Modern portfolio theory is designed to optimize return for a given level of variance across a spectrum of investment opportunities. The ability to monitor and optimize a portfolio gives rise to the ...

The Journal of Finance publishes leading research across all the major fields of financial research. It is the most widely cited academic journal on finance and one of the most widely cited journals ...

This paper is concerned with the problem of optimizing the structure of assets and liabilities of the property-liability insurer. The research is empirical and seeks to provide some preliminary ...