Nikola Stakić | University Singidunum, Belgrade, Serbia (original) (raw)
Papers by Nikola Stakić
International review, 2023
Computational Economics, Jan 12, 2024
This study aims to explore the dynamic connections between Saudi crude oil prices and GCC (Gulf C... more This study aims to explore the dynamic connections between Saudi crude oil prices and GCC (Gulf Cooperation Council) equity markets during the COVID-19 outbreak. To represent the Saudi oil market, we utilize the Saudi Aramco share price, while the equity markets of GCC economies are approximated using the DFM General Equity, MSCI Qatar Equity, Kuwait Main Market 50, MSCI Oman Equity, and Bahrain All Share Equity indices, respectively. The data used in our analysis spans from December 31, 2019, to July 31, 2022. The empirical findings of our research indicate that there is no discernible relationship between Saudi crude oil and the Bahrain equity market, both in the short and long term. However, for the other markets examined, we observe a mix of linkages in both the short and long run. Furthermore, our study reveals that the Oman stock market exhibits the most significant influence on the observed dynamics, while the Bahrain equity market appears to be the most responsive to external shocks.
Economic Analysis
The aim of this study is to provide insight into the portfolios constructed out of sector mutual ... more The aim of this study is to provide insight into the portfolios constructed out of sector mutual funds, based on value and growth investment styles. Moreover, this study does not exclusively consider the returns, but it looks beyond them by incorporating the holdings data into portfolio performance attribution. We use two different sector mutual funds across the US sectors, over the observed decade. The findings show that smart money was not able to produce the value on the cumulative basis. We show that growth style was favourable over the observed decade. In addition, by implementing the growth style based on Shiller price-to-earnings in the portfolio construction and assigning sector weights the tested portfolio offset partially and fully the negative effect by managers’ stock selection. Overall, the holdings-based relative portfolios attribution in relation to appropriate benchmarks gave additional insight into dynamics of the alpha creation and the loss of alpha. Brinson-Fackle...
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies
Research Question: The paper investigates various ESG (Environmental, Social and Governance) rela... more Research Question: The paper investigates various ESG (Environmental, Social and Governance) related practices within the leading European banking groups (BGs) present in Serbian banking sector (SBS), including their financial performances. Motivation: The goal of the research was to explore approach habits to sustainable business between the leading European BGs present in the SBS. It should have in mind that SBS are in compliance with their headquarter/major shareholder. The rising global worry about ESG issues and its overall impact forces banking business model to use holistic approach, including the plug-in of sustainability and responsible behaviours. The paper draws on sustainable banking surveys of Aracil et al. (2021) and Stefanovic et al. (2021) in Business-Case domain, applying them on SBS with introduction of 3 comparable sustainable indicators (environmental loans, reduction of tCO2, community investments). It is the first study which takes in respect ESG elements of pr...
Bankarstvo, 2013
The paper analyzes the new forms of financial instruments in the contemporary financial markets, ... more The paper analyzes the new forms of financial instruments in the contemporary financial markets, generated in the process of securitization. The concept of securitization itself is explained, i.e. the creation of securities based on various forms of receivables which primarily evolved from mortgage transactions. In order to lower capital charges and reduce the creditor's credit exposure, receivables are converted into securities of various credit rating and maturity. The comparative analysis of the financial markets in Europe and the USA illustrates the main forms of receivables used as underlying assets in the creation of structured financial instruments. Among them, the most significant are receivables in respect of credit cards, car loans and student loans.
Journal of Policy Modeling, 2016
The paper analyzes the application of the hypothesis of the efficiency of financial markets on th... more The paper analyzes the application of the hypothesis of the efficiency of financial markets on the financial market in Serbia, i.e. the Belgrade Stock Exchange. The weak form presupposes an impossibility of anticipating a future share price on the basis of available historical pieces of information about the prices, indicating a “random walk” trend with shares. In order to carry out a research into the weak form of efficiency, the BELEX15 Index return daily value of the most liquid shares on the Belgrade Stock Exchange from the beginning of 2006 to the end of 2013 is taken. In order to prove the (un)predictability of the share-price trend, time series stationarity is established by means of the parametric and non-parametric econometric tests, such as the Dickey–Fuller test, the Phillips–Peron (PP) test and the Run Test.
