programming model was developed to generate an optimal crop portfolio for a...

This study examines the portfolio allocation of assets for farm and nonfarm households using the Agricultural Resource Management Survey and the Survey of Consumer Finances. The stylized facts of household finance, including limited participation in equity markets and heterogeneity of asset...