Wealth management: Modeling the nonlinear dependence

Wealth management: Modeling the nonlinear dependence

This work aims the development of an enhanced portfolio selection method, which is based on the classical portfolio theory proposed by Markowitz (1952) and incorporates the local Gaussian correlation model for optimization. This novel method of portfolio selection incorporates two assumptions: the non-linearity of returns and the empirical observation that the relation between assets is dynamic...

Shareholder Wealth Effects of MANAGEMENT Regulatory COMPLIANCE

Purpose: This paper addresses whether and how the Sarbanes-Oxley Act of 2002(SOX) affects shareholder wealth (firm value) by focusing on the trade-off between improved corporate governance leading to a lower cost of capital and increased managerial compliance costs of regulations. Design/Methodology: We use an analytical model of solving the management utility maximization function and the cha...

The Moderating Role of Dependence in Relationship Marketing: an Example from the Wealth Management Industry

This paper examines the moderating role of customer dependence in relationship marketing. Data were obtained from a sample of 289 wealth managers. The findings indicate that a relationship model is more adapted in the high dependence context than in the low dependence context in which a transactional model is more suitable. Dependence is regarded by various researchers as central in explaining ...

Modeling Wealth Inequality

Nonlinear Array Dependence Analysis Nonlinear Array Dependence Analysis

Standard array data dependence techniques can only reason about linear constraints. There has also been work on analyzing some dependences involving polynomial constraints. Analyzing array data dependences in real-world programs requires handling many \unanalyzable" terms: subscript arrays, run-time tests, function calls. The standard approach to analyzing such programs has been to omit and ign...