A multiple criteria decision-making approach for the selection of stocks

Xidonas, P; Mavrotas, G; Psarras, J

dc.contributor.author	Xidonas, P	en
dc.contributor.author	Mavrotas, G	en
dc.contributor.author	Psarras, J	en
dc.date.accessioned	2014-03-01T01:32:28Z
dc.date.available	2014-03-01T01:32:28Z
dc.date.issued	2010	en
dc.identifier.issn	0160-5682	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/20148
dc.subject	application	en
dc.subject	bibliographic review	en
dc.subject	multiple criteria decision making	en
dc.subject	portfolio management	en
dc.subject	stock selection	en
dc.subject.classification	Management	en
dc.subject.classification	Operations Research & Management Science	en
dc.subject.other	Decision makers	en
dc.subject.other	Decision process	en
dc.subject.other	Fundamental principles	en
dc.subject.other	Main characteristics	en
dc.subject.other	Methodological approach	en
dc.subject.other	Multiple criteria decision making	en
dc.subject.other	portfolio management	en
dc.subject.other	Portfolio managements	en
dc.subject.other	Portfolio selection	en
dc.subject.other	Portfolio theories	en
dc.subject.other	Stock exchange	en
dc.subject.other	Decision theory	en
dc.subject.other	Financial data processing	en
dc.subject.other	Investments	en
dc.subject.other	Decision making	en
dc.title	A multiple criteria decision-making approach for the selection of stocks	en
heal.type	journalArticle	en
heal.identifier.primary	10.1057/jors.2009.74	en
heal.identifier.secondary	http://dx.doi.org/10.1057/jors.2009.74	en
heal.language	English	en
heal.publicationDate	2010	en
heal.abstract	A fundamental principle of modern portfolio theory is that portfolio selection decisions are generally made using two criteria, corresponding to the first two moments of return distributions, namely the expected return-portfolio variance. One criticism over this theory, which has often been addressed both by practitioners and academics, is that it fails to embody all the decision-maker's objectives, through the various stages of the decision process. The aim of this paper is to present an alternative methodological approach for modeling one of the most crucial phases of the portfolio management process, the security selection phase. The main characteristic of the proposed approach is that it fully takes into account the inherent multi-dimensional nature of the problem, although allowing the decision-maker to incorporate his preferences in the decision process. The validity of the proposed approach is tested through an illustrative application in Athens Stock Exchange. Besides, a detailed categorized bibliography is provided, relative to the application of the techniques of multiple criteria decision making to the problems and issues of portfolio management. Journal of the Operational Research Society (2010) 61, 1273-1287. doi: 10.1057/jors.2009.74 Published online 5 August 2009	en
heal.publisher	PALGRAVE MACMILLAN LTD	en
heal.journalName	Journal of the Operational Research Society	en
dc.identifier.doi	10.1057/jors.2009.74	en
dc.identifier.isi	ISI:000280099900008	en
dc.identifier.volume	61	en
dc.identifier.issue	8	en
dc.identifier.spage	1273	en
dc.identifier.epage	1287	en