Ayub, Usman; Shah, Syed Zulfiqar Ali; Abbas, Qaisar - In: Economic Modelling 44 (2015) C, pp. 86-96
Variance and downside risk are different proxies of risk in portfolio management. This study tests mean–variance and downside risk frameworks in relation to portfolio management. The sample is a highly volatile market; Karachi Stock Exchange, Pakistan. Factors affecting portfolio optimization...