30TH ANNIVERSARY ISSUE 2004 THE JOURNAL OF PORTFOLIO MANAGEMENT 15 The 30th anniversary of The Journal of Portfolio Management is a milestone in the rich intellectual history of modern finance, firmly establishing the relevance of quantitative models and scientific inquiry in the practice of financial management. One of the most enduring ideas from this intellectual history is the Efficient Mar...

In most companies project work becomes more and more important. In order to optimize the alignment of projects with company strategy, adequate management of the project portfolio is required. In addition to the growing importance of projects and project portfolio management, a paradigm shift within the customer orientation takes place. In this case the customer value, which is characterized by ...

This paper analyzes a model of moral hazard in portfolio management. Managers wish to earn the higher fees associated with active management but are averse to the effort of identifying superior trading strategies through research. Previous research has focused on contracts which offer explicit incentives. In this paper I address optimal contracting between an investor and a portfolio manager wh...

Although recently a lot of attention has been devoted to IT project portfolio management in theory as well as in practice, research in this area is particularly focused on approaches for project selection. Related tasks and especially the organizational environment in which IT project portfolio management is embedded are often excluded. This paper relates existing findings from the field of IT ...

In this article, we apply the mean-expected tail loss (ETL) portfolio optimization to the consensus temporary earnings forecasting (CTEF) data from global equities. The time series model with multivariate normal tempered stable (MNTS) innovations is used to generate the out-of-sample scenarios for the portfolio optimization. We find that (1) the CTEF variable continues to be of value in portfol...

In the past twenty years or so, three approaches to brand portfolio management strategies have emerged. The first approach is marketing. This associated with building a corporate portfolio. goal increase diversified cash flows by entering new market segments. second related competitive strategy of enterprise. A false intellectual property applications being created. Competitors are expected spe...