Economic Archive

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  Opportunities to Improve the Portfolio Performance Based on Dividend Strategies and Equity Home Bias

  The article examines the equity home bias puzzle and the "Dogs of the Dow" dividend strategy under conditions of the Bulgarian capital market. It was found out that local investors hold 74.1% of their portfolios in domestic stocks, although ICAPM suggests weight of 0.007%, and the "Dogs of the Dow" strategy generates annual risk-adjusted ... The article examines the equity home bias puzzle and the "Dogs of the Dow" dividend strategy under conditions of the Bulgarian capital market. It was found out that local investors hold 74.1% of their portfolios in domestic stocks, although ICAPM suggests weight of 0.007%, and the "Dogs of the Dow" strategy generates annual risk-adjusted hyper-profitability of 11.18%. Following the dividend strategy, combined with good international diversification provides good opportunities to improve portfolio performance.

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  Guidelines for Analysing the Financial Statements of Bulgarian Publicly Traded Insurance Companies

  Financial statements provide information necessary to analyse and assess the financial position of publicly traded companies. Information users include a wide range of entities, such as creditors, suppliers, customers, investors, external control bodies, etc. This paper promotes the thesis that the information disclosed in financial statements ... Financial statements provide information necessary to analyse and assess the financial position of publicly traded companies. Information users include a wide range of entities, such as creditors, suppliers, customers, investors, external control bodies, etc. This paper promotes the thesis that the information disclosed in financial statements helps investors in their decision to invest in the shares of publicly traded companies. A precise analysis of financial statements may result in a decision to purchase, not to purchase, or to sell some of the stocks of the companies which are subject to analysis. The article focuses on publicly traded companies in the insurance sector.

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  Virtuality of Fictitious Capital in Modern Conditions

  The article discusses "financialization" – the process of transformation of financial capital into fictitious and virtual capital and its separation from the real manufacturing sector. It shows a tremendous growth in the financial sector in the last decades of the 20th century and the beginning of the new century and growing segmentation of ... The article discusses "financialization" – the process of transformation of financial capital into fictitious and virtual capital and its separation from the real manufacturing sector. It shows a tremendous growth in the financial sector in the last decades of the 20th century and the beginning of the new century and growing segmentation of financial instruments due to financial innovations, aimed, among other things, at evading government regulations, which increase their influence on the trends in the real and financial sector, leading to the creation of conditions for the emergence of financial crises and financial "bubbles". We study the market of derivative securities, its dynamics and impact on the economy of Ukraine.