Abstract
In this contribution we investigate the effects of the size of mutual funds on their performance by using a Data Envelopment Analysis (DEA) approach. We discuss the role of fund size in the performance evaluation and wonder whether it is appropriate to include size information among the input/output variables of the DEA models. Moreover, we analyze the nature of returns to scale in mutual fund performance and investigate whether returns to scale are constant, increasing or decreasing in a set of European mutual funds.
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© 2014 Springer International Publishing Switzerland
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Basso, A., Funari, S. (2014). The Role of Fund Size and Returns to Scale in the Performance of Mutual Funds. In: Perna, C., Sibillo, M. (eds) Mathematical and Statistical Methods for Actuarial Sciences and Finance. Springer, Cham. https://doi.org/10.1007/978-3-319-05014-0_5
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DOI: https://doi.org/10.1007/978-3-319-05014-0_5
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-05013-3
Online ISBN: 978-3-319-05014-0
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