The Efficiency of Mutual Fund Families :: Insights from the Spanish Market /
"Sánchez-González develops an innovative model that considers different management stages of mutual fund companies, overcoming the traditional dispute between the different approaches used in banking and insurance research. Research on the mutual fund industry has been primarily focused on mu...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Bingley, UK :
Emerald,
2018.
|
| Ausgabe: | First edition. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "Sánchez-González develops an innovative model that considers different management stages of mutual fund companies, overcoming the traditional dispute between the different approaches used in banking and insurance research. Research on the mutual fund industry has been primarily focused on mutual funds rather than on their management companies. This new work fills this gap in the empirical knowledge of the efficiency obtained by mutual fund management companies. The research analyses the Spanish case, which is one of the most relevant fund industries in the Euro market, providing new insights into issues that have not been explored prior. Data envelopment analysis (DEA) is the basic methodology used to evaluate the efficiency level. The book consists of two parts. The first part includes the basic concepts, a brief explanation of the basic DEA models, and a review of the most important applications to financial institutions. The authors formulate the multi-management stage model and the unique set of fund industry-specific variables used in this research. Subsequently, the efficiency of Spanish mutual fund companies is evaluated using the SBM approach. Finally, this part concludes and summarises the major findings of the efficiency analysis. The second part of the book reviews the major concepts of the variations in the original SBM approach and the more accurate empirical results of these SBM variants in the Spanish mutual fund industry. Subsequently, this part illustrates the persistence phenomenon to further determine whether any relevant factors may drive the efficiency results previously obtained. Finally, the second part presents conclusions and a summary of the major findings."-- |
| Beschreibung: | 1 online resource |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9781787437999 178743799X |
Internformat
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| 100 | 1 | |a Sánchez-González, Carlos, |e author. | |
| 245 | 1 | 4 | |a The Efficiency of Mutual Fund Families : |b Insights from the Spanish Market / |c Carlos Sánchez-González. |
| 250 | |a First edition. | ||
| 264 | 1 | |a Bingley, UK : |b Emerald, |c 2018. | |
| 300 | |a 1 online resource | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 588 | |a Online resource; title from PDF title page (EBSCO, viewed March 29, 2018). | ||
| 504 | |a Includes bibliographical references and index. | ||
| 520 | |a "Sánchez-González develops an innovative model that considers different management stages of mutual fund companies, overcoming the traditional dispute between the different approaches used in banking and insurance research. Research on the mutual fund industry has been primarily focused on mutual funds rather than on their management companies. This new work fills this gap in the empirical knowledge of the efficiency obtained by mutual fund management companies. The research analyses the Spanish case, which is one of the most relevant fund industries in the Euro market, providing new insights into issues that have not been explored prior. Data envelopment analysis (DEA) is the basic methodology used to evaluate the efficiency level. The book consists of two parts. The first part includes the basic concepts, a brief explanation of the basic DEA models, and a review of the most important applications to financial institutions. The authors formulate the multi-management stage model and the unique set of fund industry-specific variables used in this research. Subsequently, the efficiency of Spanish mutual fund companies is evaluated using the SBM approach. Finally, this part concludes and summarises the major findings of the efficiency analysis. The second part of the book reviews the major concepts of the variations in the original SBM approach and the more accurate empirical results of these SBM variants in the Spanish mutual fund industry. Subsequently, this part illustrates the persistence phenomenon to further determine whether any relevant factors may drive the efficiency results previously obtained. Finally, the second part presents conclusions and a summary of the major findings."-- |c Provided by publisher. | ||
