The authors describe the development process for a portfolio that programs may use for evaluating psychiatry residents. A committee carefully developed the portfolio requirements for 13 necessary skills in psychiatry. Psychiatrists were trained to rate portfolios. Review of the development and training process suggested that portfolios provided information both on individual residents and on th...

Many portfolio managers measure performance with reference to a benchmark. The difference in return between a portfolio and its benchmark is the active return of the portfolio. Portfolio managers and their clients want to know what caused this active return. Performance attribution decomposes the active return. The two most common approaches are the Brinson-Hood-Beebower (hereafter referred to ...

We consider the infinite time-horizon optimal basket portfolio liquidation problem for a von NeumannMorgenstern investor in a multi-asset extension of the liquidity model of Almgren (2003) with cross-asset impact. Using a stochastic control approach, we establish a “separation theorem”: the sequence of portfolios held during an optimal liquidation depends only on the (co-)variance and (cross-as...

We present numerical approximations of optimal portfolios in mispriced Lévy markets under asymmetric information for informed and uninformed investors having logarithmic preference. We apply our numerical scheme to Kou (2002) jump-diffusion markets by deriving analytic formulas for the first two derivatives of the underlying portfolio objective function which depend only on the Lévy measure of ...

The allocation problem stems from the diversification effect observed in risk measurements of financial portfolios: the sum of the “risks” of many portfolios is larger than the “risk” of the sum of the portfolios. The allocation problem is to apportion this diversification advantage to the portfolios in a fair manner, yielding, for each portfolio, a risk appraisal that accounts for diversificat...

this research presents a study concerning the relationship between acquisition premium and acquirer returns in acquisition transactions to examine whether the acquirers have been able to earn back the paid premiums through post-acquisition returns after the acquisition. this study is based on data gathered through acquisitions during the period between 2001 and 2006in tehran stock exchange (tse...

An international portfolio allows simultaneous investment in both domestic and foreign markets. It hence has the potential for improved performance by exploiting a wider range of returns, and diversification benefits, than portfolios investing in just one market. However, to obtain the most efficient portfolios (along with the usual management of assets) the risks from currency fluctuations nee...