envelopment analysis (DEA) context is used for the first time to measure the relative efficiency of sectoral ETFs. In the second … stage, a Tobit model is employed to identify the drivers of performance. The results indicate there is scope for efficiency …

demonstrate that the efficient funds form the smaller part of the examined sample of funds, the average efficiency rises over time …, and that the mean-variance efficiency hypothesis holds for the inefficient funds over the whole period. Moreover, the …

applying a two-stage procedure. In the first stage, data envelopment analysis (DEA) is used to measure the relative efficiency …. Moreover, the mean-variance efficiency hypothesis holds for the inefficient funds of the sample. In addition, DEA-based fund … mutual funds using for first time the DEA framework and to explain fund performance by employing a Tobit model. Correlation …

the efficiency analysis, there were three efficient zinc smelters in the CRS model, 14 in the VRS model and 14 in the SBM …. The average efficiency was 0.458 based on the SBM, which indicates that there is room for improvement in efficiency. In … produced and used next to iron, aluminum, and copper. In this study, DEA (data envelopment analysis) was applied to measure the …