A technique used to assess relative performance in a multiple input–output framework is data envelopment analysis (DEA). In basic DEA models, an entity may show its best performance by selecting input and output factor weights different from those selected by the other entities in the sample....

Outlines previous research on measuring the performance of investment funds, suggesting that data envelopment analysis (DEA) techniques can overcome some of the problems of the capital asset pricing model and give pointers for improvement. Uses DEA to assess the relative performance of 257...

The traditional data envelopment analysis (DEA) models assess equity market performance using the risk and return factor values associated only with the assessed equity market. However, in DEA models, the risk and return factors may be valued differently for different equity markets. A measure...

This paper analyses the performances of 22 developed and 18 emerging markets over the period 2003–2010. The performance is assessed each year in a multi-dimensional risk-adjusted return framework using data envelopment analysis, and the trend in the performance is estimated in a fixed effects...