A popular argument states that most of the diversification in a portfolio can be obtained with a rather small number of securities. In this paper we present three algorithms to approach the underlying NP-hard problem of portfolio optimization with a cardinality constraint. All three of these...

This article analyzes the determinants of capital structure of Tunisian companies in the light of various financial theories. We test empirically with a panel data approach, the three main theoretical frameworks addressing the capital structure of company; the Trade-off Theory, the Pecking Order...

This study analyzes the market timing skill of Socially Responsible Investing (SRI) fund managers of North America and Europe. We use a broad sample of 248 North American and 500 European SRI funds for the period of January 2001 - December 2011. Our result indicates that market timing skill...