Portfolio selection: a fuzzy-ANP approach

Galankashi, Masoud Rahiminezhad; Rafiei, Farimah Mokhatab; Ghezelbash, Maryam

doi:10.1186/s40854-020-00175-4

Cited by 66 publications

(46 citation statements)

References 127 publications

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“…The majority of the studies have focused primarily on risk and income as the main criteria in the investment decision process neglecting many other important criteria at the same time (Rahiminezhad Galankashi et al 2020). As Diyarbakırlıo glu and Satman (2013) point out, correlations are an essential part of investment decisions as they provide important information about diversification potential.…”

Section: Impact Of Crises On Risk Diversificationmentioning

confidence: 99%

How Many Stocks Are Sufficient for Equity Portfolio Diversification? A Review of the Literature

Zaimović

Omanovic

Arnaut-Berilo

2021

JRFM

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Using extensive and comprehensive databases to select a subset of research papers, we aim to critically analyze previous empirical studies to identify certain patterns in determining the optimal number of stocks in well-diversified portfolios in different markets, and to compare how the optimal number of stocks has changed over different periods and how it has been affected by market turmoil such as the Global Financial Crisis (GFC) and the current COVID-19 pandemic. The main methods used are bibliometric analysis and systematic literature review. Evaluating the number of assets which lead to optimal diversification is not an easy task as it is impacted by a huge number of different factors: the way systematic risk is measured, the investment universe (size, asset classes and features of the asset classes), the investor’s characteristics, the change over time of the asset features, the model adopted to measure diversification (i.e., equally weighted versus optimal allocation), the frequency of the data that is being used, together with the time horizon, conditions in the market that the study refers to, etc. Our paper provides additional support for the fact that (1) a generalized optimal number of stocks that constitute a well-diversified portfolio does not exist for whichever market, period or investor. Recent studies further suggest that (2) the size of a well-diversified portfolio is larger today than in the past, (3) this number is lower in emerging markets compared to developed financial markets, (4) the higher the stock correlations with the market, the lower the number of stocks required for a well-diversified portfolio for individual investors, and (5) machine learning methods could potentially improve the investment decision process. Our results could be helpful to private and institutional investors in constructing and managing their portfolios and provide a framework for future research.

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Section: Impact Of Crises On Risk Diversificationmentioning

confidence: 99%

How Many Stocks Are Sufficient for Equity Portfolio Diversification? A Review of the Literature

Zaimović

Omanovic

Arnaut-Berilo

2021

JRFM

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“…Up until now, research on product ratings based on online reviews has been rare. The research has usually consisted of three steps: first, extracting product attributes from comments; second, identifying emotional directions corresponding to product attributes; and finally, using one of Multi-Attributes Decision Making methods (Galankashi et al, 2020;Wang et al, 2021) to score product attributes and weighting them to obtain the final product rating. Zhang et al (2010) was the first person to rate products using online reviews.…”

Section: Ranking Products Based On Online Reviewsmentioning

confidence: 99%

A Cross-Platform Market Structure Analysis Method Using Online Product Reviews

Kou

Yang

Peng

et al. 2021

Technological and Economic Development of Economy

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Studies have shown that online product reviews can indicate the position of a competitive brand. Even though reviews on different platforms may express different opinions, most studies are based on only one platform. This may lead to an inaccurate analysis of market structure. To solve this problem, we develop a novel market structure analysis based on multi-attribute group decision-making which can integrate reviews from different platforms. Multiple platforms more comprehensively reflect the market than single platforms do. To verify the effectiveness of the proposed method, we conduct a case study of mobile phone reviews across three top e-commerce platforms in China. In addition, we propose a process to generate priorities for product-attribute improvements using a cross-platform market structure analysis method. Our experiments demonstrate the effectiveness of the proposed method.

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“…The selection of the criteria for the AHP method has been mainly based on the reviewed literature or expert recommendations [43,44]. However, this approach is not suitable for cases covered by only a few research studies.…”

Section: Estimating the Population Of Residential Buildingsmentioning

confidence: 99%

Optimal Location Analysis of Delivery Parcel-Pickup Points Using AHP and Network Huff Model: A Case Study of Shiweitang Sub-District in Guangzhou City, China

Zheng

Morimoto

Murayama

2020

IJGI

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The use of parcel-pickup points (PPPs) is an effective approach for solving the last-mile problem. However, few studies provide specific guidance for the optimal organization of PPPs. Here, a geographic information system(GIS)-based hybrid model was developed combining the widely used analytic hierarchy process (AHP) multi-criteria analysis method with the Huff model that predicts the number of visiting customers to determine the optimal facility for collaboration and service as a PPP. Using this model, a decision-maker can select the highest-ranking facility or use the fluctuation ranking graph to determine a priority list of candidate facilities according to the appropriate PPP service distance. Our findings suggest that the optimal candidate facility should be located near high population density areas, a dense road network, and few geographic barriers. The facility should have a high attractiveness value, long business hours, and convenient access to public transportation, cover a large, high-population area, and should be a retail chain store. Based on these findings, the AHP method can improve the accuracy of obtaining the facility attractiveness value using the Huff model. Facility attractiveness has a strong effect on the resulting number of customers in the case of acceptably long distances to residential buildings.

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Portfolio selection: a fuzzy-ANP approach

Cited by 66 publications

References 127 publications

How Many Stocks Are Sufficient for Equity Portfolio Diversification? A Review of the Literature

How Many Stocks Are Sufficient for Equity Portfolio Diversification? A Review of the Literature

A Cross-Platform Market Structure Analysis Method Using Online Product Reviews

Optimal Location Analysis of Delivery Parcel-Pickup Points Using AHP and Network Huff Model: A Case Study of Shiweitang Sub-District in Guangzhou City, China

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