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008			240528b |||||||| |||| 00| 0 eng d
022			_a2319510X
040			_aMSU _bEnglish _cMSU _erda
050	0	0	_aHD30.4ASI
100	1		_aGupta, Mohit _eauthor
245	1	0	_aNaïve versus mean-variance diversification in Indian capital markets _ccreated by Mohit Gupta and Navdeep Aggarwal
264	1		_aLos Angeles: _bSage, _c2015.
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aAsia-Pacific journal of management research and innovation _vVolume 11, number 3
520	3		_aMarkowitz’s mean-variance efficiency theory brought tremendous opportunities for portfolio managers, as now they are able to understand deeply the relationship between expected risk and return of the portfolios. Several models were developed based on mean-variance framework, but all of them suffered on account of either parameter estimation problem or psychological biasness in favour of simple portfolio strategies like naïve diversification. Much of the research evidence has proved that naïve diversification has either outperformed or not significantly underperformed as compared to mean-variance framework. In the present study, we compared the mean-variant efficient portfolios with stock portfolios on the basis of naïve diversification for the 15-year period and across all market capitalisation stock sets. Performance-wise naïve diversified portfolios dominated, although not statistically, the mean-variant portfolios especially in mid cap and small cap stock sets. Similar results were obtained for return per unit of risk. The study adds the role played by market capitalisation in already existing literature on naïve diversification.
650			_aMean-variance efficiency _vNaïve diversification _xPortfolio-Management _zIndia
700	1		_aAggarwal, Navdeep _eco author
856			_uhttps://doi.org/10.1177/2319510X15588382
942			_2lcc _cJA
999			_c165694 _d165694