论文部分内容阅读
艺术品投资已发展成为中国投资领域的第三极,并逐步成为家庭资产配置的有效手段。本文在现有的研究基础上,以资产组合理论为基础,探究传统资产组合(无风险资产、股票、债券、基金)和加入艺术品之后的新型资产组合的有效前沿,并建立加入无风险资产之后两种资产组合方式的最优组合点,结果表明在风险相同的前提下加入艺术品投资能增加收益,以及相对于传统资产组合的最优组合点,加入艺术品之后的最优资产组合点的风险收益率下降。
The art investment has developed into the third pole in China’s investment field and has gradually become an effective means of household asset allocation. Based on the existing research and based on portfolio theory, this paper explores the effective frontier of the new portfolio after the traditional portfolio (risk-free assets, stocks, bonds, funds) and after joining art, After the two combinations of the optimal portfolio of the point, the results show that under the same risk with the addition of art investment can increase returns, as well as the relative optimal combination of traditional portfolio point, after joining the art portfolio, the optimal portfolio point The risk of falling yields.