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Can investors gain from investing in certain sectors?

Narayan, Paresh, Ali Ahmed, Huson and Narayan, Seema 2017, Can investors gain from investing in certain sectors?, Journal of international financial markets, institutions and money, vol. 48, pp. 160-177, doi: 10.1016/j.intfin.2017.01.003.

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Title Can investors gain from investing in certain sectors?
Author(s) Narayan, Paresh
Ali Ahmed, Huson
Narayan, Seema
Journal name Journal of international financial markets, institutions and money
Volume number 48
Start page 160
End page 177
Total pages 18
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2017-05
ISSN 1042-4431
Keyword(s) Mean-variance
Profitability
Dynamic trading strategies
Portfolio
Sectors
Summary In this paper, we analyse investor behaviour on the NYSE. We show that average returns from dynamic trading strategies, regardless of the different portfolio constraints, out-perform passive trading strategies in all sectors. In addition, the performance of dynamic strategies is much more impressive in some sectors than in others. We also undertake a profitability and safety analysis based on a portfolio of high-performing sectors and show that at higher levels of expected returns, a rise in profitability comes at the expense of less safety. Our results, on the whole, reveal that investors' can gain substantially by investing in certain sectors.
Language eng
DOI 10.1016/j.intfin.2017.01.003
Field of Research 1502 Banking, Finance And Investment
Socio Economic Objective 0 Not Applicable
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2017, Elsevier B.V.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30091652

Document type: Journal Article
Collection: Department of Finance
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