Art as an investment: a portfolio allocation analysis

Article Abstract:

Art can be a viable investment instrument. An optimal mean-variance efficient portfolio was constructed, using historical data for portfolios of artwork and other financial securities from 1981 to 1990. The model indicates that art forms a large part of the investment mix. Such considerable percentage may be attributed to the low correlation of art returns to the returns of their financial securities. These findings suggest that assets such as art can be significant tools in portfolio diversification.

Research, Evaluation, Portfolio management, Securities, Art as an investment

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An investigation of independent audit opinions and subsequent independent auditor litigation of publicly-traded failed savings and loans

Article Abstract:

The failure of financial institutions is still likely to generate audit litigation as rendering review reports on savings and loans (S&L) that may fail ex ante still put independent auditors under litigation in 1980. The investigation on 24 S&Ls found that a qualified opinion on the last audited financial statement prior to the failure of 19 out of 24 S&Ls were sound. However, five lawsuits were still filed against independent auditors who submitted a review report.

Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Cases, Accounting and auditing, Auditing, Practice, Savings and loan associations, Auditors

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