Embora as atividades do pré-desenvolvimento sejam essenciais para o sucesso no desenvolvimento dos produtos, elas têm sido pouco efetivas no alcance dos seus objetivos. Uma das oportunidades para melhorá-las é a integração dos métodos usados no pré-desenvolvimento, os quais têm sido aplicados de forma isolada. Uma revisão bibliográfica mostrou que o technology roadmapping (TRM) e a gestão de portfólio se destacam entre os métodos usados no pré-desenvolvimento. Esse contexto motivou a investigação da pergunta de pesquisa: A aplicação integrada do technology roadmapping e da gestão de portfólio contribui com a realização das atividades do pré-desenvolvimento do PDP?. Assim este trabalho avalia o potencial dessa integração a partir de um estudo de caso em uma pequena empresa de base tecnológica. O estudo de caso utilizou um método desenvolvido pela pesquisa para aplicação integrada do technology roadmapping e da gestão de portfólio, o método ITG. Os resultados obtidos mostraram que a integração beneficiou o pré-desenvolvimento neste caso específico. Entre as contribuições notadas estão: aumento da eficácia do pré-desenvolvimento e o alinhamento das propostas de novos projetos de produtos com as estratégias do negócio, necessidades do mercado e capacidades tecnológicas. Portanto, a integração dos métodos parece constituir um tema com potencial para ajudar as empresas na realização das atividades do pré-desenvolvimento. / Although the front-end activities are critical to the success of NPD, they are in fact almost ineffective in practice. One opportunity to improve them is the integration of methods used in front-end, which have been applied stand-alone. A bibliographical review showed that technology roadmapping (TRM) and portfolio management are stand out methods for the front-end of NPD. This finding motivated the research question of our work: Can the integration of TRM and portfolio management contribute to improve the front-end of NPD? Hence, this work evaluates the potential of this integration based on a case study at a small technology-based company. The study applied a method built in research for integrated application of technology roadmapping and portfolio management, the ITG method. In this specific case, the front-end of NPD benefited from the integration. Among the contributions are: the rising of front-end effectiveness and the alignment of new product project proposals with business strategies, market wants and technological capabilities. Therefore, the methods integration appears to constitute a productive field to help companies in the activities of the NPD front-end.

Na última década, o crescimento da aviação, aliado aos insuficientes investimentos em infraestrutura, resultou na necessidade de ampliação e modernização dos aeroportos, o que fez com que o Governo Federal desse início ao seu ao plano de concessão de seus principais aeroportos. Este trabalho tem como objetivo analisar os processos de seleção, priorização e acompanhamento da carteira de projetos de um aeroporto concessionado à luz da teoria de gestão de portfólio de projetos, a fim de contribuir com a melhoria de seus procedimentos internos, conferindo maior competitividade e produtividade à organização. O desenvolvimento da proposta é feito com base nas análises realizadas a partir da triangulação de fontes de evidência coletadas (observação, entrevistas e fundamentação teórica). A triangulação visou a obter subsídios para a elaboração de uma proposta para o processo de seleção, priorização e acompanhamento de projetos, capaz de promover o alinhamento com os objetivos de negócio da concessionária e contribuir com a governança e transparência do processo, adequada às particularidades da indústria. A proposta também buscou identificar critérios de avaliação e priorização de projetos adaptada às necessidades da empresa, bem como trabalhar a questão da manutenção e revisão da carteira de projetos. Este trabalho pretende contribuir para a construção do conhecimento a partir da ampliação de relatos sobre a seleção, priorização e manutenção de projetos em aeroportos brasileiros, além de colaborar para que empresas e profissionais em situações similares possam obter auxílio e realizar associações no entendimento de outros casos. / Over the past decade, the growth of the aviation sector, coupled with insufficient infrastructure investment, resulted in the need for expansion and modernization of airports, causing the Federal Government to initiate its concession plan for its main airports in Brazil. This paper aims to analyze the selection, prioritization and monitoring