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Ekonomski horizonti
2012, vol. 14, br. 3, str. 151-164
jezik rada: srpski, engleski
vrsta rada: pregledni članak
doi:10.5937/ekonhor1203151J


Upravljanje rizicima portfolija hartija od vrednosti
Univerzitet u Kragujevcu, Ekonomski fakultet

e-adresa: milenaj@kg.ac.rs

Projekat

Preklinička ispitivanja bioaktivnih supstanci (MPNTR - 41010)

Sažetak

Ulaganje novčanih sredstava u različite oblike finansijske aktive motivisano je očekivanjem investitora da ostvari prinos. Budući da očekivani prinos nije uvek izvestan, investitor se suočava sa rizikom da njegovo ulaganje neće dati rezultate u skladu sa očekivanjima. Stoga, sagledavanje rizika kojim je opterećen konkretan plasman ne sme biti zanemareno ili prepušteno intuiciji. Pogrešne procene rizika za posledicu mogu imati izostanak očekivanog prinosa ili gubitak uloženog kapitala. Globalna finansijska kriza je ukazala na moguće posledice odsustva sveobuhvatnog upravljanja rizicima, odnosno, neadekvatnog uočavanja svih rizika i njihove međuzavisnosti. U radu se analizira sistem upravljanja rizicima koji podrazumeva rano identifikovanje, procenu, merenje i kontrolu rizika. Istovremeno, razmatraju se modeli koji obezbeđuju efikasnu diversifikaciju portfolija u funkciji smanjenja rizika investiranja. Ukazuje se na to da upravljanje rizicima zahteva fleksibilnost procesa bez krutog oslanjanja samo na matematičke modele, koji nisu uspeli da identifikuju rast sistemskog rizika.

Ključne reči

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