English, Article, Journal or magazine article edition: Evaluating Greek Equity Funds Using Data Envelopment Analysis Vassilios Babalos; Guglielmo Maria Caporale; Nikolaos Philippas

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Bookmark: http://trove.nla.gov.au/version/67095
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Evaluating Greek Equity Funds Using Data Envelopment Analysis
Author
  • Vassilios Babalos
  • Guglielmo Maria Caporale
  • Nikolaos Philippas
Physical Description
  • preprint
Notes
  • This study assesses the relative performance of Greek equity funds employing a non-parametric method, specifically Data Envelopment Analysis (DEA). Using an original sample of cost and operational attributes we explore the effect of each variable on funds' operational efficiency for an oligopolistic and bank-dominated fund industry. Our results have significant implications for the investors' fund selection process since we are able to identify potential sources of inefficiencies for the funds. The most striking result is that the percentage of assets under management affects performance negatively, a conclusion which may be related to the structure of the domestic stock market. Furthermore, we provide evidence against the notion of funds' mean-variance efficiency.
  • Data envelopment analysis, portfolio efficiency, performance evaluation
  • RePEc:diw:diwwpp:dp906
Language
  • English
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