PT  - JOURNAL ARTICLE
AU  - John A. Haslem
AU  - Carl A. Scheraga
TI  - Data Envelopment Analysis of Morningstar's Small-Cap Mutual Funds
AID  - 10.3905/joi.2006.616858
DP  - 2006 Feb 28
TA  - The Journal of Investing
PG  - 87--92
VI  - 15
IP  - 1
4099  - https://pm-research.com/content/15/1/87.short
4100  - https://pm-research.com/content/15/1/87.full
AB  - Data Envelopment Analysis (DEA) is applied to the Morningstar 500's small-cap mutual funds to identify those that are efficient or inefficient in a production theory sense. That is, this study examines the efficiency of mutual fund portfolio management, rather than the typical analysis of fund performance. In addition, the descriptive variables—investment style attributes—that differ significantly between efficient and inefficient funds are identified, and the nature of these relationships examined. This study follows Haslem and Scheraga (2003) that applied DEA to Morningstar's large-cap funds.TOPICS: Mutual funds/passive investing/indexing, mutual fund performance