{"?xml":{"@version":"1.0"},"edm:RDF":{"@xmlns:dc":"http://purl.org/dc/elements/1.1/","@xmlns:edm":"http://www.europeana.eu/schemas/edm/","@xmlns:wgs84_pos":"http://www.w3.org/2003/01/geo/wgs84_pos","@xmlns:foaf":"http://xmlns.com/foaf/0.1/","@xmlns:rdaGr2":"http://rdvocab.info/ElementsGr2","@xmlns:oai":"http://www.openarchives.org/OAI/2.0/","@xmlns:owl":"http://www.w3.org/2002/07/owl#","@xmlns:rdf":"http://www.w3.org/1999/02/22-rdf-syntax-ns#","@xmlns:ore":"http://www.openarchives.org/ore/terms/","@xmlns:skos":"http://www.w3.org/2004/02/skos/core#","@xmlns:dcterms":"http://purl.org/dc/terms/","edm:WebResource":[{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-ZBTODT9E/9291467a-74a8-47e6-a473-b907f098e632/HTML","dcterms:extent":"27 KB"},{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-ZBTODT9E/3573bd0c-ff93-4c8c-9c29-e3c6fb9186ed/PDF","dcterms:extent":"498 KB"},{"@rdf:about":"http://www.dlib.si/stream/URN:NBN:SI:doc-ZBTODT9E/0c4d08df-f1e4-47d2-a1b9-3d9a9d43309c/TEXT","dcterms:extent":"21 KB"}],"edm:TimeSpan":{"@rdf:about":"2006-2025","edm:begin":{"@xml:lang":"en","#text":"2006"},"edm:end":{"@xml:lang":"en","#text":"2025"}},"edm:ProvidedCHO":{"@rdf:about":"URN:NBN:SI:doc-ZBTODT9E","dcterms:isPartOf":[{"@rdf:resource":"https://www.dlib.si/details/urn:nbn:si:spr-hthivfa7"},{"@xml:lang":"sl","#text":"Naše gospodarstvo"}],"dcterms:issued":"2011","dc:creator":["Munda, Gal","Strašek, Sebastjan"],"dc:format":[{"@xml:lang":"sl","#text":"številka:1/2"},{"@xml:lang":"sl","#text":"letnik:57"},{"@xml:lang":"sl","#text":"str. 55-60"}],"dc:identifier":["ISSN:0547-3101","COBISSID:10578716","URN:URN:NBN:SI:doc-ZBTODT9E"],"dc:language":"en","dc:publisher":[{"@xml:lang":"sl","#text":"Društvo ekonomistov Maribor"},{"@xml:lang":"sl","#text":"Ekonomski center Maribor"},{"@xml:lang":"sl","#text":"Ekonomsko-poslovna fakulteta"}],"dc:subject":[{"@xml:lang":"sl","#text":"borze"},{"@xml:lang":"sl","#text":"borzništvo"},{"@xml:lang":"sl","#text":"delnice"},{"@xml:lang":"sl","#text":"modeli"},{"@xml:lang":"sl","#text":"trg kapitala"},{"@xml:lang":"sl","#text":"vrednost"},{"@xml:lang":"sl","#text":"vrednostni prapirji"},{"@rdf:resource":"http://www.wikidata.org/entity/Q1199505"}],"dcterms:temporal":{"@rdf:resource":"2006-2025"},"dc:title":{"@xml:lang":"sl","#text":"Use of the TRP ratio in selected countries| Uporaba TRP indikatorjev v izbranih državah|"},"dc:description":[{"@xml:lang":"sl","#text":"This article proposes a new way of using publically available information in order to outperform the market. We suggest that, under the assumption that the\"target-to-real ratio\" is stationary, it could be implemented in several trading and/or portfolio optimization techniques. We use the target price-the price analysts \"predict\" when issuing recommendations, which always includes a time frame-to develop the TRP ratio. In practice, almost all target prices are estimated prices for the subsequent 6 to 12 months. It should be emphasized that such research has only recently become feasible as the historic data became pub lically available at the end of 2008. We then test the stationarity of the TRP ratio using the Dickey-Fuller Unit Root test. Upon confirming stationarity, we develop an autoregressive (AR1) model to estimate the mean reverted target price. The final part of this research implements this information into the trading model. It uses deviation from the mean-reverted TRP ratio to indicate stock's future potential. Results of the research are astonishing, as our model outperforms the benchmark (a passive, equally weighted strategy) by 55%"},{"@xml:lang":"sl","#text":"V raziskavi smo predstavili novo metodo za dosego nadpovprečnih rezultatov na borznih trgih. Predlagamo, da borzni posredniki in upravljavci premoženja razmislijo o uporabi kazalnika TRP kot enega izmed odločilnih faktorjev pri ocenjevanju cenovnega potenciala delnice na srednji rok. V prvem delu članka testiramo stacionarnost količnika TRP, ki je prvi pogoj za uporabo kazalnika v praksi. Nato razvijemo ekonometrični model (model AR1), ki nam omogoča \"predvideti\" gibanje kazalnika TRP v prihodnosti. Končni rezultat modela je povprečna vrednost, razvita na podlagi zgoraj omenjenega modela, h kateri se količnik TRP nagiba na dolgi rok. Povprečno vrednost TRP posamezne delnice uporabimo pri t. i. metodi testiranja na preteklih podatkih (backtesting), ko simuliramo portfelj desetih delnic na podlagi informacije o podcenjenosti oz. precenjenosti delnice. Rezultat raziskave je presegel pričakovanja, saj je portfelj, ki uporablja količnik TRP, presegel referenčni (benchmark) portfelj za kar 55 %. Pri tem je bil uporabljen referenčni pasivni portfelj, sestavljen iz enakih desetih delnic, kjer vsaka delnica na začetku predstavlja 10 % portfelja"}],"edm:type":"TEXT","dc:type":[{"@xml:lang":"sl","#text":"znanstveno časopisje"},{"@xml:lang":"en","#text":"journals"},{"@rdf:resource":"http://www.wikidata.org/entity/Q361785"}]},"ore:Aggregation":{"@rdf:about":"http://www.dlib.si/?URN=URN:NBN:SI:doc-ZBTODT9E","edm:aggregatedCHO":{"@rdf:resource":"URN:NBN:SI:doc-ZBTODT9E"},"edm:isShownBy":{"@rdf:resource":"http://www.dlib.si/stream/URN:NBN:SI:doc-ZBTODT9E/3573bd0c-ff93-4c8c-9c29-e3c6fb9186ed/PDF"},"edm:rights":{"@rdf:resource":"http://rightsstatements.org/vocab/InC/1.0/"},"edm:provider":"Slovenian National E-content Aggregator","edm:intermediateProvider":{"@xml:lang":"en","#text":"National and University Library of Slovenia"},"edm:dataProvider":{"@xml:lang":"sl","#text":"Univerza v Mariboru, Ekonomsko-poslovna fakulteta"},"edm:object":{"@rdf:resource":"http://www.dlib.si/streamdb/URN:NBN:SI:doc-ZBTODT9E/maxi/edm"},"edm:isShownAt":{"@rdf:resource":"http://www.dlib.si/details/URN:NBN:SI:doc-ZBTODT9E"}}}}