Purpose – The purpose of this paper is to argue that simplifications of portfolio selection may no longer be necessary, based on computational advancements of portfolio theory and powerful computers. Design/methodology/approach – First, the paper reviews the two branches of portfolio...

Purpose – Classifying and evaluating the central ideas of strategic management (the basic tools for managers) is an ambitious project. Judging them by their impact, utility, and longevity, this study selected ten big ideas. Design/methodology/approach – The author, who has 40 years of...

In the discussion on the relationship between spot and forward prices in electricity markets, the equilibrium approach has an unambiguous prevalence. It is the relative recency of this market that gives rise to the question of how precisely forward prices converge to the spot prices. We decide...

I extend and generalize the work of Kruschwitz and Löffler (BuR—Business Research 2(2):171–178, 2009). I find that, with a zero risk-free rate, the implicit price of capital gains tax payments is zero. I provide conditions in stochastic discount factor language when a capital gains tax has...

This study examines the impact of risk models and investors' risk aversion on the selection of community solar portfolios. Various risk models to account for the volatility in the electrical power output of community solar, namely variance (Var), SemiVariance (SemiVar), mean absolute deviation...

A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing asset price - contrary to a wide-held conjecture. Generalizing the common additive signal-return model with CARA utility to the family of distributions with moment generating...