The first attribute collection path concludes
with the selection of the investment time horizon and asset liquidity attributes. The second search
path stops at the level 3 node that includes return on investment, risk tolerance, and liquidity
properties. Investors that might be interested in a service that capitalizes on the first attribute
category??”time and liquidity at node 3??”may have different goals in mind than clients that favor
the return on investment and risk tolerance trading service (node 2.a). These approaches exhibit
two categories that may be used for further conceptual services analysis.
Which of the attribution analysis methods should be implemented? Should the top-down
approach be selected to search for the node that best fits the organization??™s business requirements?
Or should the bottom-up mechanism be chosen to filter out unimportant attributes? Since the two
82 Ch. 4 Attribution Analysis
Return
Time
Return
Liquidity
Time
Liquidity
Return
Risk
Time
Risk
Liquidity
Risk
Return
Time
Liquidity
Return
Time
Risk
Time
Liquidity
Risk
Return
Time
Liquidity
Risk
Level 1
Level 2
Level 3
Level 4
Return Time Liquidity Risk
1
2
3
1.a
2.a
Core Attributes
Converging Level
Requirements
Return
Risk
Liquidity
EXHIBIT 4.7 BACKWARD ATTRIBUTE SELECTION METHOD
options are available, why not combine these attribute searching processes? Starting at the top
of the attribution model and moving downward to a particular node does not have to signify the
end of the search.
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