Financial diversification strategies before World War I: Buy-and-hold versus naïve portfolio selection

Loan Portfolio Diversification, Market Structure and Financial Stability of Banks

 The purpose of this study is to investigate the effect of bank loan portfolio diversification and market structure on the financial stability of banks in the countrychr('39')s capital market. In order to achieve the above goal, the financial data of 17 banks have been used as unbalanced panels in the period from 2005 to 2018. In this study, data analysis was performed using fixed effects model...

Experimental phonetics at University College London before World War I

This paper argues that significant research and teaching in experimental phonetics at UCL preceded the establishment of the laboratory in 1912 by almost a decade. The forgotten work of E. R. Edwards [1] combined descriptive and experimental approaches in a pioneering study of Japanese. Recently recovered artefacts, and a close reading of the early publications of Daniel Jones (DJ), reveal a sur...

Asset Selection and Under-Diversification with Financial Constraints and Income: Implications for Household Portfolio Studies

The Dual Approach to Portfolio Evaluation: A Comparison of the Static, Myopic and Generalized Buy-and-Hold Strategies

We use the recently proposed duality approach to study the performance of static, myopic and generalized buy-and-hold (GBH) trading strategies. Our interest in static and GBH strategies is motivated by the fact that these strategies are intuitive and straightforward to implement in practice. The myopic strategy, while more difficult to implement, is often close to optimal and so we use it to ob...

Asset Selection and Under-Diversification with Financial Constraints and Income: Implications for Household Portfolio Studies

Empirical studies of household portfolios have shown that young and relatively poor households hold under-diversified portfolios that are concentrated in a small number of assets, a fact often attributed to various behavioral biases. We present a model that offers a potential rational alternative: we show that relatively poor investors; i.e., investors with little financial wealth, who receive ...