Zbornik Radova Ekonomskog Fakulteta u Istočnom Sarajevu (Jan 2011)
CREATING OPTIMAL PORTFOLIO SECURITIES ON MODERN FINANCIAL MARKETS
Abstract
Creating the optimal portfolio ofsecurities on modern financial markets is leading inthe modern theory and practice of investment insecurities. The paper analyzes the extent and valueof trading securities on the Belgrade StockExchange during the period from 31 October 2005to 31 October 2010, as well as movement of thecorresponding stock index during that period.Furthermore, the paper elaborates theoretical andempirical analysis of quantitative choice of theinvestor’s optimal portfolio of securities withsecurity preference in case of the Republika Srpskacapital markets. Based on the analysis of selectionof the investor’s optimal portfolio of securities withsecurity preference are Roy’s model, Kataoka’s andTelser's model.The bases for the analysis ofselection of the investor’s optimal portfolio ofsecurities with security preference are elaboratedby means of the mathematical analysis of the Roy’smodel, Kataoka’s model and Telser's model ofcapital market of the Republika Srpska.Interpretation of the results can serve as a basis forprofessional and scientific discussion on theinvestor’s optimal portfolio of securities withsecurity preference.
