Otimização de portfólios de comercialização de energia no Brasil
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/18536 |
Resumo: | The portfolio optimization analysis for quite some time was built around the variance measure. This approach is adequate when the assets returns are normaly distributed. However, in asymmetric or heavy-tailed distributions, the same weight cannot be given to the two tails of the distribution, what requires the use of other risk measures. One of the most known and widespread is VaR, but it cannot capture extreme events, is not a coherent measure and has optimization problems. For these reasons, the dissertation addresses the CVaR on the portfolio optimization for the Brazilian electric power sector. |
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Ribeiro, Mário GuerreiroEscolas::EPGEFGVAyala, Gustavo Alberto AmaralMello, João Carlos de OliveiraGonçalves, Edson Daniel Lopes2017-07-27T13:48:38Z2017-07-27T13:48:38Z2017-05-22RIBEIRO, Mário Guerreiro. Otimização de portfólios de comercialização de energia no Brasil. Dissertação (Mestrado em Finanças e Economia Empresarial) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2017.https://hdl.handle.net/10438/18536The portfolio optimization analysis for quite some time was built around the variance measure. This approach is adequate when the assets returns are normaly distributed. However, in asymmetric or heavy-tailed distributions, the same weight cannot be given to the two tails of the distribution, what requires the use of other risk measures. One of the most known and widespread is VaR, but it cannot capture extreme events, is not a coherent measure and has optimization problems. For these reasons, the dissertation addresses the CVaR on the portfolio optimization for the Brazilian electric power sector.A análise da otimização de carteiras por muito tempo foi pautada na medida da variância. Essa abordagem é propícia quando os retornos dos ativos são normais. Porém, em distribuições assimétricas ou com caudas pesadas não se pode dar o mesmo peso para as duas extremidades da distribuição, levando a necessidade da utilização de outras medidas de risco. Uma das mais conhecidas e difundidas é o VaR, porém o mesmo não consegue capturar eventos extremos, além de não ser uma medida coerente e possuir problemas de otimização. Por esses motivos, o CVaR é abordado para o caso da otimização de portfólios do setor de energia elétrica brasileiro.porOtimização de portfóliosCVARVAREconomiaInvestimentosRisco (Economia)Energia - BrasilOtimização de portfólios de comercialização de energia no Brasilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVTEXTTese_MGuerreiro_Versao final.pdf.txtTese_MGuerreiro_Versao final.pdf.txtExtracted texttext/plain101699https://repositorio.fgv.br/bitstreams/33122f1e-7ea0-4e42-b4ad-841f11b1cc4f/downloadeffe88de33c0bde8b6813bc13dc5cefcMD54ORIGINALTese_MGuerreiro_Versao final.pdfTese_MGuerreiro_Versao final.pdfPDFapplication/pdf1679486https://repositorio.fgv.br/bitstreams/9d848988-820a-4efd-8e32-d9129bf1c1e2/download41cba20a3ce6b5eaeeb08b44f89fd439MD51LICENSElicense.txtlicense.txttext/plain; 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|
dc.title.por.fl_str_mv |
Otimização de portfólios de comercialização de energia no Brasil |
title |
Otimização de portfólios de comercialização de energia no Brasil |
spellingShingle |
Otimização de portfólios de comercialização de energia no Brasil Ribeiro, Mário Guerreiro Otimização de portfólios CVAR VAR Economia Investimentos Risco (Economia) Energia - Brasil |
title_short |
Otimização de portfólios de comercialização de energia no Brasil |
title_full |
Otimização de portfólios de comercialização de energia no Brasil |
title_fullStr |
Otimização de portfólios de comercialização de energia no Brasil |
title_full_unstemmed |
Otimização de portfólios de comercialização de energia no Brasil |
title_sort |
Otimização de portfólios de comercialização de energia no Brasil |
author |
Ribeiro, Mário Guerreiro |
author_facet |
Ribeiro, Mário Guerreiro |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.member.none.fl_str_mv |
Ayala, Gustavo Alberto Amaral Mello, João Carlos de Oliveira |
dc.contributor.author.fl_str_mv |
Ribeiro, Mário Guerreiro |
dc.contributor.advisor1.fl_str_mv |
Gonçalves, Edson Daniel Lopes |
contributor_str_mv |
Gonçalves, Edson Daniel Lopes |
dc.subject.por.fl_str_mv |
Otimização de portfólios CVAR |
topic |
Otimização de portfólios CVAR VAR Economia Investimentos Risco (Economia) Energia - Brasil |
dc.subject.eng.fl_str_mv |
VAR |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Investimentos Risco (Economia) Energia - Brasil |
description |
The portfolio optimization analysis for quite some time was built around the variance measure. This approach is adequate when the assets returns are normaly distributed. However, in asymmetric or heavy-tailed distributions, the same weight cannot be given to the two tails of the distribution, what requires the use of other risk measures. One of the most known and widespread is VaR, but it cannot capture extreme events, is not a coherent measure and has optimization problems. For these reasons, the dissertation addresses the CVaR on the portfolio optimization for the Brazilian electric power sector. |
publishDate |
2017 |
dc.date.accessioned.fl_str_mv |
2017-07-27T13:48:38Z |
dc.date.available.fl_str_mv |
2017-07-27T13:48:38Z |
dc.date.issued.fl_str_mv |
2017-05-22 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
RIBEIRO, Mário Guerreiro. Otimização de portfólios de comercialização de energia no Brasil. Dissertação (Mestrado em Finanças e Economia Empresarial) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2017. |
dc.identifier.uri.fl_str_mv |
https://hdl.handle.net/10438/18536 |
identifier_str_mv |
RIBEIRO, Mário Guerreiro. Otimização de portfólios de comercialização de energia no Brasil. Dissertação (Mestrado em Finanças e Economia Empresarial) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2017. |
url |
https://hdl.handle.net/10438/18536 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
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