abbas Saleh Ardestani; hadi varzeshkar
Volume 19, Issue 2 , August 2015, , Pages 53-64
Abstract
with due attention to importance of investment in stock exchange and special attention of governments to prospering of this part of economy , in this research we want to introduce the best method of investment between two specialized common methods namely fundamental analysis and technical analysis . ...
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with due attention to importance of investment in stock exchange and special attention of governments to prospering of this part of economy , in this research we want to introduce the best method of investment between two specialized common methods namely fundamental analysis and technical analysis . It is claimed by the investigator that investment on base of fundamental analysis is more efficient than by technical analysis . Therefore average efficiency of each method should be accounted and then compare with each other . This investigation for purpose of objective is applying and for purpose of method is descriptive - comparative and by nature is post-happening and considers past quantitative information . The results show that efficiency of fundamental analysis is more than technical analysis through the two years period of study and it verify investigator claim . ` ` ` ` ` ` ` ` ` ` ` `
Adel Azar; Reza Jalali; farzane khosravani
Volume 17, Issue 1 , February 2013, , Pages 1-19
Abstract
Abstract Selecting a portfolio has always been a significant issue in Financial Management. The models presented for selecting the best portfolio have some deficiencies and after some time, their deficiencies would be revealed and they will be replaced by some other models. One of the problems with those ...
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Abstract Selecting a portfolio has always been a significant issue in Financial Management. The models presented for selecting the best portfolio have some deficiencies and after some time, their deficiencies would be revealed and they will be replaced by some other models. One of the problems with those models is neglecting the multifaceted indices and dimensions for final evaluation of portfolio, and these efficiencies will bring the validity of the evaluation results under question. In order to remove these efficiencies, one can use DEA (Data Envelopment Analysis) technique which is one of the MCDM (Multi-Criteria Decision Making) techniques. In this paper, two models have been presented; one finds the most efficient portfolio and the other one finds the most inefficient. In this paper, 95 companies now present in Tehran Stock Market have been investigated. The results demonstrate that out of those 95 companies, seven companies are efficient and 8 companies are utterly inefficient. Keywords: Data Envelopment Analysis, Multi-Criteria Decision Making (MCDM), Portfolio
Ebrahim Abbassi; Amir Hossein Erza
Volume 12, Issue 4 , January 2009, , Pages 227-263
Abstract
Purchasing stock portfolio is one of the ways of risk mitigation in the light of investment process on securities. The research applies two measures, Z and G, to demonstrate stock portfolio. Fundamental variables applied in the research are Z index, which demonstrates financial authenticity of firm and ...
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Purchasing stock portfolio is one of the ways of risk mitigation in the light of investment process on securities. The research applies two measures, Z and G, to demonstrate stock portfolio. Fundamental variables applied in the research are Z index, which demonstrates financial authenticity of firm and G index that shows the growth rate of firm’s net profit. Accordingly, The stocks of 153 firms have been rated in Tehran stock exchange in to two patterns comprising nine portfolios and twelve portfolios based on Beta and the return during a five year period.
The results showed that the concordance of these portfolios’rating in a 9 porffolio pattern based on risk indexes and return is higher than a 12 portfolio pattern. In addition, concordance of the rate of portfolios based on the return index is higher than the concordance of rates based on the beta index. Z1G3 portfolio has the highest rate in a 9 portfolio pattern based on the return mean. In other words, it yields the highest return in terms of beta mean index. In terms of beta mean, Z2G1 portfolio has the highest rate, that is, it has the least beta.
