Naslov
Markowitz' Model with Fundamental and Technical Analysis-Complementary methods or Not

Autori
Marasović, Branka ; Poklepović, Tea ; Aljinović, Zdravka

Izvornik
Croatian operational research review (1848-0225) 2 (2011); 122-132

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Markowitz M-V model; fundamental analysis; technical analysis; multi-criterion approach; Croatian stock market

Sažetak
As it is well known there are few “starting points” in portfolio optimization process, i.e. in the stock selection process. Famous Markowitz’ optimization model is unavoidable in this job. On the other side, someone may say that the indicators of the fundamental analysis must be the starting point. Beside that, the suggestions of the technical analysis must be taken into consideration. There are really numerous studies of the each approach separately, but it is almost impossible to find researches combining these approaches in logic and efficient unity. The main task of the paper is to find out if these approaches are complementary and if they are, how to apply them as efficient unit process. The empirical part of the study uses share sample from the Croatian stock market. Beside Markowitz’ MV model, fundamental and technical analysis, big role in the paper has an original multi-criterion approach.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA