Empirical studies document that equity portfolios constructed to have the lowest possible risk have surprisingly high average returns. We derive an analytic solution for the long-only minimum variance portfolio under the assumption of a single-factor covariance matrix. The equation for optimal...

Universities are now responsible for economic and social development. This new mission is transforming the traditional university into an entrepreneurial university. This entrepreneurial activity has mainly been carried out by transferring technology to industry, in particular, by patenting.The...