Banks all over the world have through their unique position in an economy, contributed immensely to the economic growth and development of a nation. The significance of the banking sector in any country stems from its role of financial mobilization from surplus to deficit units of any economy,...

Most investment decisions focus on a forecast of future events that is either explicit or implicit. Generally asset pricing models postulate a positive relationship between a stock portfolio's expected returns and risk, which is often modeled by the variance of the asset price. The essence of...

The core of portfolio selection theory centers on striking a balance between risk-return trade-off of a given investment layout so as to maximize benefits. Literature reveals that portfolio selection or asset allocation problems often involve the use of mathematical programming in propounding...