diplomsko delo
Izak Ravnak (Author), Vesna Čančer (Mentor)

Abstract

Zaradi hitrega tehnološkega razvoja se dandanes za vlaganje na delniških trgih odloča vse več posameznikov. Mnogi izmed njih so laiki in svoje odločitve sprejemajo na podlagi različnih strategij ter finančnih indikatorjev, ki jih ne poznajo dovolj dobro. V diplomskem delu smo s pomočjo različnih tehnik odločanja po več kriterijih hkrati prikazali, kako lahko različna interpretacija finančnih indikatorjev vpliva na končno odločitev posameznih odločevalcev. Definirali smo dva vlagatelja z različnimi preferencami, ki sta v nadaljevanju izbirala med dvajsetimi različnimi delnicami in jih deset uvrstila v portfelj. Zanimalo nas je, kolikšen delež portfeljev obeh vlagateljev bodo sestavljale iste delnice. Za dobro in pravilno razumevanje smo najprej podrobneje opisali vse finančne indikatorje, ki smo jih v nadaljevanju uporabili pri reševanju problema. Te smo razdelili na več skupin, prav tako pa smo opisali, kako bosta posamezne indikatorje interpretirala oba vlagatelja. Zatem smo predstavili osnovne značilnosti delnic in koncept diverzifikacije vlagateljevega delniškega portfelja. Ker obstaja veliko različnih definicij posameznih gospodarskih sektorjev, v katere spadajo podjetja, smo v diplomskem delu za namene ločevanja različnih sektorjev izbrali uradno klasifikacijo GICS in jo nekoliko podrobneje predstavili. Ker smo problem rešili s pomočjo metod odločanja po več kriterijih hkrati, smo predstavili tudi zgodovino in razvoj različnih metod; tiste, ki smo jih v nadaljevanju uporabili, pa smo tudi podrobneje opisali. Nato smo se lotili sistematičnega reševanja problema z vključitvijo več postopnih korakov. Ko smo problem definirali in izločili vse neustrezne alternative, smo ga za boljšo preglednost tudi hierarhično strukturirali. Sledilo je določanje vrednosti alternativ glede na posamezne kriterije, v okviru česar smo prikazali interpretacijo posameznih finančnih indikatorjev s strani obeh vlagateljev. Potem ko smo vsem kriterijem določili uteži, smo alternative (delnice) razvrstili glede na njihovo končno vrednost in analizirali portfelja obeh vlagateljev.

Keywords

delnice;portfolio;finančno tveganje;finančni indikatorji;večkriterijsko odločanje;

Data

Language: Slovenian
Year of publishing:
Typology: 2.11 - Undergraduate Thesis
Organization: UM EPF - Faculty of Economics and Business
Publisher: I. Ravnak
UDC: 336.763.2:519.8
COBISS: 156265987 Link will open in a new window
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Other data

Secondary language: English
Secondary title: Financial indicators and their impact on stock portfolio composition in the process of multi-criteria decision making
Secondary abstract: Due to fast technological development, nowadays a lot more individuals are willing to invest in the stock markets. Many of them are not experts and they make their decisions based on different strategies and financial indicators which they do not fully understand. In this bachelor thesis, we used different Multi-Criteria Decision Making techniques and methods to show, to what extent a different interpretation of financial indicators by individual decisionmakers, can influence the final stock portfolio composition. We defined two investors with different preferences who had to choose between twenty stocks, of which ten would be included in the stock portfolio. We wanted to know how many of the same stocks both portfolios would include. In order to fully understand all financial indicators that were later used to solve our problem, we thoroughly described them. We divided them into several groups and explained how individual indicators will be interpreted by the two investors. We later described basic characteristics of stocks and explained the concept of diversification of investor's stock portfolio. Because there are a lot of different definitions of economic sectors into which we can divide different companies, we decided to divide them according to the GICS classification, which we decribed thoroughly. Due to the fact that we used Multi-Criteria Decision Making methods when solving our problem, we also presented a bit of history and evolution of the methods that we used. Process of solving our problem involved several steps proposed by the experts, that enabled us to tackle the problem systematically. After we thoroughly defined the problem, criteria and alternatives, we eliminated all those alternatives that were found unacceptable. During the third step, we structured the problem hierarchically to make it more transparent. To show different interpretations of the criteria by the two investors, we defined values of alternatives based on every individual criteria by using value functions. Next step included determining weights of all criterias which gave us their aggregated values. Based on the aggregated values, we ranked the alternatives of both investors and analysed their portfolios.
Secondary keywords: stocks;portfolio;multi-criteria decision making;financial indicators;risk;
Type (COBISS): Bachelor thesis/paper
Thesis comment: Univ. v Mariboru, Ekonomsko-poslovna fak.
Pages: III, 66 str., 5 str. pril.
ID: 16322726