| 505 | 0 | 0 | |g Machine generated contents note: |g pt. I |t Efficiency of Mutual Fund Families: Using a Slacks-based Measure -- |g ch. 1 |t Introduction to Part I -- |g ch. 2 |t Background -- |g 2.1. |t Basic Concepts -- |g 2.2. |t Basic DEA Models -- |g 2.3. |t Applications to Financial Institutions -- |g 2.3.1. |t Context of Study -- |g 2.3.2. |t Review of Frontier Studies in Financial Institutions -- |g 2.3.3. |t Discussion on the Production and Asset Approaches -- |g ch. 3 |t Model and Variables -- |g 3.1. |t Multi-management Stages Model in a Mutual Fund Management Company (MFMC) -- |g 3.2. |t Variables of the Model: The Case of the Spanish Market -- |g ch. 4 |t Data and Empirical Analysis: The Case of the Spanish Market -- |g 4.1. |t Data -- |g 4.2. |t Empirical Analysis -- |g 4.3. |t Influence of the Variable-returns-to-scale on the Efficiency Rankings -- |g 4.4. |t Robustness of the More Controversial Variables of the Model -- |g ch. 5 |t Conclusions and Summary of the Applications in the Spanish Market -- |t Appendix A -- |g pt. II |t Further Evaluation of Efficiency of Mutual Fund Management Companies -- |g ch. 1 |t Introduction to Part II -- |g ch. 2 |t Variations of the Slacks-based Measure (SBM) of Efficiency -- |g 2.1. |t Basic Concepts of the New Measures -- |g 2.2. |t Comparative Evaluation between the SBM Original Model and SBM Variation I -- |g 2.3. |t Random Searches for Facets (Variation IV) -- |g 2.4. |t Search for Locally Efficient Companies Applying Variation III -- |g ch. 3 |t Persistence in Funds Management Companies: Do the Best Winners and Losers Usually Repeat? -- |g 3.1. |t Persistence Studies in the Mutual Fund Industry -- |g 3.2. |t Methodology of Performance Persistence -- |g 3.3. |t Empirical Results of Efficiency Persistence: The Case of the Spanish Market -- |g ch. 4 |t Conclusions and Summary of the Applications in the Spanish Market -- |t Appendix B. |
| 650 | 0 | |a Financial services industry |x Management. | |
| 650 | 0 | |a Industrial productivity |x Measurement. |0 http://id.loc.gov/authorities/subjects/sh85065917 | |
| 650 | 0 | |a Mutual funds. |0 http://id.loc.gov/authorities/subjects/sh85067714 | |
| 650 | 0 | |a Investments, Spanish. |0 http://id.loc.gov/authorities/subjects/sh85067754 | |
| 650 | 6 | |a Services financiers |x Gestion. | |
| 650 | 6 | |a Productivité |x Mesure. | |
| 650 | 6 | |a Investissements espagnols. | |
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| 650 | 7 | |a Mutual funds |2 fast | |
| 776 | 0 | 8 | |i Print version: |a Sánchez-González, Carlos. |t Efficiency of Mutual Fund Families. |b First edition. |d Bingley, UK : Emerald, 2018 |z 1787438007 |z 9781787438002 |w (OCoLC)1005125913 |
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| author | Sánchez-González, Carlos |
| author_facet | Sánchez-González, Carlos |
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| contents | Efficiency of Mutual Fund Families: Using a Slacks-based Measure -- Introduction to Part I -- Background -- Basic Concepts -- Basic DEA Models -- Applications to Financial Institutions -- Context of Study -- Review of Frontier Studies in Financial Institutions -- Discussion on the Production and Asset Approaches -- Model and Variables -- Multi-management Stages Model in a Mutual Fund Management Company (MFMC) -- Variables of the Model: The Case of the Spanish Market -- Data and Empirical Analysis: The Case of the Spanish Market -- Data -- Empirical Analysis -- Influence of the Variable-returns-to-scale on the Efficiency Rankings -- Robustness of the More Controversial Variables of the Model -- Conclusions and Summary of the Applications in the Spanish Market -- Appendix A -- Further Evaluation of Efficiency of Mutual Fund Management Companies -- Introduction to Part II -- Variations of the Slacks-based Measure (SBM) of Efficiency -- Basic Concepts of the New Measures -- Comparative Evaluation between the SBM Original Model and SBM Variation I -- Random Searches for Facets (Variation IV) -- Search for Locally Efficient Companies Applying Variation III -- Persistence in Funds Management Companies: Do the Best Winners and Losers Usually Repeat? -- Persistence Studies in the Mutual Fund Industry -- Methodology of Performance Persistence -- Empirical Results of Efficiency Persistence: The Case of the Spanish Market -- Appendix B. |
| ctrlnum | (OCoLC)1029759753 |
| dewey-full | 332.1068 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1068 |
| dewey-search | 332.1068 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | First edition. |
| format | Electronic eBook |
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| id | ZDB-4-EBA-on1029759753 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-27T13:28:16Z |
| institution | BVB |
| isbn | 9781787437999 178743799X |
| language | English |
