Open Access. Powered by Scholars. Published by Universities.®

Portfolio and Security Analysis Commons™

Open Access. Powered by Scholars. Published by Universities.®

Discipline
Institution
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 751 - 780 of 1025

Full-Text Articles in Portfolio and Security Analysis

U.S. Response To Terrorism: A Strategic Analysis Of The Afghanistan Campaign, Valentina Taddeo May 2010

U.S. Response To Terrorism: A Strategic Analysis Of The Afghanistan Campaign, Valentina Taddeo

Journal of Strategic Security

This article examines the U.S. response to global terrorism and its campaign in Afghanistan from 2001 to today. The aim of this article is first to understand the fallacies, missteps, and misunderstandings of the U.S. approach in Afghanistan. Second, the analysis evaluates the lessons learnt and some possible strategies for achieving long-term stability and security in Afghanistan. In particular, the analysis focuses on the different strategies adopted by the United States and their achievements. Despite a first victory over the Taliban regime, the initial approach was focused on the enemy only and it lacked long-term planning, paving the way to …

Go to article

North Korea And Support To Terrorism: An Evolving History, Bruce E. Bechtol, Jr. May 2010

North Korea And Support To Terrorism: An Evolving History, Bruce E. Bechtol, Jr.

Journal of Strategic Security

The DPRK's (Democratic People's Republic of Korea or North Korea) support for terrorism began as an ideologically-based policy financed by the Soviet Union that eventually led to a policy designed to put money into the coffers of the elite in Pyongyang—in short, a "proliferation for hire" policy. This article articulates a brief history of the North Korean regime, the rise to power of Kim Il-sung and his son, Kim Jong-il, and North Korea's persistent support to terrorist groups around the globe.

Go to article

The Multiple Faces Of Effective Grand Strategy, Bryan N. Groves May 2010

The Multiple Faces Of Effective Grand Strategy, Bryan N. Groves

Journal of Strategic Security

Effective national leaders throughout history have deliberately developed grand strategies and successfully implemented them to attain their political goals, while also integrating and accomplishing economic, social, defense, and sometimes religious objectives. Not all leaders have been successful, however, as this process is immensely complex and can be adversely affected by the actions of other leaders around their region and the world. It bears examination, then, to determine what factors contribute to successful grand strategies and why many leaders fail to reach their stated ends. This article utilizes a historic case study approach and explores three key areas of grand strategy: …

Go to article

Indian Involvement In Afghanistan In The Context Of The South Asian Security System, Melanie Hanif May 2010

Indian Involvement In Afghanistan In The Context Of The South Asian Security System, Melanie Hanif

Journal of Strategic Security

This article focuses on the regional requirements for a pacification of Afghanistan. For this purpose, Afghanistan is analytically "reframed" as part of South Asia. The hypothesis is that India is the only regional actor that might possess both the incentives and the capabilities to deal with the negative security externalities emanating from Afghanistan.In South Asia, material characteristics such as the delineation of the region and its power polarity are unclear. India's role within the region is even more controversial. By examining India's role within its security environment, this paper will suggest how this lack of clarity could be remedied. In …

Go to article

Ballistic Missile Defense: New Plans, Old Challenges, Elizabeth Zolotukhina May 2010

Ballistic Missile Defense: New Plans, Old Challenges, Elizabeth Zolotukhina

Journal of Strategic Security

On September 17, 2009—the 70th anniversary of the Soviet invasion of Poland in 1939 that marked the beginning of World War II—the Obama Administration announced its intention to shelve plans for the U.S. Ballistic Missile Defense (BMD) that had been developed under former President George W. Bush. Pointing to a new intelligence assessment, President Obama argued that his predecessor's plan to deploy an X-band radar station outside of Prague, Czech Republic, and 10 two-stage interceptor missiles in Poland would not adequately protect America and its European allies from the Iranian threat and reiterated his opposition to utilizing unproven technology in …

Go to article

Small To Mid-Size Sporting Events: Are We Prepared To Recover From An Attack?, Brian M. Harrell, Konrad Crockford, Pierre Boisrond, Sarah Tharp-Hernandez, Suzanne Parker May 2010

Small To Mid-Size Sporting Events: Are We Prepared To Recover From An Attack?, Brian M. Harrell, Konrad Crockford, Pierre Boisrond, Sarah Tharp-Hernandez, Suzanne Parker