processes of the project portfolio of an airport concession in the light of the project portfolio management theory, in order to contribute to the improvement of its internal procedures, boosting the company\'s competitiveness and productivity. The development of the proposal is based on analyses of three sources of evidence: observation, interviews and literature. These analyses intended to support the development of a proposal for the processes of selection, prioritization and monitoring of projects, which should be suitable for the characteristics of the industry and in line with the concessionaire\'s business objectives, improving governance and transparency. The proposal also sought to identify criteria for the assessment and prioritization of projects tailored to the company\'s needs, as well as to work out the issue of maintenance and review of the project portfolio. This study seeks to help build knowledge from an increased number of reports on the selection, prioritization and maintenance of projects in Brazilian airports, and to collaborate with companies and professionals in similar situations, assisting them in applying this knowledge to better understand other cases

The Market Timing - Buy and Hold (MT-BH) is introduced, tested against widely accepted performance models of market timing and tested if implamentation is possible. The MT-BH metric measures the condition of engaging in market timing strategies relative to buy and hold investing across an equity market. The metric provides an alternative explanation to why market timing results of investors and managers vary through time and across different equity markets. This dissertation examines how the is correlated with traditional market timing measures of the Treynor and Sharpe ratios over the 1995-2010 time period and how it affects widely used measures of regression based market timing models of Treynor- Mazuy and Henriksson-Merton. The Market Timing - Buy and Hold (MT-BH) metric can be applied to any equity market over any time period to condition the market timing skill of money managers in any equity market around the world. The final accomplishment of this dissertation is to determine if readily available finance and macro-economic variables can help investors determine which years are more favorable to pursue market timing strategies and which years favor buy and hold investing. When real GDP growth rates, inflation rates and PE ratios were low or negative and when dividend yields were high, market timing strategies were favorable across 44 country market indexes from 1994-2008. These results were robust to country level of development, negative market return years and other control variables. The conditions for pursing market timing strategies were time variant and detectable with macro-economic and finance variables. The MT-BH metric allows investors and brokers to determine when to switch from buy and hold investing to a market timing strategy using macro-economic and financial variables and helps to explain why market timing skill of managers is rarely found to be persistent. / by William Fount Johnson, III. / Thesis (Ph.D.)--Florida Atlantic University, 2011. / Includes bibliography. / Electronic reproduction. Boca Raton, Fla., 2011. Mode of access: World Wide Web.

I examine the presence of earnings management at pre-IPO and lockup periods. Motivated by significant post-lockup insider sales documented in prior research, I investigate whether insiders (managers and venture capitalists) inflate earnings around the lockup period in order to increase share price and maximize personal wealth from selling shares at lockup expiration. I also compare levels of earnings management in the pre-IPO and lockup periods with those in the post-lockup period. Prior research also documents that auditor quality mitigates earnings management behavior. I explore the impact of auditor quality in the unique setting of IPO lockups. ... Cross-sectional analysis reveals that my sample IPO firms also utilize real-activities manipulation, but only in the early pre-IPO period. The results are robust with respect to alternative abnormal accruals and real-activities measures. I also find that IPO firms that hire prestigious auditors experience less earnings management in the lockup period than firms with lower-quality auditors, after controlling for the monitoring role of venture capitalist and underwriter reputation. / by Lizhong Hao. / Thesis (Ph.D.)--Florida Atlantic University, 2013. / Includes bibliography. / Mode of access: World Wide Web. / System requirements: Adobe Reader.

