文章基本信息

标题：MARKOWITZ' MODEL WITH FUNDAMENTAL AND TECHNICAL ANALYSIS – COMPLEMENTARY METHODS OR NOT
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作者：Marasović, Branka ; Poklepović, Tea ; Aljinović, Zdravka 等
期刊名称：Croatian Operational Research Review
印刷版ISSN：1848-0225
出版年度：2011
卷号：2
期号：1
页码：122-132
出版社：Croatian Operational Research Society
摘要：As it is well known there are few “starting points” in portfolio optimization process, i.e. in the stock selection process. Famous Markowitz’ optimization model is unavoidable in this job. On the other side, someone may say that the indicators of the fundamental analysis must be the starting point. Beside that, the suggestions of the technical analysis must be taken into consideration. There are really numerous studies of the each approach separately, but it is almost impossible to find researches combining these approaches in logic and efficient unity. The main task of the paper is to find out if these approaches are complementary and if they are, how to apply them as efficient unit process. The empirical part of the study uses share sample from the Croatian stock market. Beside Markowitz’ MV model, fundamental and technical analysis, big role in the paper has an original multi-criterion approach.
关键词：Markowitz M-V model; fundamental analysis; technical analysis; multi-criterion approach; Croatian stock market