Bankarstvo, 2013
The paper analyzes new mechanisms of carrying out a monetary policy, which the central banks have... more The paper analyzes new mechanisms of carrying out a monetary policy, which the central banks have been implementing in times of the global financial and economic crisis. The paper elaborates on quantitative easing and other similar mechanisms used by the most important central banks in the world. In addition, the paper explains the difference between the classic and unconventional measures at their disposal. By means of a comparative analysis, the paper reaches a conclusion that central banks have been implementing nonstandard measures in order to facilitate the expansionary monetary policy and stimulate the economic growth.
International review, 2022
The purpose of this study is to get an insight into the investment performance of the U.S. small-... more The purpose of this study is to get an insight into the investment performance of the U.S. small-size value mutual funds. The Fama-French five-factor model was used to perform the regression of the portfolio returns composed out of the mutual funds with the chosen investment theme, as well as the regression at the individual level for 64 analyzed mutual funds, against the model's factors. The study covers the period from January 2010 until November 2021, using monthly returns. Our findings suggest that the factors from the original three-factor models are in line with the expectations and there is no presence of the potential style drift. In addition, the operating profit factor shows the expected causality relation. However, the exposure relating to the investing factor is slightly negative and may be surprising to a certain extent, having in mind the stated value style. Investment performance attribution of the portfolio explained the portfolio returns in the relation to the factors and found out that there is a statistically significant underperformance. Positive contributors to the investment performance are, in the presented order of the importance, market premium, as well as portfolio tilt towards stocks of the companies with the strong operating profit, small-capitalization, and aggressive investing policy. Lastly, value-style tilt led to negative performance contribution because the style was out of favor.
The European Journal of Applied Economics, 2022
Proceedings of the 1st International Conference on Innovation in Information Technology and Business (ICIITB 2022), 2023
In the last decade, rising social media impact along with technological progress has given the po... more In the last decade, rising social media impact along with technological progress has given the potential for higher "democratization" of public voice. However, influential individuals, with hundreds of millions followers got the possibility to shape the public opinion and create herding behavior. Twitter activities, especially with financial markets-related content are gaining popularity as well. In that regard, the purpose of the paper is to analyze correlation between Elon Musk's Twitter activities and stock price performance of Tesla company, by using different models of sentiment analysis. Rapid Automatic Keyword Extraction tool was used in Phyton. Correlation analysis was done for the 3-year time period (Oct 2019-Oct 2022) in order to capture heightened volatility and various systematic risks, which had resulted in even more tweeting activities. Results showed that there is mid to high correlation between Elon Musk's tweets and share price of Tesla.
International Review
The purpose of this study is to get an insight into the investment performance of the U.S. small-... more The purpose of this study is to get an insight into the investment performance of the U.S. small-size value mutual funds. The Fama-French five-factor model was used to perform the regression of the portfolio returns composed out of the mutual funds with the chosen investment theme, as well as the regression at the individual level for 64 analyzed mutual funds, against the model's factors. The study covers the period from January 2010 until November 2021, using monthly returns. Our findings suggest that the factors from the original three-factor models are in line with the expectations and there is no presence of the potential style drift. In addition, the operating profit factor shows the expected causality relation. However, the exposure relating to the investing factor is slightly negative and may be surprising to a certain extent, having in mind the stated value style. Investment performance attribution of the portfolio explained the portfolio returns in the relation to the f...
Univerzitet Singidunum, 2021
Izdavač zadržava sva prava. Reprodukcija pojedinih delova ili celine ove publikacije nije dozvolj... more Izdavač zadržava sva prava. Reprodukcija pojedinih delova ili celine ove publikacije nije dozvoljena.
