Utilize este identificador para referenciar este registo: http://hdl.handle.net/10362/15072
Título: The Portuguese contemporary art as an investment
Autor: Antunes, Nuno Filipe Borrego
Orientador: Freitas, Miguel Lebre de
Nunes, Luís Catela
Palavras-chave: Art
Finance
Investment
Returns
Data de Defesa: Jan-2015
Resumo: 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.
URI: http://hdl.handle.net/10362/15072
Designação: 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
Aparece nas colecções:NSBE: Nova SBE - MA Dissertations

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