Efficiency of mutual fund managers: a slacks-based manager efficiency index
Resumen: This paper develops an innovative slacks-based manager efficiency index (SMEI) to evaluate the efficiency of mutual fund managers. First, the SMEI contributes to decisions by evaluating the efficiency of the manager as a whole instead of focusing on individual mutual funds. Second, the SMEI includes socio-demographic variables to extend the mere consideration of financial variables in the model. Third, the SMEI identifies locally efficient but globally inefficient managers. This local SMEI evaluates managers in reference to the ‘best practice’ competitors with similar management characteristics. Finally, this paper includes a real application of the SMEI in a sample of individual managers in the Spanish mutual fund industry. This empirical illustration further examines the persistence of the efficiency scores and the influence of the SMEI variables on the efficiency of individual managers.
Idioma: Inglés
DOI: 10.1016/j.ejor.2018.09.013
Año: 2019
Publicado en: European Journal of Operational Research 273, 3 (2019), 1180-1193
ISSN: 0377-2217

Factor impacto JCR: 4.213 (2019)
Categ. JCR: OPERATIONS RESEARCH & MANAGEMENT SCIENCE rank: 14 / 83 = 0.169 (2019) - Q1 - T1
Factor impacto SCIMAGO: 2.364 - Computer Science (miscellaneous) (Q1) - Modeling and Simulation (Q1) - Management Science and Operations Research (Q1) - Information Systems and Management (Q1)

Financiación: info:eu-repo/grantAgreement/ES/MINECO/ECO2013-45568-R
Financiación: info:eu-repo/grantAgreement/ES/UZ/JIUZ-2016-SOC-01
Tipo y forma: Article (PostPrint)
Área (Departamento): Área Economía Finan. y Contab. (Dpto. Contabilidad y Finanzas)

Creative Commons You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes. If you remix, transform, or build upon the material, you may not distribute the modified material.


Exportado de SIDERAL (2024-01-11-10:59:06)


Visitas y descargas

Este artículo se encuentra en las siguientes colecciones:
Articles



 Record created 2020-01-03, last modified 2024-01-11


Postprint:
 PDF
Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)