| 研究生: |
馬克洋 Kryszak, Marek |
|---|---|
| 論文名稱: |
Wine Banking as a Securitization of Capital during Crisis Wine Banking as a Securitization of Capital during Crisis |
| 指導教授: |
偉耶倫
Webb, Alan |
| 學位類別: |
碩士 Master |
| 系所名稱: |
管理學院 - 國際經營管理研究所碩士班 Institute of International Management (IIMBA--Master) |
| 論文出版年: | 2013 |
| 畢業學年度: | 101 |
| 語文別: | 英文 |
| 論文頁數: | 103 |
| 外文關鍵詞: | Alternative investments, Fine wine, Wine banking, Crisis, Granger Causality, Rate of return |
| 相關次數: | 點閱:185 下載:2 |
| 分享至: |
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The commodity investments have historically been the minor part of investors’ interests. Thanks to the development of organized markets ruled similarly to the traditional stocks markets, in recent years, their importance noticeably grew. In our paper we use the example of Liv-ex platform based in London to compare their performance to major financial indices as well as the gold price. According to our analysis, fine wine investments were characterized by the very high rates of return and the low level of the risk involved. Moreover, Granger Causality testes revealed only limited dependences between the fine wine indices and financial ones. Overall results, proved, that even in the period of economic distress, alternative investment tools, here represented by fine wine, can constitute an attractive proposition for investors willing to diversify their assets in portfolio.
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