Institute of International Politics and Economics, 2016
KRETANJA NIVOA PROBLEMATIČNIH KREDITA U BANKARSKOM SEKTORU U SRBIJI Rezime U radu se analiziraju ... more KRETANJA NIVOA PROBLEMATIČNIH KREDITA U BANKARSKOM SEKTORU U SRBIJI Rezime U radu se analiziraju regulatorne i ekonomske varijable u bankarskom sektoru koje, u manjoj ili većoj meri, mogu da utiču na nivo problematičnih kredita u Srbiji. Iako bankarski sektor, za razliku od ostatka privrede ostvaruje pozitivne rezultate, istovremeno je prisutan i rastući trend problematičnih kredita koji preti da ugrozi celokupnu stabilnost finansijskog sistema. U tom smislu, u statističkoj i ekonometrijskoj analizi pošlo se od determinanti kao što su: kapitalna adekvatnost, iznos rezervisanja za potencijalne gubitke, profitabilnost, vlasnička struktura i koncentracija u bankarskom sektoru, kao i stopa rasta realnog bruto društvenog proizvoda. Koristeći definisane varijable, ispitana je stacionarnost posmatranih serija podataka pomoću proširenog Diki-Fulerovog (ADF) testa jediničnog korena, za period od poslednjeg kvartala 2008. godine do trećeg kvartala 2013. godine. Prema metodologiji Narodne banke Srbije, korišćeni su kvartalni podaci sa ukupno 20 opservacija. Osnovni izvor podataka predstavljaju različiti statistički izveštaji koje objavljuje Narodna banka Srbije.
Proceedings of the 8th International Scientific Conference - FINIZ 2021, 2021
The subject of the paper is to analyze the industry of exchange-traded funds (ETFs), along with t... more The subject of the paper is to analyze the industry of exchange-traded funds (ETFs), along with their basic characteristics. ETFs have been the most popular novelty in the financial industry in the previous three decades, demonstrating new investment vehicles; with variety of styles, sizes, risk spectrum and holdings' coverage. Analysis of the industry includes three most representative broad benchmarks and their associated tracking vehicles: SPY, VGK and IEMB; representing US, European and Asian markets, respectively. Analysis result implies superior risk-adjusted performance of Asian markets' ETF, given its emerging market status and more lucrative flexibility in flight of capital.
Proceedings of the 8th International Scientific Conference - FINIZ 2021, 2021
Internet banking gives banks colossal advantages as far as cost reserve funds, better client conn... more Internet banking gives banks colossal advantages as far as cost reserve funds, better client connections, and separate contributions from the opposition. This study expects to recognize the components that essentially influence the intention of bank clients to utilize Internet banking administrations in India. The examination proposed a complete model called Internet Banking Adoption in India, which was an implicit part based on the "Brought together Theory of Acceptance and Use of Technology" (UTAUT) and three extra factors that were recognized as setting delicate. A selfmade survey with 100 samples on the impact of behavioural intention to adopt Internet Banking was conducted using surveys available on the Internet. For further analysis, a statistical tool like Chi-Square, correlation and regression were performed on SPSS software. According to the TAM Model, perceived trust, perceived risk and perceived ease of use was taken into consideration to rate the behavioural intention for adopting Internet Banking in day-to-day life.
South Asia Research, 2020
This article examines the nexus between financial inclusion index and economic growth in all eigh... more This article examines the nexus between financial inclusion index and economic growth in all eight South Asian Association for Regional Cooperation (SAARC) countries, using annual data from 2004 to 2017. In order to determine the possible long-run relationship between these variables, the study adopted the Pedroni panel co-integration test and two types of co-integration regression methods, the Fully Modified Ordinary Least Square (FMOLS) and the Dynamic Ordinary Least Square (DOLS) methods. The Pedroni panel co-integration test confirms the existence of a long-run relationship between financial inclusion and economic growth in the SAARC countries. The coefficients of FMOLS and DOLS indicate that the index of financial inclusion and selected control variables together support economic growth. In addition, the Granger causality test confirmed bi-directional causality between FI and economic growth.
