Estudo comparativo dos modelos de Markowitz e Sharpe

A teoria da carteira de Harry Markowitz, originalmente publicada em 1952 no Journal of Finance, "Portfolio Selection", desenvolveu um método de solução geral do problema da estrutura das carteiras, que engloba o tratamento quantificado do risco. Propõe a determinação de um conjunto de carteiras eficientes empregando unicamente os conceitos de média para a rentabilidade que se espera obter e de variância (ou desvio padrão) para a incerteza associada a essa rentabilidade, e daí a denominação de média-variância à análise de Markowitz. Chamou também a atenção para a diversificação das carteiras, mostrando como um investidor pode reduzir o desvio padrão da rendibilidade da carteira através da escolha de acções cujas variações não sejam exactamente paralelas.

Detection of ZnS phases in CZTS thin-films by EXAFS

Copper zinc tin sulfide (CZTS) is a promising Earthabundant thin-film solar cell material; it has an appropriate band gap of ~1.45 eV and a high absorption coefficient. The most efficient CZTS cells tend to be slightly Zn-rich and Cu-poor. However, growing Zn-rich CZTS films can sometimes result in phase decomposition of CZTS into ZnS and Cu2SnS3, which is generally deleterious to solar cell performance. Cubic ZnS is difficult to detect by XRD, due to a similar diffraction pattern. We hypothesize that synchrotron-based extended X-ray absorption fine structure (EXAFS), which is sensitive to local chemical environment, may be able to determine the quantity of ZnS phase in CZTS films by detecting differences in the second-nearest neighbor shell of the Zn atoms. Films of varying stoichiometries, from Zn-rich to Cu-rich (Zn-poor) were examined using the EXAFS technique. Differences in the spectra as a function of Cu/Zn ratio are detected. Linear combination analysis suggests increasing ZnS signal as the CZTS films become more Zn-rich. We demonstrate that the sensitive technique of EXAFS could be used to quantify the amount of ZnS present and provide a guide to crystal growth of highly phase pure films.