SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD

For the last five years capitalization of joint stock companies in Russia nearly doubled while the major indicator of stock market  development, i. e. MISEX index – increased more than in 1,5 times.  In spite of such favourable conditions for the development of  portfolio investment mutual investmen...

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Autores principales: Svyatoslav N. Digo, Aleksandra M. Sokolova
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Lenguaje:RU
Publicado: Plekhanov Russian University of Economics 2018
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Acceso en línea:https://doaj.org/article/73d1aa0bf55d4eb1aee8bc835347d20f
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spelling oai:doaj.org-article:73d1aa0bf55d4eb1aee8bc835347d20f2021-11-15T05:20:46ZSHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD2413-28292587-925110.21686/2413-2829-2018-1-75-89https://doaj.org/article/73d1aa0bf55d4eb1aee8bc835347d20f2018-02-01T00:00:00Zhttps://vest.rea.ru/jour/article/view/433https://doaj.org/toc/2413-2829https://doaj.org/toc/2587-9251For the last five years capitalization of joint stock companies in Russia nearly doubled while the major indicator of stock market  development, i. e. MISEX index – increased more than in 1,5 times.  In spite of such favourable conditions for the development of  portfolio investment mutual investment funds, whose investment is  mainly shares demonstrate low effectiveness. In 2015 the growth in  investment funds profitability showed 30,82% (in average), while  MISEX index grew by 28,72%. If we take into account that  commission rates with purchase and redemption reach 3,5%, while  with purchase of exchange investment fund – 1%, then investor  profitability, who entrusted his/her money to investment company or just invested it in index will be equal. Thus securities market needs more effective methods and algorithms of shaping the stock portfolio, as investor’s expectations of getting profits could be met  only in case of professional choice of investment projects. The article puts forward a new express method of selecting shares to the  portfolio called the method of investment rating. This method is  based on developing logistic regression. It provides an opportunity to analyze share price of all issuers with the help of the programmed  algorithm taking into account not only principle shares’  characteristics (risk and profitability) but the impact of other variables connected with finance and business work of the issuer and his market figures. The authors described economic and mathematic  aspect of the process of giving an investment grade and tested the method of investment rating on the Russian securities market.Svyatoslav N. DigoAleksandra M. SokolovaPlekhanov Russian University of Economicsarticlefundamental analysisjust share pricelogistic regressioninvestment ratingoptimization of the stock portfolio structureEconomics as a scienceHB71-74RUВестник Российского экономического университета имени Г. В. Плеханова, Vol 0, Iss 1, Pp 75-89 (2018)
institution DOAJ
collection DOAJ
language RU
topic fundamental analysis
just share price
logistic regression
investment rating
optimization of the stock portfolio structure
Economics as a science
HB71-74
spellingShingle fundamental analysis
just share price
logistic regression
investment rating
optimization of the stock portfolio structure
Economics as a science
HB71-74
Svyatoslav N. Digo
Aleksandra M. Sokolova
SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
description For the last five years capitalization of joint stock companies in Russia nearly doubled while the major indicator of stock market  development, i. e. MISEX index – increased more than in 1,5 times.  In spite of such favourable conditions for the development of  portfolio investment mutual investment funds, whose investment is  mainly shares demonstrate low effectiveness. In 2015 the growth in  investment funds profitability showed 30,82% (in average), while  MISEX index grew by 28,72%. If we take into account that  commission rates with purchase and redemption reach 3,5%, while  with purchase of exchange investment fund – 1%, then investor  profitability, who entrusted his/her money to investment company or just invested it in index will be equal. Thus securities market needs more effective methods and algorithms of shaping the stock portfolio, as investor’s expectations of getting profits could be met  only in case of professional choice of investment projects. The article puts forward a new express method of selecting shares to the  portfolio called the method of investment rating. This method is  based on developing logistic regression. It provides an opportunity to analyze share price of all issuers with the help of the programmed  algorithm taking into account not only principle shares’  characteristics (risk and profitability) but the impact of other variables connected with finance and business work of the issuer and his market figures. The authors described economic and mathematic  aspect of the process of giving an investment grade and tested the method of investment rating on the Russian securities market.
format article
author Svyatoslav N. Digo
Aleksandra M. Sokolova
author_facet Svyatoslav N. Digo
Aleksandra M. Sokolova
author_sort Svyatoslav N. Digo
title SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
title_short SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
title_full SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
title_fullStr SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
title_full_unstemmed SHAPING THE STOCK PORTFOLIO BY THE INVESTMENT RATING METHOD
title_sort shaping the stock portfolio by the investment rating method
publisher Plekhanov Russian University of Economics
publishDate 2018
url https://doaj.org/article/73d1aa0bf55d4eb1aee8bc835347d20f
work_keys_str_mv AT svyatoslavndigo shapingthestockportfoliobytheinvestmentratingmethod
AT aleksandramsokolova shapingthestockportfoliobytheinvestmentratingmethod
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