Journal of Strategic Security

This article describes a fictional deadly attack by a lone-wolf terrorist during a high school football event in a small town, here in the United States. The authors begin by describing an attack and then focus on the response from the medical community, city, county, state, and federal government officials. Next, the authors make several recommendations on what actions are needed to develop an effective plan to combat terrorist activities during a small- to mid-size sports event. Among the actions needed, the authors focus on the following: response planning, emergency action plan, incident command, policies and procedures, and security staff …

Go to article

The Weakest Link: The Risks Associated With Social Networking Websites, Yosef Lehrman May 2010

The Weakest Link: The Risks Associated With Social Networking Websites, Yosef Lehrman

Journal of Strategic Security

The relatively rapid rise in popularity of social networking services is now well known. MySpace, Twitter, and Facebook have become well known sites and terms. According to the Web traffic tracking site Alexa.com, as of December 2009, Facebook had 350 million registered users, MySpace just under 475 million, and Twitter 44.5 million. Many people think very little of posting prodigious amounts of personal information on social networking sites, not realizing that this information puts them at risk. Specifically, those in the law enforcement and military communities may not realize that information posted on these sites can compromise operational security and …

Go to article

Book Reviews, Edward J. Hagerty, Daniel Masters, Mark J. Roberts, Leland Ericson May 2010

Book Reviews, Edward J. Hagerty, Daniel Masters, Mark J. Roberts, Leland Ericson

Journal of Strategic Security

No abstract provided.

Go to article

Collective Investments For Pension Savings: Lessons From Singapore's Central Provident Fund Scheme, Benedict S. Koh, Olivia S. Mitchell, Joelle H. Y. Fong May 2010

Collective Investments For Pension Savings: Lessons From Singapore's Central Provident Fund Scheme, Benedict S. Koh, Olivia S. Mitchell, Joelle H. Y. Fong

Research Collection Lee Kong Chian School Of Business

Singapore's mandatory national defined contribution pension system permits participants to invest their retirement savings in a wide range of investment instruments if they wish, rather than leaving their savings in Central Provident Fund (CPF) accounts to earn interest rates by default. This article asks whether workers seeking to earn higher returns can expect to do better than the CPF-managed default, by moving their money into professionally managed unit trusts. We use historical data to investigate whether fund managers possess superior stock picking and market timing skills, as well as whether they exhibit persistence in performance and offer diversification benefits to …

Go to article

Selective Intervention And Economic Re-Engineering: Lessons Form Singapore's Parks In Indonesia And India, Caroline Yeoh, Siang Yeung Wong May 2010

Selective Intervention And Economic Re-Engineering: Lessons Form Singapore's Parks In Indonesia And India, Caroline Yeoh, Siang Yeung Wong

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Go to article

Is Regime Switching In Stock Returns Important In Portfolio Decisions?, Jun Tu May 2010

Is Regime Switching In Stock Returns Important In Portfolio Decisions?, Jun Tu

Research Collection Lee Kong Chian School Of Business

The stock market displays regime switching between upturns and downturns. This paper provides a Bayesian framework for making portfolio decisions that takes this regime switching into account, together with asset pricing model uncertainty and parameter uncertainty. The findings reveal that the economic value of accounting for regimes is substantially independent of whether or not model and parameter uncertainties are incorporated: the certainty-equivalent losses associated with ignoring regime switching are generally above 2% per year and can be as high as 10%. These results suggest that the more realistic regime switching model is fundamentally different from the commonly used single-state model, …

Go to article

Portfolio Selection Under Distributional Uncertainty: A Relative Robust Cvar In Portfolio Management, Dashan Huang, Shushang Zhu, Frank Fabozzi, Masao Fukushima May 2010

Portfolio Selection Under Distributional Uncertainty: A Relative Robust Cvar In Portfolio Management, Dashan Huang, Shushang Zhu, Frank Fabozzi, Masao Fukushima

Research Collection Lee Kong Chian School Of Business

Robust optimization, one of the most popular topics in the field of optimization and control since the late 1990s, deals with an optimization problem involving uncertain parameters. In this paper, we consider the relative robust conditional value-at-risk portfolio selection problem where the underlying probability distribution of portfolio return is only known to belong to a certain set. Our approach not only takes into account the worst-case scenarios of the uncertain distribution, but also pays attention to the best possible decision with respect to each realization of the distribution. We also illustrate how to construct a robust portfolio with multiple experts …

