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master's thesis
FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA
Diplomski rad
2018. urn:nbn:hr:124:984941
Pavić, Jelena
University of Split
Faculty of economics Split

Cite this document

Pavić, J. (2018). FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad (Master's thesis). Split: University of Split, Faculty of economics Split. Retrieved from https://urn.nsk.hr/urn:nbn:hr:124:984941

Pavić, Jelena. "FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2018. https://urn.nsk.hr/urn:nbn:hr:124:984941

Pavić, Jelena. "FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad." Master's thesis, University of Split, Faculty of economics Split, 2018. https://urn.nsk.hr/urn:nbn:hr:124:984941

Pavić, J. (2018). 'FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad', Master's thesis, University of Split, Faculty of economics Split, accessed 20 April 2024, https://urn.nsk.hr/urn:nbn:hr:124:984941

Pavić J. FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad [Master's thesis]. Split: University of Split, Faculty of economics Split; 2018 [cited 2024 April 20] Available at: https://urn.nsk.hr/urn:nbn:hr:124:984941

J. Pavić, "FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad", Master's thesis, University of Split, Faculty of economics Split, Split, 2018. Available at: https://urn.nsk.hr/urn:nbn:hr:124:984941

Metadata
TitleFORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad
AuthorJelena Pavić
MentorZdravka Aljinović (mentor)
MBZ: 202153
GranterUniversity of Split
Faculty of economics Split
Split
Defense date and country2018-09, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Business Mathematics and Statistics
Abstract
Cilj ovog istraživanja je formiranje i usporedba efikasnih portfelja s hrvatskog i poljskog tržišta kapitala. Portfelji su formirani od obveznica kojima se trgovalo na oba tržišta. Prilikom izrade, u praktičnom dijelu rada, izvršena je analiza obveznica korištenjem Markowitzeve moderne teorije portfelja kako bi se donio zaključak o prihvaćanju ili odbacivanju postavljenih hipoteza. Nakon analize za svako tržište kapitala donosi se zaključak kako se na hrvatskom tržištu kapitala mogu ostvariti veći prinosi ali uz veći rizik, za razliku od poljskog tržišta kapitala, gdje investitori ostvaruju manji prinos uz manji rizik. Cilj je bio dokazati da će formirani efikasni portfelj na poljskom tržištu kapitala imati bolji odnos prinosa i rizika od obvezničkog portfelja s hrvatskog tržišta kapitala. Međutim, istraživanjem se ustvrdilo da obveznički portfelj formiran na hrvatskom tržištu kapitala ima bolji odnos prinosa i rizika kada se rezultati uspoređuju pri manjim razinama rizika, nego portfelj formiran na poljskom tržištu kapitala. Stoga se hipoteza koja je postavljena na način da poljsko tržište kapitala ima bolje performanse s obzirom na prinos i rizik odbacuje jer ne odgovara dobivenim rezultatima.
Abstract (english)
The aim of this research was to form and compare efficient portfolios from the Croatian and Polish capital markets. Portfolios were formed from bonds traded on both markets. Markowitz's modern portfolio theory was used during the making accept or reject hypotheses. During compiling, in the practical part of the paper, a bond analysis was performed according to the Markowitz’s modern portfolio theory in order to conclude on the acceptance or rejection of the set hypothesis. After analyzing each capital market, it is concluded that on the Croatian capital market can be achieved higher yields, but with higher risk, compared to the Polish capital market, where investors yield lower returns but with a lower level of risk. The aim was to prove that an efficient portfolio of the Polish capital market would have a better relationship between the yield and the risk than the bond portfolio from the Croatian capital market. However, the research has shown that the bond portfolio formed on the Croatian capital market has a better relationship of yield and risk when the results are compared at the lower levels of risk than the portfolio formed on the Polish capital market. For that reason, the hypothesis that is set in such a way that the Polish capital market has better performance with respect to yield and the risk is discarded because it does not match the obtained results.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:124:984941
Study programmeTitle: Business Studies
Study programme type: university
Study level: graduate
Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2018-11-20 18:03:18