Journal of Policy Modeling, 2016
The paper analyzes the application of the hypothesis of the efficiency of financial markets on th... more The paper analyzes the application of the hypothesis of the efficiency of financial markets on the financial market in Serbia, i.e. the Belgrade Stock Exchange. The weak form presupposes an impossibility of anticipating a future share price on the basis of available historical pieces of information about the prices, indicating a “random walk” trend with shares. In order to carry out a research into the weak form of efficiency, the BELEX15 Index return daily value of the most liquid shares on the Belgrade Stock Exchange from the beginning of 2006 to the end of 2013 is taken. In order to prove the (un)predictability of the share-price trend, time series stationarity is established by means of the parametric and non-parametric econometric tests, such as the Dickey–Fuller test, the Phillips–Peron (PP) test and the Run Test.
International review, 2023
Computational Economics, Jan 12, 2024
This study aims to explore the dynamic connections between Saudi crude oil prices and GCC (Gulf C... more This study aims to explore the dynamic connections between Saudi crude oil prices and GCC (Gulf Cooperation Council) equity markets during the COVID-19 outbreak. To represent the Saudi oil market, we utilize the Saudi Aramco share price, while the equity markets of GCC economies are approximated using the DFM General Equity, MSCI Qatar Equity, Kuwait Main Market 50, MSCI Oman Equity, and Bahrain All Share Equity indices, respectively. The data used in our analysis spans from December 31, 2019, to July 31, 2022. The empirical findings of our research indicate that there is no discernible relationship between Saudi crude oil and the Bahrain equity market, both in the short and long term. However, for the other markets examined, we observe a mix of linkages in both the short and long run. Furthermore, our study reveals that the Oman stock market exhibits the most significant influence on the observed dynamics, while the Bahrain equity market appears to be the most responsive to external shocks.
Economic Analysis
The aim of this study is to provide insight into the portfolios constructed out of sector mutual ... more The aim of this study is to provide insight into the portfolios constructed out of sector mutual funds, based on value and growth investment styles. Moreover, this study does not exclusively consider the returns, but it looks beyond them by incorporating the holdings data into portfolio performance attribution. We use two different sector mutual funds across the US sectors, over the observed decade. The findings show that smart money was not able to produce the value on the cumulative basis. We show that growth style was favourable over the observed decade. In addition, by implementing the growth style based on Shiller price-to-earnings in the portfolio construction and assigning sector weights the tested portfolio offset partially and fully the negative effect by managers’ stock selection. Overall, the holdings-based relative portfolios attribution in relation to appropriate benchmarks gave additional insight into dynamics of the alpha creation and the loss of alpha. Brinson-Fackle...
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies
Research Question: The paper investigates various ESG (Environmental, Social and Governance) rela... more Research Question: The paper investigates various ESG (Environmental, Social and Governance) related practices within the leading European banking groups (BGs) present in Serbian banking sector (SBS), including their financial performances. Motivation: The goal of the research was to explore approach habits to sustainable business between the leading European BGs present in the SBS. It should have in mind that SBS are in compliance with their headquarter/major shareholder. The rising global worry about ESG issues and its overall impact forces banking business model to use holistic approach, including the plug-in of sustainability and responsible behaviours. The paper draws on sustainable banking surveys of Aracil et al. (2021) and Stefanovic et al. (2021) in Business-Case domain, applying them on SBS with introduction of 3 comparable sustainable indicators (environmental loans, reduction of tCO2, community investments). It is the first study which takes in respect ESG elements of pr...
Bankarstvo, 2013
The paper analyzes the new forms of financial instruments in the contemporary financial markets, ... more The paper analyzes the new forms of financial instruments in the contemporary financial markets, generated in the process of securitization. The concept of securitization itself is explained, i.e. the creation of securities based on various forms of receivables which primarily evolved from mortgage transactions. In order to lower capital charges and reduce the creditor's credit exposure, receivables are converted into securities of various credit rating and maturity. The comparative analysis of the financial markets in Europe and the USA illustrates the main forms of receivables used as underlying assets in the creation of structured financial instruments. Among them, the most significant are receivables in respect of credit cards, car loans and student loans.
