Επενδυτικές στρατηγικές με βάση την ηλικία

Παραβατός, Λουκάς

Life-cycle investment strategies

Master Thesis

Author

Παραβατός, Λουκάς

Date

2021-01

Abstract

This thesis aims to present the importance of age in investment decisions, and how investors optimize their portfolios. First, the importance of age is described through bibliographic research, using mathematical models. In the models, it is assumed that the investor can invest in two assets, stocks and bonds. The theory suggests that as investors grow older, their risk aversion increases, and they will shape their portfolios with fewer stocks because of the higher risk. Then, sensitivity analyses are made for the significance of human capital in the optimal distribution of shares in the portfolio, as well as for the flexible labor supply of the investor. Finally, simulations are performed, and exercises are solved in order to calculate the expected utility of the investor, for different distributions of shares in the portfolio, in order to examine the importance of the correlation between the returns of the shares and the labor income.

Postgraduate Studies Programme

Χρηματοοικονομική και Τραπεζική με κατεύθυνση στην Χρηματοοικονομική και Τραπεζική Διοικητική

Department

Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής Διοικητικής

Number of pages

Language

Greek

URI

https://dione.lib.unipi.gr/xmlui/handle/unipi/13356
http://dx.doi.org/10.26267/unipi_dione/779

Collections

Τμήμα Χρηματοοικονομικής και Τραπεζικής Διοικητικής

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Except where otherwise noted, this item's license is described as
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα