It is argued that construction is an important sector of the Welsh economy in terms of employment, wages and growth. Key competence and capacity issues have arisen, however, due to large contracting firms concentrating on core activities and subcontracting peripheral activities to Small...

[...]We recommend that a study incorporating our suggested refinements should now take place into a furthergroup of sectors of interest to policy makers to test further the framework and any improvements builtinto it.[...]

Der vorliegende Beitrag zeigt verschiedene Möglichkeiten auf, um repräsentative Renditen für die Anlageklasse Immobilien berechnen zu können. Betrachtet werden Indizes auf der Basis (i) von regelmäßig bewerteter Immobilienportefeuilles, (ii) auf Basis von Markttransaktionen in Immobilien...

Due to the recent downturn in international equity markets, the interest in real-estate investments has soared. However, the well-known problems of direct real-estate investments complicate becoming well-diversified with this investment class. Indirect real-estate investments can provide a...

As past research suggest, currency exposure risk is a main source of overall risk of internationaldiversified portfolios. Thus, controlling the currency risk is an important instrument forcontrolling and improving investment performance of international investments. This studyexamines the...

Estimation risk is known to have a huge impact on mean/variance (MV) optimized portfolios,which is one of the primary reasons to make standard Markowitz optimization unfeasible inpractice. Several approaches to incorporate estimation risk into portfolio selection are suggestedin the earlier...

The authors determine, whether adding foreign assets to a domestic benchmark portfolio improves the risk-return profile from the perspective ofan investor located in a specific country. Here Hungary and Germany.