Journal of Policy Modeling, 2016
The paper analyzes the application of the hypothesis of the efficiency of financial markets on th... more The paper analyzes the application of the hypothesis of the efficiency of financial markets on the financial market in Serbia, i.e. the Belgrade Stock Exchange. The weak form presupposes an impossibility of anticipating a future share price on the basis of available historical pieces of information about the prices, indicating a “random walk” trend with shares. In order to carry out a research into the weak form of efficiency, the BELEX15 Index return daily value of the most liquid shares on the Belgrade Stock Exchange from the beginning of 2006 to the end of 2013 is taken. In order to prove the (un)predictability of the share-price trend, time series stationarity is established by means of the parametric and non-parametric econometric tests, such as the Dickey–Fuller test, the Phillips–Peron (PP) test and the Run Test.
Bankarstvo, 2013
The paper analyzes new mechanisms of carrying out a monetary policy, which the central banks have... more The paper analyzes new mechanisms of carrying out a monetary policy, which the central banks have been implementing in times of the global financial and economic crisis. The paper elaborates on quantitative easing and other similar mechanisms used by the most important central banks in the world. In addition, the paper explains the difference between the classic and unconventional measures at their disposal. By means of a comparative analysis, the paper reaches a conclusion that central banks have been implementing nonstandard measures in order to facilitate the expansionary monetary policy and stimulate the economic growth.
International review, 2022
The purpose of this study is to get an insight into the investment performance of the U.S. small-... more The purpose of this study is to get an insight into the investment performance of the U.S. small-size value mutual funds. The Fama-French five-factor model was used to perform the regression of the portfolio returns composed out of the mutual funds with the chosen investment theme, as well as the regression at the individual level for 64 analyzed mutual funds, against the model's factors. The study covers the period from January 2010 until November 2021, using monthly returns. Our findings suggest that the factors from the original three-factor models are in line with the expectations and there is no presence of the potential style drift. In addition, the operating profit factor shows the expected causality relation. However, the exposure relating to the investing factor is slightly negative and may be surprising to a certain extent, having in mind the stated value style. Investment performance attribution of the portfolio explained the portfolio returns in the relation to the factors and found out that there is a statistically significant underperformance. Positive contributors to the investment performance are, in the presented order of the importance, market premium, as well as portfolio tilt towards stocks of the companies with the strong operating profit, small-capitalization, and aggressive investing policy. Lastly, value-style tilt led to negative performance contribution because the style was out of favor.
The European Journal of Applied Economics, 2022
Proceedings of the 1st International Conference on Innovation in Information Technology and Business (ICIITB 2022), 2023
In the last decade, rising social media impact along with technological progress has given the po... more In the last decade, rising social media impact along with technological progress has given the potential for higher "democratization" of public voice. However, influential individuals, with hundreds of millions followers got the possibility to shape the public opinion and create herding behavior. Twitter activities, especially with financial markets-related content are gaining popularity as well. In that regard, the purpose of the paper is to analyze correlation between Elon Musk's Twitter activities and stock price performance of Tesla company, by using different models of sentiment analysis. Rapid Automatic Keyword Extraction tool was used in Phyton. Correlation analysis was done for the 3-year time period (Oct 2019-Oct 2022) in order to capture heightened volatility and various systematic risks, which had resulted in even more tweeting activities. Results showed that there is mid to high correlation between Elon Musk's tweets and share price of Tesla.
International Review
The purpose of this study is to get an insight into the investment performance of the U.S. small-... more The purpose of this study is to get an insight into the investment performance of the U.S. small-size value mutual funds. The Fama-French five-factor model was used to perform the regression of the portfolio returns composed out of the mutual funds with the chosen investment theme, as well as the regression at the individual level for 64 analyzed mutual funds, against the model's factors. The study covers the period from January 2010 until November 2021, using monthly returns. Our findings suggest that the factors from the original three-factor models are in line with the expectations and there is no presence of the potential style drift. In addition, the operating profit factor shows the expected causality relation. However, the exposure relating to the investing factor is slightly negative and may be surprising to a certain extent, having in mind the stated value style. Investment performance attribution of the portfolio explained the portfolio returns in the relation to the f...
Univerzitet Singidunum, 2021
Izdavač zadržava sva prava. Reprodukcija pojedinih delova ili celine ove publikacije nije dozvolj... more Izdavač zadržava sva prava. Reprodukcija pojedinih delova ili celine ove publikacije nije dozvoljena.
