کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5111715 1483658 2017 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The efficiency of mutual fund companies: Evidence from an innovative network SBM approach
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری استراتژی و مدیریت استراتژیک
پیش نمایش صفحه اول مقاله
The efficiency of mutual fund companies: Evidence from an innovative network SBM approach
چکیده انگلیسی
This paper is the first DEA (Data Envelopment Analysis) evaluation of the efficiency of a sample of mutual fund companies in a large Euro fund industry, i.e. Spain. Our novel network model links the efficiency of the core activities (portfolio management and marketing/distribution) of a mutual fund company to the efficiency of its operational management function. Our results highlight the important networking effects at the marketing stage and question the prime role of portfolio management skills in the overall efficiency of a mutual fund company. The evaluation of robust efficiency clusters indicates that the efficiency rankings obtained with our network model persist significantly along our sample period. Finally, the application of the SBM (Slacks-Based Measure) Variation III to our network model allows us to identify a large number of globally inefficient but locally efficient companies with reference to competitors with similar management resources.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Omega - Volume 71, September 2017, Pages 114-128
نویسندگان
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