Made available in DSpace on 2015-12-03T18:33:09Z (GMT). No. of bitstreams: 1 Roberto_Carlos_Madoglio1.pdf: 822251 bytes, checksum: c07141d6ae8ddc58faa83a1276053aa8 (MD5) Previous issue date: 2013-09-03 / Try to find strategies for investments are core in financial economics. The investment environment has become more complex. Earnings are the most important determinant of common stock prices and return on investments comes from capital apreciation and income.This paper presents a dividend oriented investing strategy with quantitative approach. Althrough strategy treats dividend as main criteria this paper have integrated others factors in the security selection process. So, the focus is not only on high dividend yields, but diversifying across all sectors making the income come from a broad spectrum of industries. Pattern of growth, company size and liquidity are added to analysis trying to find the best combination of characteristics for a stock. The ease of application was a main guide because quantitative models often involves usage of advanced mathematics, statiscs, and computer methods of which only a minority of investment community have a functional working knowledge. Despite the inherent limitations of back testing and simulating trading, this model has a potential large range of purpose. It coul be useful for Institutional investors, funds, as well as retails investors, always for long period investments / A busca por estrat??gias de investimentos ?? um tema fundamental para a economia financeira. O ambiente e as alternativas de investimento t??m se tornado cada vez mais complexos. O retorno de um investimento decorre n??o s?? da valoriza????o no pre??o da a????o, mas tamb??m dos rendimentos recebidos ao longo do tempo por esta a????o. Este trabalho apresenta uma estrat??gia de investimento orientada para os dividendos, com uma abordagem quantitativa. Embora a estrat??gia proposta trate do dividendo como principal crit??rio, outros fatores foram integrados ao processo de sele????o de ativos. Assim, o foco n??o foi o da busca por pap??is com maiores dividendos recebidos, mas tamb??m a diversifica????o por setores de modo que o investimento seja realizado abragendo um amplo espectro de ind??strias. Padr??o de crescimento, tamanho da empresa e a liquidez em bolsa foram tamb??m adicionados ?? an??lise, na tentativa de se encontrar a melhor combina????o de caracter??sticas de uma a????o. A facilidade de utiliza????o da estrat??gia apresentada foi uma diretriz para sua elabora????o, pois modelos quantitativos, muitas vezes envolvem o uso de matem??tica avan??ada, estat??stica e pesados sistemas informatizados, aos quais apenas uma minoria de comunidade de investimento tem o conhecimento de trabalho funcional. Apesar das limita????es inerentes de volta ensaios e simula????o de negocia????o, este modelo tem um potencial de grande variedade de prop??sitos. Ele poder?? ser ??til para os investidores institucionais, fundos de investimento bem como pequenos investidores, desde que objetivem investimento por longo prazo

O processo de evolução das técnicas de gestão de risco de crédito que vem ocorrendo no mercado financeiro nos últimos anos levou ao desenvolvimento de diversas metodologias de mensuração de risco de carteiras de crédito. Os principais modelos de risco de portfólio que se difundiram no setor bancário internacional têm aplicação restrita no Brasil, devido às características do nosso mercado de crédito. O objetivo desta pesquisa é propor um conjunto de procedimentos para mensurar o risco de portfólios de créditos concedidos por instituições financeiras a empresas, considerando a disponibilidade de dados do mercado de crédito brasileiro. O estudo foi realizado em duas etapas. Na primeira etapa foi desenvolvido um modelo de risco de crédito do tipo credit scoring, utilizando a técnica estatística da Regressão Logística. O modelo foi construído com base em uma amostra de empresas categorizadas como solventes ou insolventes. As variáveis explicativas que caracterizam a situação econômico-financeira das empresas são índices calculados a partir dos seus demonstrativos contábeis. Na segunda parte do trabalho foram apresentados os procedimentos para mensuração de risco de portfólios de crédito. Na abordagem proposta, as perdas das empresas são modeladas individualmente e os resultados são agregados para se obter as perdas totais do portfólio. Utilizando a técnica da simulação de Monte Carlo, são gerados milhares de cenários para a situação econômico-financeira futura das empresas da carteira. Os cenários gerados dão origem a possíveis valores de perda para as empresas e para o portfólio como um todo. O processo é ilustrado aplicando-se o modelo a um portfólio hipotético, construído com base nos dados das carteiras de crédito das instituições financeiras no Brasil. O modelo gera a distribuição das perdas da carteira de crédito, a partir da qual podem ser obtidas as medidas que quantificam o risco do portfólio e o capital econômico que deve ser alocado pela instituição. Os resultados obtidos indicam que o modelo proposto configura-se como uma alternativa que permite que o risco de carteiras de crédito de empresas seja mensurado no mercado brasileiro e ressaltam a importância da utilização de modelos de risco de crédito de portfólio na gestão de riscos das instituições financeiras. / The evolution of credit risk management techniques, which has occurred in the financial market in recent years, has led to the development of several methods to measure the credit risk of