This paper studies the various types of portfolio optimisation processes like Capital Asset Pricing Model, Arbitrage Pricing Theory, and Markowitz Model. It explains how these models differ from each other, and what type of risk affects an industry or a firm. The main focus is of creating an...

We compare the performance of the commonly nominated default retirement investment option, the lifecycle fund, to alternative investment strategies during retirees' decumulation phase. Under different shortfall risk measures, we find balanced portfolios with constant exposure to equities, equity...

Extensive research has evaluated mutual fund performance in different financial markets that led to mixed results; however, very limited studies have been conducted to evaluate mutual funds of Bangladesh. This paper focused on measuring risk-adjusted performance of 13 closed end mutual funds...

The basic financial purpose of an enterprise is the maximization of its value. Trade credit management should also contribute to the realization of this fundamental aim. Many of the current asset management models that are found in financial management literature assume book profit maximization...

Impact investing as an activity as well as a concept has grown in recognition on a true global scale. Yet, apart from anecdotal success stories of some specialised forms such as social-impact bonds, little is known about the field and the complex interplay between agents, instruments and...

This study introduces multiplayer game in the modern pension market. Particularly, this study claims that low earners and high earners have different interests when playing in funded pension market scheme. This differentiating is enabled by avoiding the entire society as a single earning cohort....

This study empirically examines, in the setting of insurance companies, the hypothesis that investors facing more operating risk may behave as if they were more risk averse in investment decisions. Specifically, we study how operating risk from underwriting insurance policies affects insurers'...

We consider the late accumulation stage, followed by the full decumulation stage, of an investor in a defined contribution (DC) pension plan. The investor's portfolio consists of a stock index and a bond index. As a measure of risk, we use conditional value at risk (CVAR) at the end of the...

We study a portfolio optimization problem involving the rational policyholder of a variable annuity with a guaranteed minimum maturity benefit. This financial guarantee is fi nanced via a fee withdrawn directly from the investment account, which impacts the net investment return. We propose a...

This paper unifies the work on multiple reinsurers, distortion risk measures, premium budgets,and heterogeneous beliefs. An insurer minimizes a distortion risk measure, while seekingreinsurance with finitely many reinsurers. The reinsurers use distortion premium principles, andthey are allowed...