Domestic investors hold a substantially larger proportion of their wealth portfolios in domestic assets than standard portfolio theory would suggest, a phenomenon called "equity home bias." In the absence of this bias, investors would optimally diversify domestic output risk using foreign equities. Therefore, consumption growth rates would tend to comove across countries even when output growth...

In this article we have reviewed ``Modern Portfolio Analysis'' and outlined some important topics for further research. Issues discussed include the history and future of portfolio theory, the key inputs necessary to perform portfolio optimization, speci®c problems in applying portfolio theory to ®nancial institutions, and the methods for evaluating how well portfolios are managed. Emphasis is ...

International asset demands are functions of expected returns. Optimal portfolio theory tells us that the coetlicients in this relationship depend on the variance-covariance matrix of real returns. But previous estimates of the optimal portfolio (1) assume expected returns constant and (2) are not set up to test the hypothesis of mean-variance optimization. We use maximum likelihood estimation ...

The present-day architecture of the present era represents the emergence of ethical issues arisingfrom the ideas of the " Modern individual-oriented" and "Pos tmodern being oriented", such as the consideration of personal interes ts and the reduction of human relations. Therefore, the exis tence of such shortcomings requires the identification of an architecture that considers the individ...

the development of technology and modern industrial foundations has faced new matters to contemporary human societies. technology is rapidly changing lifestyles, social interactions and even modern human worldview about him (her)self and existence. technology-the unavoidable reality of modern world- represented itself as a phenomenon of expanding. the modern techniques have become quite differe...

Stakeholders in the science system need to decide where to place their bets. Example questions include: Which areas of research should get more funding? Who should we hire? Which projects should we abandon and which new projects should we start? Making informed choices requires knowledge about these research options. Unfortunately, to date research portfolio options have not been defined in a c...

this paper deals with an essential problem which the modern western thinker faced with and tried to find a solution for that in the benefit of modern humanity. this problem is human reason and his free mind. the author tries here to go back to zarathrustrian concept of mind and bring forth some fresh reflections in a comparative way. this will let him to evaluate in the main the view that argue...

Scenarios for modern human origins are often predicated on the assumption that modern humans arose 200,000-100,000 years ago in Africa. This assumption implies that something 'special' happened at this point in time in Africa, such as the speciation that produced Homo sapiens, a severe bottleneck in human population size, or a combination of the two. The common thread is that after the divergen...