portfolios. The credit risk models that became popular in the international banking industry have limited application in Brazil due to the characteristics of our credit market. The objective of this research is to propose a set of procedures in order to measure the risk of banks\' corporate credit portfolios, considering the actual data available in the Brazilian credit market. The study was performed in two steps. In the first one, a credit scoring model was developed, using the statistical method of logistic regression. The model was based on a sample of companies classified either as solvent or insolvent. The variables that represent the financial situation of the companies are indices calculated from the financial statements. In the second step, the procedures defined to measure the credit portfolio risk were presented. In the proposed approach, the company losses are considered individually and then the results are consolidated to obtain the total loss of the portfolio. Using the Monte Carlo simulation, thousands of scenarios are generated in which the future financial situation of the companies belonging to the portfolio are considered. The scenarios generated give rise to possible loss values regarding the companies individually and the portfolio as a whole. The process is illustrated by applying the model to a hypothetical portfolio built based on the data of banks\' credit portfolios in Brazil. The model generates the loss distribution of the credit portfolio, from which measurements to quantify the risk of the portfolio, and the economic capital to be allocated by the financial institution can be obtained. The results indicate that the proposed model is an alternative to measure the credit risk of companies in the Brazilian market and highlight the importance of the application of credit risk portfolio modeling when performing risk managing in financial institutions.

O presente trabalho realizou um estudo das possibilidades de posicionamento do escritório de gerenciamento de projetos para contextos estratégicos dentro das organizações. A ênfase do estudo encontra-se em avaliar as dificuldades de se implementar estratégias corporativas através de projetos e a forma com a qual um escritório de gerenciamento de projetos pode, de forma prática, contribuir em processos de formação de portfólio de projetos dentro dos processos de planejamento estratégico e orçamentário das organizações. Como estratégia da pesquisa, foi desenvolvida uma revisão da literatura relacionada aos processos de planejamento estratégico e orçamentário, gestão de portfólio de projetos e das estruturas especialistas conhecidas na literatura especializada como escritórios de gerenciamento de projetos. Desta revisão estabelece-se um modelo de proposição teórica para a inserção de escritório de gerenciamento de projetos em contextos estratégicos. Em um estudo de caso, o trabalho apresenta a comparação dos principais elementos de referência da teoria com as evidências identificadas na prática. A realidade, neste particular contexto, propiciou a validação da aplicabilidade de alguns instrumentos disponíveis e as dificuldades de aplicação dos mesmos, permitindo confirmar a validade teórica do modelo proposto sob vários aspectos. Neste trabalho fez-se também o uso intensivo de conceitos da Cibernética organizacional e do modelo do VSM (Viable System Model), proposto por Stafford Beer. O VSM foi utilizado principalmente como ferramenta de análise e enquadramento do modelo teórico proposto com as evidências do estudo de caso. Muitos dos aspectos, problemas e relações causais apresentados no estudo de caso puderam ser avaliados de forma prática e demonstraram-se coerentes com a proposta de que os problemas de desempenho verificados nas organizações podem ser analisados sob a perspectiva da violação de algum princípio da Cibernética. / The current work presents a study over the positioning possibilities of project management offices in the organization\'s strategic environment. The emphasis of this study is on the assessment of the implementations difficulties of the strategies through projects and how a project management office can contribute to reduce these difficulties by supporting project portfolio selection under corporate strategic planning and budgeting processes. As a research strategy, a literature review was developed covering corporate strategic planning and budgeting processes, project portfolio management as well specialist organizational structures known as project management office. From this review, it was built a theory model proposition for project management office insertion on the corporate strategic environment. Through case study analysis, it is submited conclusions obtained from theory review against the identified practical evidences. In this particular research it was possible identify the applicability and difficulties of some available instruments and the proposed theory model was validated under many aspects. In addition, it was made an intensive use of concepts from the organizational Cybernetics\' theory and the viable system model - VSM, proposed by Stafford Beer. The VSM was useful as holistic analysis tool to categorize the proposed theory models against the evidences identified in the case study. Many aspects, problems and causal relationships presented in the case study were assessed in a practical way and proved consistency with the proposal that organizational performance problems could be analyzed under the perspective of some Cybernetic\'s principies violation.

