On the increasing importance of multiple criteria decision aid methods for portfolio selectionOn the increasing importance of multiple criteria decision aid methods for portfolio selection Peer-Reviewed Journal Publication Δημοσίευση σε Περιοδικό με Κριτές 2019-05-312018enIn 1952, Markowitz published his famous paper on portfolio selection that transformed the field of finance. Although over 65 years have passed since then, the mean-variance model remains today the predominant model in portfolio selection. Having endured many criticisms over this period, the one that has perhaps been the most persistent is the fact that mainstream mean-variance theory is unable to accommodate additional criteria beyond expected return and variance. With investment decision-making having become more complex, this is a real problem as many problems with additional criteria exist and are only increasing in number and importance. In this paper, we review the papers that have been published that apply methods and procedures in an exact (as opposed to evolutionary) sense to address problems in portfolio selection with criteria beyond mean and variance. We also analyse the methodologies that allow the solution of the problem in a multiple criteria context, thus extending the features of the mean-variance approach that have caused portfolio theory to have such impact.http://creativecommons.org/licenses/by/4.0/Journal of the Operational Research Society69101525-1542 Aouni, Belaïd, 1961- Doumpos Michail Δουμπος Μιχαηλ Pérez-Gladish, Blanca Διπλωματική Εργασία Diploma Work Taylor & Francis Multi-objective programming Portfolio selection Multiple criteria decision aid Portfolio optimisation Security selection