Non-governmental organizations have been active in Moldova since 1989, but a civil society started its today’s formation as a result of radical reforms in economic and political areas only after the country became independent in 1991. Since that time the establishment of a transitional civil...

This paper seeks the solution how to influence investors' behavior and their ability to invest responsibly. The aim is to extend the traditional approach to portfolio selection by adding ethical dimension to risk/return analysis. The first part of this study is a review of different methods of...

The Warsaw Stock Exchange is still an immature market. According to many articles dealing with the problem of applying risk assessment models to the Polish stock market, techniques like the CAPM are still inadequate for young, developing, illiquid markets like the Polish one. In this paper, we...

The application of the Capital Asset Pricing Model, which is a mean-variance technique, requires the distribution of stock returns to be symmetric. Securities traded on many emerging capital markets, including the Warsaw Stock Exchange (WSE), usually do not have such a feature. In these cases,...