O gerenciamento de portfólios de projetos é adotado por organizações para garantir que sejam priorizados e realizados os melhores projetos para atingir os objetivos estratégicos da organização e para haver um melhor planejamento do uso dos diversos recursos da organização para a execução dos projetos. O setor público tem características que o distingue do setor privado, o que reflete em como as organizações dos dois setores são gerenciadas. O objetivo deste trabalho, além de realizar uma revisão bibliográfica sobre o gerenciamento de portfólio no setor público, é estudar as características e ferramentas utilizadas no gerenciamento de portfólio de projetos no setor público em comparação com o setor privado. Para a realização deste estudo foram realizados estudos de caso em quatro empresas privadas de diversos setores e em quatro organizações públicas de diversas esferas de governo e de atuação. Nos estudos de caso, além da análise de documentação, foram realizadas entrevistas com profissionais de todas as organizações as quais foram transcritas e analisadas com auxílio do NVivo, um programa de análise qualitativa de dados. A análise dos dados levantados frente às proposições de pesquisa permitiu constatar que em ambos os setores o gerenciamento de portfólio de projetos tem como um de seus objetivos principais gerar um alinhamento entre os projetos realizados e os objetivos estratégicos pretendidos pela organização; as organizações do setor público, ao contrário do sugerido pela análise da literatura, possuem uma maior formalização dos seus processos de gerenciamento de portfólio de projetos; existe um indicativo que as ferramentas utilizadas em ambos os setores são semelhantes, sendo que a ferramenta de pontuação e ordenamento é uma das mais utilizadas nas organizações pesquisadas; as classes de critérios mais utilizadas para a seleção e priorização do portfólio no setor público são diferentes das classes de critérios utilizadas no setor privado; a classe de critérios \"financeira\" é a que possui maior quantidade de critérios no setor privado e menor quantidade no setor público, situação que se inverte com a classe \"social e ambiental\" que tem maior quantidade de critérios no setor público e menor número no setor privado; o setor público tem menor atenção ao gerenciamento de riscos do que o setor privado. Não foi possível concluir se há diferença entre a influência das partes interessadas internas e externas à organização no gerenciamento de portfólio nos setores analisados. / Project portfolio management is used by organizations to ensure that they prioritize and execute the best projects available to achieve the organization\'s strategic objectives and to better plan the use of their resources. The public sector has some characteristics that distinguish it from the private sector that influences how organizations in both sectors are managed. This work aims to carry out a bibliographic review on portfolio management in the public sector and also to compare the characteristics and tools of project portfolio management processes used in the public and private sector. In order to carry out this study, eight case studies were carried out, four in private companies from different sectors and four in public organizations from different government´s responsibility and regions. During the case studies, in addition to documentation analysis, interviews were conducted with organizations´ professionals, that were transcribed and analyzed using NVivo, a qualitative data analysis software. The analysis of the data collected in comparison to the research proposals showed that in both sectors the main goal of project portfolio management is to generate an alignment between the projects carried out and the strategic objectives pursued by the organization; on the contrary that were indicated by the literature review, public sector organizations have more formalized project portfolio management processes than private sector companies; there is an indication that organizations in both sectors use similar tools and the scoring and classification´s type is the most commonly used; the selection and prioritization criteria most used by public sector organizations are from different class than the most used by private sector organizations; the \"financial\" class of criteria is the one that has the biggest amount of criteria in the private sector and the smallest amount in the public sector, the opposite situation occurs in the \"social and environmental\" class that has the biggest amount of criteria in the public sector and the smallest amount in the private sector; public sector organizations are less concerned about risk management than private sector organizations. It wasn´t possible to infer if there is a difference in the influence\'s level between internal and external stakeholders in the project portfolio management\'s practices in the analyzed sectors.

