In this article we examine whether the benchmark asset allocations recommended by financial planning groups for Australian private investors are optimal when measured against the mean-variance criterion of Modern Portfolio Theory. Using historical data for the relevant indices, the mean-variance...

The purpose of this paper is to determine whether self-managed superannuation fund (SMSF) trustees earn: the equity risk premium or any premium to the riskless rate of interest. Design/methodology/approach - Using a sample of 100 SMSFs, the average annual returns since inception of the funds in...

This paper presents an analysis of the mathematical models of the prevailing orthodoxy within the field of financial economics in light of the financial crisis. The financial crisis presents a challenge to the language of orthodox financial economics. From an Austrian perspective, this challenge...

[Abstract]: In this paper, a small preliminary sample of self managed superannuation funds (SMSFs) is investigated. The contents of the actual SMSF portfolios are examined and a number of microstructure features that characterise the SMSF portfolios are described. These empirical characteristics...

The mathematisation of economic theory is an issue that has been discussed many times. These discussions have been dominated by debate about the appropriateness of the deductive method for economics. This rather narrow focus has pushed a number of important methodological issues regarding the...

Analysis in this paper has proposed three potential motives for ethical investment - financial returns, non-wealth returns and social change. The motives are developed from the literature and illustrated in the context of a 'best of sector' fund and a socially screened fund. We find that the...