Institute of International Politics and Economics, 2016
KRETANJA NIVOA PROBLEMATIČNIH KREDITA U BANKARSKOM SEKTORU U SRBIJI Rezime U radu se analiziraju ... more KRETANJA NIVOA PROBLEMATIČNIH KREDITA U BANKARSKOM SEKTORU U SRBIJI Rezime U radu se analiziraju regulatorne i ekonomske varijable u bankarskom sektoru koje, u manjoj ili većoj meri, mogu da utiču na nivo problematičnih kredita u Srbiji. Iako bankarski sektor, za razliku od ostatka privrede ostvaruje pozitivne rezultate, istovremeno je prisutan i rastući trend problematičnih kredita koji preti da ugrozi celokupnu stabilnost finansijskog sistema. U tom smislu, u statističkoj i ekonometrijskoj analizi pošlo se od determinanti kao što su: kapitalna adekvatnost, iznos rezervisanja za potencijalne gubitke, profitabilnost, vlasnička struktura i koncentracija u bankarskom sektoru, kao i stopa rasta realnog bruto društvenog proizvoda. Koristeći definisane varijable, ispitana je stacionarnost posmatranih serija podataka pomoću proširenog Diki-Fulerovog (ADF) testa jediničnog korena, za period od poslednjeg kvartala 2008. godine do trećeg kvartala 2013. godine. Prema metodologiji Narodne banke Srbije, korišćeni su kvartalni podaci sa ukupno 20 opservacija. Osnovni izvor podataka predstavljaju različiti statistički izveštaji koje objavljuje Narodna banka Srbije.
Proceedings of the 8th International Scientific Conference - FINIZ 2021, 2021
The subject of the paper is to analyze the industry of exchange-traded funds (ETFs), along with t... more The subject of the paper is to analyze the industry of exchange-traded funds (ETFs), along with their basic characteristics. ETFs have been the most popular novelty in the financial industry in the previous three decades, demonstrating new investment vehicles; with variety of styles, sizes, risk spectrum and holdings' coverage. Analysis of the industry includes three most representative broad benchmarks and their associated tracking vehicles: SPY, VGK and IEMB; representing US, European and Asian markets, respectively. Analysis result implies superior risk-adjusted performance of Asian markets' ETF, given its emerging market status and more lucrative flexibility in flight of capital.
Proceedings of the 8th International Scientific Conference - FINIZ 2021, 2021
Internet banking gives banks colossal advantages as far as cost reserve funds, better client conn... more Internet banking gives banks colossal advantages as far as cost reserve funds, better client connections, and separate contributions from the opposition. This study expects to recognize the components that essentially influence the intention of bank clients to utilize Internet banking administrations in India. The examination proposed a complete model called Internet Banking Adoption in India, which was an implicit part based on the "Brought together Theory of Acceptance and Use of Technology" (UTAUT) and three extra factors that were recognized as setting delicate. A selfmade survey with 100 samples on the impact of behavioural intention to adopt Internet Banking was conducted using surveys available on the Internet. For further analysis, a statistical tool like Chi-Square, correlation and regression were performed on SPSS software. According to the TAM Model, perceived trust, perceived risk and perceived ease of use was taken into consideration to rate the behavioural intention for adopting Internet Banking in day-to-day life.
South Asia Research, 2020
This article examines the nexus between financial inclusion index and economic growth in all eigh... more This article examines the nexus between financial inclusion index and economic growth in all eight South Asian Association for Regional Cooperation (SAARC) countries, using annual data from 2004 to 2017. In order to determine the possible long-run relationship between these variables, the study adopted the Pedroni panel co-integration test and two types of co-integration regression methods, the Fully Modified Ordinary Least Square (FMOLS) and the Dynamic Ordinary Least Square (DOLS) methods. The Pedroni panel co-integration test confirms the existence of a long-run relationship between financial inclusion and economic growth in the SAARC countries. The coefficients of FMOLS and DOLS indicate that the index of financial inclusion and selected control variables together support economic growth. In addition, the Granger causality test confirmed bi-directional causality between FI and economic growth.