Go to article

Geographic Trajectories Of Al-Qaida And Taliban Terrorist Groups In Pakistan, Syed Manzar Abbas Zaidi Mar 2010

Geographic Trajectories Of Al-Qaida And Taliban Terrorist Groups In Pakistan, Syed Manzar Abbas Zaidi

Journal of Strategic Security

Though Western analysts tend to mention al-Qaida and Taliban in Pakistan in the same context, the dynamics of their relationship are far more complex than a cursory examination would reveal. The context of this relationship is best understood within the overarching paradigm of militant activities of post 9/11 Taliban and al-Qaida remnants in Pakistan's tribal areas, where these groups flourish. The military struggle in Afghanistan has significantly influenced the formation of a loosely structured alQaida/Taliban "nexus" that was forged in Pakistan's Federally Administered Tribal Areas (FATA), particularly Waziristan. In order to survive the ongoing North Atlantic Treaty Organization (NATO) military …

Go to article

Global Risk Of Nuclear Terrorism, Emily Diez, Terrance Clark, Caroline Zaw-Mon Mar 2010

Global Risk Of Nuclear Terrorism, Emily Diez, Terrance Clark, Caroline Zaw-Mon

Journal of Strategic Security

The emergence of nuclear terrorism, a threat that President Obama called "the gravest danger we face," has signaled a paradigm shift in international security. Since the collapse of the Soviet Union, sensitive nuclear technologies and materials have become increasingly available. Globalization and the inadequate enforcement of treaties and export controls have allowed the proliferation of nuclear weapons materials. Today, international terrorist organizations seek to employ weapons of mass destruction (WMD) as a means to influence national policies around the world. AlQaida spokesman Suleiman Abu Gheith declared that in order to balance the injustices that have been inflicted on the Muslim …

Go to article

Intelligence And Its Role In Protecting Against Terrorism, Richard J. Hughbank, Don Githens Mar 2010

Intelligence And Its Role In Protecting Against Terrorism, Richard J. Hughbank, Don Githens

Journal of Strategic Security

The art and science of gathering critical operational intelligence has been defined in many ways and is beyond our needs for this writing. Throughout the course of history, many wars have been fought depending heavily on various forms of intelligence. During our most recent actions in the War on Terror, intelligence analysis has played a critical role in both offensive and defensive operations in Iraq and Afghanistan. With such varying fact-finding techniques available and utilized in the defense of our country, it has become an arduous task to collect, decipher, package, prioritize, disseminate, and act upon everything that comes down …

Go to article

Toward A New Trilateral Strategic Security Relationship: United States, Canada, And Mexico, Richard J. Kilroy, Jr., Abelardo Rodríguez Sumano, Todd S. Hataley Mar 2010

Toward A New Trilateral Strategic Security Relationship: United States, Canada, And Mexico, Richard J. Kilroy, Jr., Abelardo Rodríguez Sumano, Todd S. Hataley

Journal of Strategic Security

The term "perimeter defense" has come back into vogue recently, with regard to security strategies for North America. The United States' concern primarily with the terrorist threat to its homeland subsequent to September 11, 2001 (9/11) is generating this discussion with its immediate neighbors of Mexico and Canada (and to some extent some Caribbean nations—the "third border"). The concept is simply that by pushing defenses out to the "perimeter" nations, then security will be enhanced, since the United States visions itself as more vulnerable to international terrorism than its neighbors. However, Canada and Mexico have not been very happy about …

Go to article

Variance, Violence, And Democracy: A Basic Microeconomic Model Of Terrorism, John A. Sautter Mar 2010

Variance, Violence, And Democracy: A Basic Microeconomic Model Of Terrorism, John A. Sautter

Journal of Strategic Security

Much of the debate surrounding contemporary studies of terrorism focuses upon transnational terrorism. However, historical and contemporary evidence suggests that domestic terrorism is a more prevalent and pressing concern. A formal microeconomic model of terrorism is utilized here to understand acts of political violence in a domestic context within the domain of democratic governance.This article builds a very basic microeconomic model of terrorist decision making to hypothesize how a democratic government might influence the sorts of strategies that terrorists use. Mathematical models have been used to explain terrorist behavior in the past. However, the bulk of inquires in this area …

Go to article

Cover & Front Matter Mar 2010

Cover & Front Matter

Journal of Strategic Security

No abstract provided.

