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Ekonomski horizonti
2018, vol. 20, br. 2, str. 173-187
jezik rada: engleski, srpski
vrsta rada: pregledni članak
objavljeno: 30/08/2018
doi: 10.5937/ekonhor1802173L
Creative Commons License 4.0
Diversifikacija kao investiciona strategija smanjenja rizika ulaganja
Univerzitet u Kragujevcu, Fakultet za hotelijerstvo i turizam, Vrnjačka Banja

e-adresa: m.lekovic@kg.ac.rs

Sažetak

Fakultet za hotelijerstvo i turizam u Vrnjačkoj Banji Univerziteta u Kragujevcu Diversifikacija je opšteprihvaćena investiciona strategija koja ima za cilj smanjenje neizvesnosti ulaganja uz zadržavanje nepromenjenog očekivanog prinosa ulaganja. Razvoj diversifikacije ulaganja odvijao se paralelno sa razvojem portfolio teorije. U vreme važenja tradicionalne portfolio teorije, primenjivana je prosta diversifikacija ulaganja koja je, usled zanemarivanja korelacije među prinosima različitih investicionih plasmana, sa pojavom savremene portfolio teorije odbačena i zamenjena efikasnom diversifikacijom. Svrha istraživanja je uporedna analiza proste i efikasne diversifikacije ulaganja, uz neizbežno analiziranje optimalnog broja hartija od vrednosti u sastavu portfolija i ispitivanje opravdanosti primene međunarodne diversifikacije ulaganja. Primenom kvalitativne metodologije istraživanja zaključeno je da su koristi od međunarodne diversifikacije ulaganja još uvek respektabilne i da nadmašuju prateća ograničenja, kao i da broj hartija od vrednosti u sastavu portfolija treba povećavati sve dok se marginalne koristi od diversifikacije, u vidu smanjenog rizika ulaganja, ne izjednače sa marginalnim troškovima, u smislu povećanih troškova upravljanja portfoliom, što predstavlja glavni rezultat istraživanja.

Ključne reči

prosta diversifikacija; efikasna diversifikacija; nacionalna diversifikacija; međunarodna diversifikacija

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