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dc.contributor.authorBabalos, V-
dc.contributor.authorCaporale, GM-
dc.contributor.authorPhilippas, N-
dc.identifier.citationEconomics and Finance Discussion Paper, Brunel University, 09-22.en
dc.description.abstractThis 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 e¤ect 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.en
dc.format.extent155689 bytes-
dc.publisherBrunel Universityen
dc.subjectdata envelopment analysis; portfolio efficiency; performance evaluationen
dc.titleEvaluating Greek equity funds using data envelopment analysisen
dc.typeWorking Paperen
Appears in Collections:Economics and Finance
Dept of Economics and Finance Research Papers

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