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| publisher | Emerald, |
| record_format | marc |
| spelling | Sánchez-González, Carlos, author. The Efficiency of Mutual Fund Families : Insights from the Spanish Market / Carlos Sánchez-González. First edition. Bingley, UK : Emerald, 2018. 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier Online resource; title from PDF title page (EBSCO, viewed March 29, 2018). Includes bibliographical references and index. "Sánchez-González develops an innovative model that considers different management stages of mutual fund companies, overcoming the traditional dispute between the different approaches used in banking and insurance research. Research on the mutual fund industry has been primarily focused on mutual funds rather than on their management companies. This new work fills this gap in the empirical knowledge of the efficiency obtained by mutual fund management companies. The research analyses the Spanish case, which is one of the most relevant fund industries in the Euro market, providing new insights into issues that have not been explored prior. Data envelopment analysis (DEA) is the basic methodology used to evaluate the efficiency level. The book consists of two parts. The first part includes the basic concepts, a brief explanation of the basic DEA models, and a review of the most important applications to financial institutions. The authors formulate the multi-management stage model and the unique set of fund industry-specific variables used in this research. Subsequently, the efficiency of Spanish mutual fund companies is evaluated using the SBM approach. Finally, this part concludes and summarises the major findings of the efficiency analysis. The second part of the book reviews the major concepts of the variations in the original SBM approach and the more accurate empirical results of these SBM variants in the Spanish mutual fund industry. Subsequently, this part illustrates the persistence phenomenon to further determine whether any relevant factors may drive the efficiency results previously obtained. Finally, the second part presents conclusions and a summary of the major findings."-- Provided by publisher. Machine generated contents note: pt. I Efficiency of Mutual Fund Families: Using a Slacks-based Measure -- ch. 1 Introduction to Part I -- ch. 2 Background -- 2.1. Basic Concepts -- 2.2. Basic DEA Models -- 2.3. Applications to Financial Institutions -- 2.3.1. Context of Study -- 2.3.2. Review of Frontier Studies in Financial Institutions -- 2.3.3. Discussion on the Production and Asset Approaches -- ch. 3 Model and Variables -- 3.1. Multi-management Stages Model in a Mutual Fund Management Company (MFMC) -- 3.2. Variables of the Model: The Case of the Spanish Market -- ch. 4 Data and Empirical Analysis: The Case of the Spanish Market -- 4.1. Data -- 4.2. Empirical Analysis -- 4.3. Influence of the Variable-returns-to-scale on the Efficiency Rankings -- 4.4. Robustness of the More Controversial Variables of the Model -- ch. 5 Conclusions and Summary of the Applications in the Spanish Market -- Appendix A -- pt. II Further Evaluation of Efficiency of Mutual Fund Management Companies -- ch. 1 Introduction to Part II -- ch. 2 Variations of the Slacks-based Measure (SBM) of Efficiency -- 2.1. Basic Concepts of the New Measures -- 2.2. Comparative Evaluation between the SBM Original Model and SBM Variation I -- 2.3. Random Searches for Facets (Variation IV) -- 2.4. Search for Locally Efficient Companies Applying Variation III -- ch. 3 Persistence in Funds Management Companies: Do the Best Winners and Losers Usually Repeat? -- 3.1. Persistence Studies in the Mutual Fund Industry -- 3.2. Methodology of Performance Persistence -- 3.3. Empirical Results of Efficiency Persistence: The Case of the Spanish Market -- ch. 4 Conclusions and Summary of the Applications in the Spanish Market -- Appendix B. Financial services industry Management. Industrial productivity Measurement. http://id.loc.gov/authorities/subjects/sh85065917 Mutual funds. http://id.loc.gov/authorities/subjects/sh85067714 Investments, Spanish. http://id.loc.gov/authorities/subjects/sh85067754 Services financiers Gestion. Productivité Mesure. Investissements espagnols. Investment & securities. bicssc BUSINESS & ECONOMICS Finance. bisacsh Financial services industry Management fast Industrial productivity Measurement fast Investments, Spanish fast Mutual funds fast Print version: Sánchez-González, Carlos. Efficiency of Mutual Fund Families. First edition. Bingley, UK : Emerald, 2018 1787438007 9781787438002 (OCoLC)1005125913 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1595581 Volltext |