Esta dissertação relata o estudo sobre os fatores críticos de sucesso do gerenciamento de portfolio de projetos em empresas que atuam no Brasil e também verifica os impactos sobre os resultados organizacionais. A pesquisa foi realizada através de um levantamento junto a profissionais engajados no gerenciamento de projetos que responderam a questionário elaborado a partir de revisão da literatura pertinente ao tema. Os fatores críticos de sucesso validados são: o alinhamento com a estratégia e o processo de gerenciamento de portfolio. Quanto aos impactos sobre os resultados, foi confirmado que o gerenciamento de portfolio impacta positivamente o gerenciamento dos projetos, a satisfação das partes interessadas e a maturidade em projetos. Embora a literatura tenha sido pesquisada, a linha mestra para a pesquisa, principalmente quanto ao processo de gerenciamento de portfolio, ficou centrada nas publicações do Instituto de Gerenciamento de Projetos, mais conhecido por PMI - Project Management Institute. / This dissertation reports the study about success key factors of project portfolio management in companies which act in Brazil and it also analyses the impacts on organizational results. The research was made through a survey applied to people engaged in project management activities whose answered to questionnaire that was elaborated since a review of the literature related to this subject. The validated success key factors are the following: alignment with strategy and the portfolio management process. About the impacts on the results, it was confirmed that portfolio management impacts positively in project management, in project stakeholder satisfaction and in project management maturity. Although an extensive part of literature was consulted, the main approach mainly to the portfolio management process was focused in PMI issues.

Kei-Keung Hung. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 127-128). / Abstract also in Chinese. / Abstract --- p.i / Acknowledgments --- p.iii / Chapter 1 --- Introduction --- p.1 / Chapter 1.1 --- Static Portfolio Techniques --- p.1 / Chapter 1.2 --- Neural Network Approach --- p.2 / Chapter 1.3 --- Contributions of this Thesis --- p.3 / Chapter 1.4 --- Application of this Research --- p.4 / Chapter 1.5 --- Organization of this Thesis --- p.4 / Chapter 2 --- Literature Review --- p.6 / Chapter 2.1 --- Standard Markowian Portfolio Optimization (SMPO) and Sharpe Ratio --- p.6 / Chapter 2.2 --- Downside Risk --- p.9 / Chapter 2.3 --- Augmented Lagrangian Method --- p.10 / Chapter 2.4 --- Adaptive Supervised Learning Decision (ASLD) System --- p.13 / Chapter I --- Static Portfolio Optimization Techniques --- p.19 / Chapter 3 --- Modified Portfolio Sharpe Ratio Maximization (MPSRM) --- p.20 / Chapter 3.1 --- Experiment Setting --- p.21 / Chapter 3.2 --- Downside Risk and Upside Volatility --- p.22 / Chapter 3.3 --- Investment Diversification --- p.24 / Chapter 3.4 --- Analysis of the Parameters H and B of MPSRM --- p.27 / Chapter 3.5 --- Risk Minimization with Control of Expected Return --- p.30 / Chapter 3.6 --- Return Maximization with Control of Expected Downside Risk --- p.32 / Chapter 4 --- Variations of Modified Portfolio Sharpe Ratio Maximization --- p.34 / Chapter 4.1 --- Soft-max Version of Modified Portfolio Sharpe Ratio Maximization (SMP- SRM) --- p.35 / Chapter 4.1.1 --- Applying Soft-max Technique to Modified Portfolio Sharpe Ratio Maximization (SMPSRM) --- p.35 / Chapter 4.1.2 --- Risk Minimization with Control of Expected Return --- p.37 / Chapter 4.1.3 --- Return Maximization with Control of Expected Downside Risk --- p.38 / Chapter 4.2 --- Soft-max Version of MPSRM with Entropy-like