Limitations on the stocks portfolio optimization on the Banja Luka Stock Exchange

Acta Economica

卷:14

Горан Радивојац¹  Милош Грујић² 

[1] Faculty of Economics, University of Banja Luka;

[2] National Assembly of Republika Srpska;

关键词: modern portfolio theory;    Harry Markowitz;    market risk;    yield;    optimization;    Banja Luka stock exchange;   

DOI  :  10.7251/ACE1625035R

来源: DOAJ

【 摘 要 】

The term „portfolio analysis”, which was introduced in the economic theory by Harry Markowitz, is not a new term in scientific literature. However, in the papers of local and foreign authors, analysis and criticism are mainly based on the examples of developed capital markets. There are very few cases of application of the portfolio analysis on domestic capital market. The focus of this paper is on implementation of diversification of the shares on the Banja Luka Stock Exchange. Using Markowitz’s portfolio selection, we will prove that diversification, including all limitations, is possible and applicable onto the domestic capital market.

【 授权许可】

Unknown