RT Journal Article
SR Electronic
T1 Data Envelopment Analysis of Morningstar's Small-Cap Mutual Funds
JF The Journal of Investing
FD Institutional Investor Journals
SP 87
OP 92
DO 10.3905/joi.2006.616858
VO 15
IS 1
A1 John A. Haslem
A1 Carl A. Scheraga
YR 2006
UL https://pm-research.com/content/15/1/87.abstract
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