Go to article

Strategic Asymmetric Deception And Its Role In The Current Threat Environment, Seth A. Gulsby Mar 2010

Strategic Asymmetric Deception And Its Role In The Current Threat Environment, Seth A. Gulsby

Journal of Strategic Security

President Bill Clinton's Secretary of Defense, William Cohen, once stated that the post-Cold War world of the 1990s was a "paradox [where] American military superiority actually increase[d] the threat of... attack against [the U.S.] by creating incentives for adversaries to challenge us asymmetrically." He was alluding to the fact that the Cold War's closure was supposed to bring about a situation that encouraged peace, nation-building, and unilateral comfort for the United States. The reality that America has come to know is quite different, and some might even argue that, given the option, many people would return to a security situation …

Go to article

Book Reviews, Timothy Hsia, Sheldon Greaves, Donald J. Goldstein Mar 2010

Book Reviews, Timothy Hsia, Sheldon Greaves, Donald J. Goldstein

Journal of Strategic Security

No abstract provided.

Go to article

Pension Plan Funding Effect On Shareholder Equity, Larisa Parchomovsky Feb 2010

Pension Plan Funding Effect On Shareholder Equity, Larisa Parchomovsky

Honors College Theses

A pension plan often tends to be one of the company’s biggest liabilities. Before 2008, pension plans were not directly included in the financial statements, but could only be found in the footnote disclosures. Such accounting convention essentially made pensions a type of off-balance sheet financing resulting in a misrepresentation of valuation ratios and earnings due to the exclusion of such a significant liability. The objective of this research is to determine whether the funded status of a pension plan will significantly affect a company’s shareholder equity. As part of this research, I analyzed 4 years (2001-2004) of financial statements …

Go to article

Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, N. Allen, Kok Fai Phoon, J. Watson, J. Wickramanayake Feb 2010

Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, N. Allen, Kok Fai Phoon, J. Watson, J. Wickramanayake

Research Collection Lee Kong Chian School Of Business

The rapid expansion in assets managed by the Australian managed fund industry has resulted in it becoming a major sector of the financial system, second only to that of the banking industry. With more than A$550 billion invested in the industry investors should be concerned about the lack of reliable information available in regard to equity style management. In particular investors should be concerned about the probable mis-match between stated objectives and the actual objectives pursued by fund managers. In this study, we apply return-based style analysis (Sharpe 1988, 1992) to investigate the style and asset allocation strategies of 50 …

Go to article

An Analysis Of Extreme Price Shocks And Illiquidity Among Systematic Trend Followers, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh Feb 2010

An Analysis Of Extreme Price Shocks And Illiquidity Among Systematic Trend Followers, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh

Research Collection Lee Kong Chian School Of Business

We construct an agent-based model to study the interplay between extreme price shocks and illiquidity in the presence of systematic traders known as trend followers. The agent-based approach is particularly attractive in modeling commodity markets because the approach allows for the explicit modeling of production, capacities, and storage constraints. Our study begins by using the price stream from a market simulation involving human participants and studies the behavior of various trend-following strategies, assuming initially that their participation will not impact the market. We notice an incremental deterioration in strategy performance as and when strategies deviate further and further from the …

Go to article

Job Security And Personal Investment Portfolio, Yan Alice Xie, Howard Qi Jan 2010

Job Security And Personal Investment Portfolio, Yan Alice Xie, Howard Qi

College of Business Publications

This paper incorporates human capital into the well-established portfolio theory by allowing for job security in personal portfolio choice. Our model predicts that young people hold more cash to hedge against risk associated with human capital (layoff risk). As people age, layoff risk decreases, and consequently, they invest in more risky assets – stocks in their portfolios. However, as people approach retirement, their human capital diminishes, and they become more risk averse. Hence, they hold more cash again. Our model provides a plausible explanation for the observed investment behavior of people who reveal humped shape stock holdings over the life …

Go to article

Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms, A. Joseph Warburton Jan 2010

Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms, A. Joseph Warburton

College of Law - Faculty Scholarship

This paper studies the effects of organizational form on managerial behavior and firm performance, from an empirical perspective. Managers of trusts are subject to stricter fiduciary responsibilities than managers of corporations. This paper examines the ramifications empirically, by exploiting data generated by a change in British regulations in the 1990s that allowed mutual funds to organize as either a trust or a corporation. I find evidence that trust law is effective in curtailing opportunistic behavior, as trust managers charge significantly lower fees than their observationally equivalent corporate counterparts. Trust managers also incur lower risk. However, evidence suggests that trust managers …