Journal of Policy Modeling, 2016
The paper analyzes the application of the hypothesis of the efficiency of financial markets on th... more The paper analyzes the application of the hypothesis of the efficiency of financial markets on the financial market in Serbia, i.e. the Belgrade Stock Exchange. The weak form presupposes an impossibility of anticipating a future share price on the basis of available historical pieces of information about the prices, indicating a “random walk” trend with shares. In order to carry out a research into the weak form of efficiency, the BELEX15 Index return daily value of the most liquid shares on the Belgrade Stock Exchange from the beginning of 2006 to the end of 2013 is taken. In order to prove the (un)predictability of the share-price trend, time series stationarity is established by means of the parametric and non-parametric econometric tests, such as the Dickey–Fuller test, the Phillips–Peron (PP) test and the Run Test.
Finansijski inženjering je primena matematičkih metoda u rešavanju problema u finansijama. Takođe... more Finansijski inženjering je primena matematičkih metoda u rešavanju problema u finansijama. Takođe je poznat kao finansijska matematika, matematičke finansije
i računarske finansije.
Finansijski inženjering koristi alate iz primenjene matematike, računarstva, statistike i ekonomske teorije. Investicione banke, poslovne banke, hedž fondovi, fintech kompanije, osiguravajuća društva, korporativni treasury i regulatorne agencije zapošljavaju finansijske inženjere.
Ova preduzeća primenjuju metode finansijskog inženjeringa na probleme poput razvoja novih proizvoda, vrednovanja izvedenih hartija od vrednosti (HOV), strukturiranja portfolia, upravljanja rizicima i simulacije scenarija. Finansijski inženjeri, izgrađujući veoma jake osnove veština, takođe mogu uspeti u ulozi analitičara baza podataka, stručnjaka za otkrivanje transakcija pranja novca i primenu veštačke inteligencije u razvoju novih programa. Kvantitativna analiza je donela inovacije, efikasnost i rigoroznost na finansijskim tržištima i u proces ulaganja.
Kako se tempo finansijskih inovacija ubrzava, potreba za visoko kvalifikovanim ljudskim resursima sa specifičnom obukom iz finansijskog inženjeringa nastavlja da raste
u svim tržišnim okruženjima.
Investicije predstavljaju jedan od ključnih elemenata savremenih finansija, oblikujući ne samo li... more Investicije predstavljaju jedan od ključnih elemenata savremenih finansija, oblikujući ne samo lične portfolije, već i globalne ekonomske tokove. U svetu gde se finansijska tržišta brzo razvijaju, a ekonomske prilike neprestano menjaju, poznavanje različitih oblika investicione aktive postaje nužno.
Ovaj udžbenik pruža sveobuhvatan uvid u svet investicija – od tradicionalnih instrumenata poput akcija i obveznica, pa sve do alternativnih ulaganja u nekretnine, berzansku robu, i privatni kapital. Bilo da ste student ekonomije, menadžmenta ili
finansija, ili profesionalac koji želi da produbi svoje razumevanje investicionih procesa,
udžbenik nudi jasno strukturiran i detaljan pregled svih ključnih aspekata.
Na razumljiv način objašnjeni su osnovni principi, rizici i koristi koji prate svaku investicionu odluku. Poseban akcenat stavljen je na praktične aspekte, uključujući načine na koje se vrednuju investicije, upravlja rizikom i kreiraju uspešni investicioni portfoliji.
U savremenom finansijskom svetu, investitori dolaze iz različitih sfera – od individualnih
ulagača do institucionalnih fondova i država. Svaki od ovih investitora ima svoje specifične ciljeve, ali jedno im je zajedničko: potreba za razumevanjem tržišnih prilika i izazova. Ovaj udžbenik pruža alate i znanje koje su potrebni za donošenje investicionih odluka. Na kraju, investiranje nije samo finansijska disciplina – to je proces koji utiče na razvojnu budućnost kako pojedinaca, tako i kompanija, ali i šireg društva. Razumevanje investicija danas je ključ za finansijsku stabilnost i dugoročan uspeh u svetu koji se neprekidno menja.