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master's thesis
Aktivni menadžment portfelja obveznica
Diplomski rad
2024. urn:nbn:hr:145:898178
Zeko, Dino
Josip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek

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Zeko, D. (2024). Aktivni menadžment portfelja obveznica : Diplomski rad (Master's thesis). Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek. Retrieved from https://urn.nsk.hr/urn:nbn:hr:145:898178

Zeko, Dino. "Aktivni menadžment portfelja obveznica : Diplomski rad." Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2024. https://urn.nsk.hr/urn:nbn:hr:145:898178

Zeko, Dino. "Aktivni menadžment portfelja obveznica : Diplomski rad." Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2024. https://urn.nsk.hr/urn:nbn:hr:145:898178

Zeko, D. (2024). 'Aktivni menadžment portfelja obveznica : Diplomski rad', Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, accessed 01 April 2025, https://urn.nsk.hr/urn:nbn:hr:145:898178

Zeko D. Aktivni menadžment portfelja obveznica : Diplomski rad [Master's thesis]. Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek; 2024 [cited 2025 April 01] Available at: https://urn.nsk.hr/urn:nbn:hr:145:898178

D. Zeko, "Aktivni menadžment portfelja obveznica : Diplomski rad", Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, Osijek, 2024. Available at: https://urn.nsk.hr/urn:nbn:hr:145:898178

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Metadata
TitleAktivni menadžment portfelja obveznica : Diplomski rad
Title (english)Active bond portfolio management : Graduate paper
AuthorDino Zeko
MentorIvana Bestvina Bukvić (mentor)
MentorDražen Novaković (komentor)
Committee memberDubravka Pekanov (predsjednik povjerenstva)
Committee memberIvana Bestvina Bukvić (član povjerenstva)
Committee memberDomagoj Karačić (član povjerenstva)
GranterJosip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
Osijek
Defense date and country2024-09-16, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Obveznica predstavlja financijski instrument s fiksnim prihodom, a izdavatelji su uglavnom države ili korporacije. Prilikom ulaganja u obveznice investitore će zanimati nominalna vrijednost obveznice, njen rok dospijeća i kuponska stopa. Upravljanje portfeljima obveznica podrazumijeva dva glavna načina upravljanja, a to su aktivna strategija i pasivna strategija. Pasivnim strategijama cilj je replicirati učinak odabranog indeksa dok je u aktivnoj strategiji cilj ostvariti bolji učinak od... More odabrane referentne vrijednosti. Slijedom navedenog, postavljeno je istraživačko pitanje „Na koji način različite strategije aktivnog menadžmenta portfelja obveznica, poput bullet, barbell i ladder strategija, utječu na ukupni povrat u usporedbi s pasivnim strategijama upravljanja portfeljem?“. Cilj rada bio je teoretski i praktično istražiti aktivni menadžment portfelja obveznica te utvrditi jesu li odabrane aktivne strategije profitabilnije u odnosu na pasivnu strategiju „kupi i drži“ te, ako jesu, u kojim tržišnim uvjetima su profitabilnije. U okviru diplomskog rada teorijski i praktično istražene su i analizirane aktivne strategije krivulje prinosa te su potom uspoređene s jednostavnom pasivnom strategijom „kupi i drži“. U radu su, osim statističke i matematičke metode, korištene metode deskripcije, indukcije i dedukcije te metoda komparacije. Aktivne strategije korištene prilikom analize nisu imale bolji učinak od pasivne strategije. Navedeno se većinom podudara s dostupnim istraživanjima koja navode da jako mali broj menadžera koji koriste aktivnu strategiju tj. aktivno upravljanje portfeljom uspijeva ostvariti bolje rezultate od referentnih vrijednosti. Less
Abstract (english)
Bonds are financial instruments with fixed income, typically issued by governments or corporations. When investing in bonds investors are interested in the bond's face value, its maturity and the coupon rate. Bond portfolio management involves two main management strategies: active strategy and passive strategy. Passive strategies' goal is to replicate an index and its performance. Active strategies aim to the performance of a chosen index, while the goal of an active strategy is to... More outperform the selected benchmark. Following this, the research question posed was, "How do different active bond portfolio management strategies, such as bullet, barbell, and ladder strategies, impact overall returns compared to passive portfolio management strategies?" The objective of this paper was to theoretically and practically explore active bond portfolio management and determine whether the selected active strategies are more profitable compared to the passive "buy and hold" strategy, and if so, under what market conditions they are more profitable. In this graduate paper yield curve of active strategies were theoretically and practically researched and analyzed, and then compared to the simple passive "buy and hold" strategy. In the research, statistical and mathematical methods were used for the research in combination with descriptive method, induction, deduction and comparative method. The active strategies used have failed to produce better results than a „buy and hold“ passive strategy. This finding is largely consistent with available research, which indicates that very few managers using active strategies, i.e., active portfolio management, manage to achieve better results than the benchmarks. Less
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:145:898178
Study programmeTitle: Financial Management
Study programme type: university
Study level: graduate
Academic / professional title: sveučilišni magistar/magistra ekonomije (sveučilišni magistar/magistra ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2025-02-04 12:31:31
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