Publicação
The Portuguese contemporary art as an investment
| dc.contributor.advisor | Freitas, Miguel Lebre de | |
| dc.contributor.advisor | Nunes, Luís Catela | |
| dc.contributor.author | Antunes, Nuno Filipe Borrego | |
| dc.date.accessioned | 2015-06-04T10:20:59Z | |
| dc.date.available | 2015-06-04T10:20:59Z | |
| dc.date.issued | 2015-01 | |
| dc.description.abstract | In this paper we investigate what drives the prices of Portuguese contemporary art at auction and explore the potential of art as an asset. Based on a hedonic prices model we construct an Art Price Index as a proxy for the Portuguese contemporary art market over the period of 1994 to 2014. A performance analysis suggests that art underperforms the S&P500 but overperforms the Portuguese stock market and American Government bonds. However, It does it at the cost of higher risk. Results also show that art as low correlation with financial markets, evidencing some potential in risk mitigation when added to traditional equity portfolios. | por |
| dc.description.sponsorship | NSBE - UNL | por |
| dc.identifier.tid | 201476240 | |
| dc.identifier.uri | http://hdl.handle.net/10362/15072 | |
| dc.language.iso | eng | por |
| dc.subject | Art | por |
| dc.subject | Finance | por |
| dc.subject | Investment | por |
| dc.subject | Returns | por |
| dc.title | The Portuguese contemporary art as an investment | por |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | por |
| rcaap.type | masterThesis | por |
| thesis.degree.discipline | Economics | por |
| thesis.degree.level | Masters | por |
| thesis.degree.name | A Work Project presented as part of the requirements for the Award of a Master Degree in Economics from the NOVA – School of Business and Economics | por |