engleski

The securities portfolio modelling for emerging markets

The most significant differences at emerging markets, according to the other types of capital markets, include volatility, lack of regulation, and lack of liquidity. Thus, portfolio building is usually not result of standard techniques and procedures such as technical or fundamental analysis. Besides, the use of insider's information for trading at emerging markets is not always controlled and sanctioned as it is expected in other democratic countries, which have decades or even centuries of trading tradition. Corporate governance in transition countries formally follows the OECD Principles, but the implementation of ethical rules is still about starting point in many companies listed on local stock exchanges. International investors, who are crucial for economic development in countries with emerging markets, need more reliable environment for their decisions, so they should welcome establishing the multi-criteria model for building their portfolios.

securities; emerging markets; portfolio building; multi-criteria decision making

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