03789ntm a22005417i 4500 000717875 CZ-PrVSE 20250629141137.0 m d cr n|||||||||| 250629s2025 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Gallová, Nikola ISIS:151363 dis Investování s dopadem : Optimalizace portfolia v oblasti konzervačních financí eng Impact Investing : Portfolio Optimization in Conservation Finance Nikola Gallová 2025 ?? stran : digital, PDF soubor Vedoucí práce: Adam Borovička Bakalářská práce (Bc.)—Vysoká škola ekonomická v Praze. Fakulta informatiky a statistiky, Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby This bachelor‘s thesis focuses on conservation finance from the perspective of private investors. While conservation efforts have traditionally relied on public funding and philanthropy, these sources are increasingly insufficient. The thesis evaluates accessible financial instruments – specifically green energy stocks, carbon credit ETFs, and green bond ETFs – to assess their potential for aligning environmental impact with investor returns. These instruments provide a sustainable alternative to conventional instruments. Portfolios are constructed using the Markowitz mean-variance model and the mean-semivariance model. Mean-variance model is a standard approach; however, it comes with limitations, especially for skewed or asymmetrical returns. Mean-semivariance model accounts only for downside risk and is therefore better suited for real-world scenarios. To demonstrate the different results, both models were applied to the dataset. Efficient frontiers are generated for daily, monthly, and quarterly return frequencies. The frequency of returns influences asset allocation within a portfolio. Both short-term and long-term return frequencies offer advantages, which may be more or less suitable depending on the investor's individual preferences and investment horizon. For each frequency, portfolios with minimum risk and maximum Sharpe ratio in the case of the mean-variance model and minimum risk and maximum Sortino ratio in the case of the mean-semivariance model are identified and compared in terms of return and volatility. The results demonstrate that conservation finance offers viable options for retail investors, depending on their risk tolerance and investment horizon. Způsob přístupu: Internet ekonometrie a operační výzkum [obor bakal. práce] bakalářské práce fd132403 czenas bachelor's theses eczenas Sharpe ratio mean-variance mean-semivariance Markowitz Sortino ratio conservation finance efficient frontier Borovička, Adam ISIS:42042 ths Neugebauer, Jakub ISIS:135709 opn Vysoká škola ekonomická v Praze. Fakulta informatiky a statistiky kn20010709399 dgg https://insis.vse.cz/zp/76882/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/76882 Hlavní práce https://insis.vse.cz/zp/76882/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/76882/posudek/oponent/84423 Oponentura https://insis.vse.cz/zp/76882/podrobnosti dc:identifier NEPOSILAT VSKP vse76882 250627 76882