The Research of Applying Consistent Fuzzy Preference Relations to Assess Decision Factors for Purchasing Asian High Yield Bond Funds

• Main Authors: Cheng-Ching Yuan, 袁正清
• Other Authors: Yueh-Hsiang Chen
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/9ez43b

碩士 === 高苑科技大學 === 資訊科技應用研究所 === 101 === The point of view of asset allocation, bond funds is indispensable. It can reduce the volatility of the performance, and long-term cumulative returns will not necessarily lose equity funds. Whether industry or academia there is few assessment method for the choice of bond funds now, so that the study explores the theme is meaningful and valuable. The benefit and risk of high yield bond funds are between equity funds and bond funds ,so the advantages of high yield bond funds are both low risk and high shares. Because the overall economic environment continues to improve in Asia and default rate of Asian bond continues to decline, Asian high yield bond funds have been welcomed by more and more institutional and general investors in recent years. But how to provide a bond funds selection model helps the investors to choose from numerous different bond funds in the market is the purpose of this study. First of all, this study was covered by the existing data collection and the observations of the experts to explore the evaluation factors of the purchase of the bond funds, then calculating the weights of purchasing Asian high yield bond fund decision-making factors and assessing which is the best one of the four Asian high yield debt fund options in the study by consistent fuzzy preference relations. The findings showed that the highest weight value of evaluation elements is Five-year Fund Performance (0.1070), next for Three-year Fund Performance (0.0896), the third is Sharpe Index (0.0785). And the weight value of option B (0.285) is the highest of the four Asian high yield debt fund options, next for option A (0.280).