The Efficiency of Investing in Shares of Innovative Companies – the Case of Investment Funds Available in the Polish Market
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2018, Vol 79, Issue 2
Abstract
Given the growing interest of investors around the world in innovative companies, the purpose of the study described in this article is to examine the efficiency of investing in shares of companies with innovative characteristics by examining investment funds available in the Polish market. The efficiency of this investment strategy was measured using a number of assessment criteria used in risk-income analysis (expected rate of return, standard deviation, income per unit of risk) and specific portfolio management quality indicators (maximum drawdown, tracking error, additional rate of return, Jensen’s alpha, beta coefficient, information ratio and Sharpe’s ratio). The results obtained indicate that investments in innovative companies may be an interesting alternative to traditional forms of investment in the capital market.
Authors and Affiliations
Tomasz Nawrocki
Keywords
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- EP ID EP390034
- DOI 10.26349/zn.wsb.w.poznaniu.0079.09
- Views 125
- Downloads 0
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