Go to article

Time Varying Risk Aversion: An Application To Energy Hedging, Jim Hanly, John Cotter Jan 2010

Time Varying Risk Aversion: An Application To Energy Hedging, Jim Hanly, John Cotter

Articles

Risk aversion is a key element of utility maximizing hedge strategies; however, it has typically been assigned an arbitrary value in the literature. This paper instead applies a GARCH-in-Mean (GARCH-M) model to estimate a time-varying measure of risk aversion that is based on the observed risk preferences of energy hedging market participants. The resulting estimates are applied to derive explicit risk aversion based optimal hedge strategies for both short and long hedgers. Out-of-sample results are also presented based on a unique approach that allows us to forecast risk aversion, thereby estimating hedge strategies that address the potential future needs of …

Go to article

Pelaksanaan Instrumen Pelaburan Islam Di Islamic Bank Of Thailand (Isbt)., Fatimah Abdulmajid @ Ahmae Jan 2010

Pelaksanaan Instrumen Pelaburan Islam Di Islamic Bank Of Thailand (Isbt)., Fatimah Abdulmajid @ Ahmae

Student Works (2010-2019)

This research was carried out at Islamic Bank Of Thailand (ISBT), Wattana district, Bangkok, Thailand. The objectives of this study are try to observe and evaluate the performance and implementation of its Islamic investment instruments then analysis the performance and implementation, its effective and problem in its implementation. First chapter will describe the meaning of investment in both conventional and Islamic economic system. Chapter two will focus on Islamic Bank Of Thailand (ISBT) where will consist of history towards establishing of Islamic financial institution in Thailand, Muslim societies economic situation in Thailand until the existence of Islamic Bank Of Thailand …

Go to article

How Predictable Is The Chinese Stock Market?, Fuwei Jiang Jan 2010

How Predictable Is The Chinese Stock Market?, Fuwei Jiang

Dissertations and Theses Collection (Open Access)

We analyze return predictability for the Chinese stock market, including the aggregate market portfolio and the components of the aggregate market, such as portfolios sorted on industry, size, book-to-market and ownership concentration. Considering a variety of economic variables as predictors, both in-sample and out-of-sample tests highlight significant predictability in the aggregate market portfolio of the Chinese stock market and substantial differences in return predictability across components. Among industry portfolios, Finance and insurance, Real estate, and Service exhibit the most predictability, while portfolios of small-cap and low ownership concentration firms also display considerable predictability. Two key findings provide economic explanations for …

Go to article

Evaluating The Target Pipeline In A Pharmaceutical Acquisition, Daniel Vass Jan 2010

Evaluating The Target Pipeline In A Pharmaceutical Acquisition, Daniel Vass

Business and Economics Honors Papers

Many firms in the pharmaceutical industry turn to acquisitions when faced with gaps in their drug development pipelines and patent expirations as an alternative to making long-term investments in internal research and development. Investors are generally negative on this strategy, and upon the announcement of a pharmaceutical acquisition the stock of the acquiring firm often drops. This decline in share price creates an opportunity for the investor who can identify the characteristics of a target firm that increase the probability that the transaction will ultimately be a success, as measured by the subsequent appreciation in the acquirer's stock. It is …

Go to article

Should Individual Investors Use Technical Trading Rules To Attempt To Beat The Market?, Thomas S. Coe, Kittipong Laosethakul Jan 2010

Should Individual Investors Use Technical Trading Rules To Attempt To Beat The Market?, Thomas S. Coe, Kittipong Laosethakul

WCBT Faculty Publications

Problem statement: Despite widespread academic acceptance of the Efficient Markets Hypothesis, some stock traders still use technical trading rules in an attempt to beat the market. Approach: This study looked at four trading rules, namely, the arithmetic moving average, the relative strength index, a stochastic oscillator and its moving average. These trading rules compare the relationship of current prices to past price patterns to generate a signal when to buy and sell stocks. The trading rules were tested over the years 2000-2009, a period of time that exhibited bull and bear markets, to determine if traders could actively …

Go to article

First Prev Next Last