Regularization Term (SMPSRM-E) --- p.39 / Chapter 4.2.1 --- Using Entropy-like Regularization term in Soft-max version of Modified Portfolio Sharpe Ratio Maximization (SMPSRM-E) --- p.39 / Chapter 4.2.2 --- Risk Minimization with Control of Expected Return --- p.41 / Chapter 4.2.3 --- Return Maximization with Control of Expected Downside Risk --- p.43 / Chapter 4.3 --- Analysis of Parameters in SMPSRM and SMPSRM-E --- p.44 / Chapter II --- Neural Network Approach --- p.48 / Chapter 5 --- Investment on a Foreign Exchange Market using ASLD system --- p.49 / Chapter 5.1 --- Investment on A Foreign Exchange Portfolio --- p.49 / Chapter 5.2 --- Two Important Issues Revisited --- p.51 / Chapter 6 --- Investment on Stock market using ASLD System --- p.54 / Chapter 6.1 --- Investment on Hong Kong Hang Seng Index --- p.54 / Chapter 6.1.1 --- Performance of the Original ASLD System --- p.54 / Chapter 6.1.2 --- Performances After Adding Several Heuristic Strategies --- p.55 / Chapter 6.2 --- Investment on Six Different Stock Indexes --- p.61 / Chapter 6.2.1 --- Structure and Operation of the New System --- p.62 / Chapter 6.2.2 --- Experimental Results --- p.63 / Chapter III --- Combination of Static Portfolio Optimization techniques with Neural Network Approach --- p.67 / Chapter 7 --- Combining the ASLD system with Different Portfolio Optimizations --- p.68 / Chapter 7.1 --- Structure and Operation of the New System --- p.69 / Chapter 7.2 --- Combined with the Standard Markowian Portfolio Optimization (SMPO) --- p.70 / Chapter 7.3 --- Combined with the Modified Portfolio Sharpe Ratio Maximization (MP- SRM) --- p.72 / Chapter 7.4 --- Combined with the MPSRM ´ؤ Risk Minimization with Control of Ex- pected Return --- p.74 / Chapter 7.5 --- Combined with the MPSRM ´ؤ Return Maximization with Control of Expected Downside Risk --- p.76 / Chapter 7.6 --- Combined with the Soft-max Version of MPSRM (SMPSRM) --- p.77 / Chapter 7.7 --- Combined with the SMPSRM - Risk Minimization with Control of Ex- pected Return --- p.79 / Chapter 7.8 --- Combined with the SMPSRM ´ؤ Return Maximization with Control of Expected Downside Risk --- p.80 / Chapter 7.9 --- Combined with the Soft-max Version of MPSRM with Entropy-like Reg- ularization Term (SMPSRM-E) --- p.82 / Chapter 7.10 --- Combined with the SMPSRM-E ´ؤ Risk Minimization with Control of Expected Return --- p.84 / Chapter 7.11 --- Combined with the SMPSRM-E ´ؤ Return Maximization with Control of Expected Downside Risk --- p.86 / Chapter IV --- Software Developed --- p.93 / Chapter 8 --- Windows Application Developed --- p.94 / Chapter 8.1 --- Decision on Platform and Programming Language --- p.94 / Chapter 8.2 --- System Design --- p.96 / Chapter 8.3 --- Operation of our program --- p.97 / Chapter 9 --- Conclusion --- p.103 / Chapter A --- Algorithm for Portfolio Sharpe Ratio Maximization (PSRM) --- p.105 / Chapter B --- Algorithm for Improved Portfolio Sharpe Ratio Maximization (ISRM) --- p.107 / Chapter C --- Proof of Regularization Term Y --- p.109 / Chapter D --- Algorithm for Modified Portfolio Sharpe Ratio Maximization (MP- SRM) --- p.111 / Chapter E --- Algorithm for MPSRM with Control of Expected Return --- p.113 / Chapter F --- Algorithm for MPSRM with Control of Expected Downside Risk --- p.115 / Chapter G --- Algorithm for SMPSRM with Control of Expected Return --- p.117 / Chapter H --- Algorithm for SMPSRM with Control of Expected Downside Risk --- p.119 / Chapter I --- Proof of Entropy-like Regularization Term --- p.121 / Chapter J --- Algorithm for SMPSRM-E with Control of Expected Return --- p.123 / Chapter K --- Algorithm for SMPSRM-E with Control of Expected Downside Riskl25 Bibliography --- p.127