File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: A multi-dimensional decision framework to support corporate bond investment

TitleA multi-dimensional decision framework to support corporate bond investment
Authors
KeywordsAnalytic Hierarchy Process
Corporate Bond Investment
Multi-Dimensional Decision Framework
Issue Date2012
Citation
Journal Of Decision Systems, 2012, v. 21 n. 2, p. 161-170 How to Cite?
AbstractThis paper constructs a multi-dimensional decision framework to support investment in corporate bonds. The Analytic Hierarchy Process (AHP) is first customized to accommodate six fundamental criteria governing investor behaviour. It is then shown that, after pairwise comparison of criteria and asset alternatives at appropriate framework levels, a set of weights can be calculated to prioritize the different bonds and allocate wealth over a portfolio which is best in terms of judgmental conformity with the individual's investment goal and investment criteria. Apart from the practical advantages following from ready operationalization and computation, our framework is analytically grounded on the Nobel Prize-winning paradigms of bounded rationality and rational expectations. In particular, an index can be obtained to test for sufficient decision consistency on the part of the bounded-rational individual, and a method is offered to rationally and operationally model changes in investor preferences, perceptions, and expectations under market dynamics and the impact of such changes on the demand for corporate bonds. © 2012 Taylor & Francis.
Persistent Identifierhttp://hdl.handle.net/10722/177801
ISSN
2015 SCImago Journal Rankings: 0.272
References

 

DC FieldValueLanguage
dc.contributor.authorLiao, Zen_US
dc.contributor.authorCheung, MTen_US
dc.date.accessioned2012-12-19T09:39:56Z-
dc.date.available2012-12-19T09:39:56Z-
dc.date.issued2012en_US
dc.identifier.citationJournal Of Decision Systems, 2012, v. 21 n. 2, p. 161-170en_US
dc.identifier.issn1246-0125en_US
dc.identifier.urihttp://hdl.handle.net/10722/177801-
dc.description.abstractThis paper constructs a multi-dimensional decision framework to support investment in corporate bonds. The Analytic Hierarchy Process (AHP) is first customized to accommodate six fundamental criteria governing investor behaviour. It is then shown that, after pairwise comparison of criteria and asset alternatives at appropriate framework levels, a set of weights can be calculated to prioritize the different bonds and allocate wealth over a portfolio which is best in terms of judgmental conformity with the individual's investment goal and investment criteria. Apart from the practical advantages following from ready operationalization and computation, our framework is analytically grounded on the Nobel Prize-winning paradigms of bounded rationality and rational expectations. In particular, an index can be obtained to test for sufficient decision consistency on the part of the bounded-rational individual, and a method is offered to rationally and operationally model changes in investor preferences, perceptions, and expectations under market dynamics and the impact of such changes on the demand for corporate bonds. © 2012 Taylor & Francis.en_US
dc.languageengen_US
dc.relation.ispartofJournal of Decision Systemsen_US
dc.subjectAnalytic Hierarchy Processen_US
dc.subjectCorporate Bond Investmenten_US
dc.subjectMulti-Dimensional Decision Frameworken_US
dc.titleA multi-dimensional decision framework to support corporate bond investmenten_US
dc.typeArticleen_US
dc.identifier.emailCheung, MT: tmcheung@hkucc.hku.hken_US
dc.identifier.authorityCheung, MT=rp01054en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1080/l2460125.2012.680355en_US
dc.identifier.scopuseid_2-s2.0-84866278772en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-84866278772&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume21en_US
dc.identifier.issue2en_US
dc.identifier.spage161en_US
dc.identifier.epage170en_US
dc.publisher.placeFranceen_US
dc.identifier.scopusauthoridLiao, Z=7203032568en_US
dc.identifier.scopusauthoridCheung, MT=7201897422en_US

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats