Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/239174 
Year of Publication: 
2020
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 13 [Issue:] 5 [Publisher:] MDPI [Place:] Basel [Year:] 2020 [Pages:] 1-13
Publisher: 
MDPI, Basel
Abstract: 
This paper documents a new series two-stage data envelopment analysis (DEA) modeling framework for mutual fund performance evaluation in terms of operational and portfolio management efficiency that is implemented to a sample of precious metal mutual funds (PMMFs). In the first and second stage, one-input/one-output and multi-input/one-output settings are used, respectively. In the light of the results, the funds assessed are inefficient in both operational and portfolio management process and in particular, they seem to be more inefficiently operated. The operational management efficiency is correlated with portfolio management efficiency and, therefore, sample funds should give more emphasis on their operational policies to ensure their success in the industry. The research framework may not only benefit PMMFs, but also funds of other classes to quantify their performance and improve their competitive advantages.
Subjects: 
precious metal mutual funds
efficiency
data envelopment analysis
series two-stage DEA
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size
523.47 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.