Related theoretical issues enable to scale the portfolio

摘要

Based on a review of all the current literature, this paper raises some general theoretical issues on portfolio evaluation, making sure the portfolio's conditions set to scale in the evaluation. Through theoretical development framework, evaluation methods can be independent from asset pricing models and it can also be dependent on parameters. The realistic focus of the paper is that a more realistic and better evaluation result can be obtained through integrated adoption of various evaluation methods and development of evaluation methods suitable for portfolio's own characteristics.