| spellingShingle | Sánchez-González, Carlos The Efficiency of Mutual Fund Families : Insights from the Spanish Market / Efficiency of Mutual Fund Families: Using a Slacks-based Measure -- Introduction to Part I -- Background -- Basic Concepts -- Basic DEA Models -- Applications to Financial Institutions -- Context of Study -- Review of Frontier Studies in Financial Institutions -- Discussion on the Production and Asset Approaches -- Model and Variables -- Multi-management Stages Model in a Mutual Fund Management Company (MFMC) -- Variables of the Model: The Case of the Spanish Market -- Data and Empirical Analysis: The Case of the Spanish Market -- Data -- Empirical Analysis -- Influence of the Variable-returns-to-scale on the Efficiency Rankings -- Robustness of the More Controversial Variables of the Model -- Conclusions and Summary of the Applications in the Spanish Market -- Appendix A -- Further Evaluation of Efficiency of Mutual Fund Management Companies -- Introduction to Part II -- Variations of the Slacks-based Measure (SBM) of Efficiency -- Basic Concepts of the New Measures -- Comparative Evaluation between the SBM Original Model and SBM Variation I -- Random Searches for Facets (Variation IV) -- Search for Locally Efficient Companies Applying Variation III -- Persistence in Funds Management Companies: Do the Best Winners and Losers Usually Repeat? -- Persistence Studies in the Mutual Fund Industry -- Methodology of Performance Persistence -- Empirical Results of Efficiency Persistence: The Case of the Spanish Market -- Appendix B. Financial services industry Management. Industrial productivity Measurement. http://id.loc.gov/authorities/subjects/sh85065917 Mutual funds. http://id.loc.gov/authorities/subjects/sh85067714 Investments, Spanish. http://id.loc.gov/authorities/subjects/sh85067754 Services financiers Gestion. Productivité Mesure. Investissements espagnols. Investment & securities. bicssc BUSINESS & ECONOMICS Finance. bisacsh Financial services industry Management fast Industrial productivity Measurement fast Investments, Spanish fast Mutual funds fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85065917 http://id.loc.gov/authorities/subjects/sh85067714 http://id.loc.gov/authorities/subjects/sh85067754 |
| title | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / |
| title_alt | Efficiency of Mutual Fund Families: Using a Slacks-based Measure -- Introduction to Part I -- Background -- Basic Concepts -- Basic DEA Models -- Applications to Financial Institutions -- Context of Study -- Review of Frontier Studies in Financial Institutions -- Discussion on the Production and Asset Approaches -- Model and Variables -- Multi-management Stages Model in a Mutual Fund Management Company (MFMC) -- Variables of the Model: The Case of the Spanish Market -- Data and Empirical Analysis: The Case of the Spanish Market -- Data -- Empirical Analysis -- Influence of the Variable-returns-to-scale on the Efficiency Rankings -- Robustness of the More Controversial Variables of the Model -- Conclusions and Summary of the Applications in the Spanish Market -- Appendix A -- Further Evaluation of Efficiency of Mutual Fund Management Companies -- Introduction to Part II -- Variations of the Slacks-based Measure (SBM) of Efficiency -- Basic Concepts of the New Measures -- Comparative Evaluation between the SBM Original Model and SBM Variation I -- Random Searches for Facets (Variation IV) -- Search for Locally Efficient Companies Applying Variation III -- Persistence in Funds Management Companies: Do the Best Winners and Losers Usually Repeat? -- Persistence Studies in the Mutual Fund Industry -- Methodology of Performance Persistence -- Empirical Results of Efficiency Persistence: The Case of the Spanish Market -- Appendix B. |
| title_auth | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / |
| title_exact_search | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / |
| title_full | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / Carlos Sánchez-González. |
| title_fullStr | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / Carlos Sánchez-González. |
| title_full_unstemmed | The Efficiency of Mutual Fund Families : Insights from the Spanish Market / Carlos Sánchez-González. |
| title_short | The Efficiency of Mutual Fund Families : |
| title_sort | efficiency of mutual fund families insights from the spanish market |
| title_sub | Insights from the Spanish Market / |
| topic | Financial services industry Management. Industrial productivity Measurement. http://id.loc.gov/authorities/subjects/sh85065917 Mutual funds. http://id.loc.gov/authorities/subjects/sh85067714 Investments, Spanish. http://id.loc.gov/authorities/subjects/sh85067754 Services financiers Gestion. Productivité Mesure. Investissements espagnols. Investment & securities. bicssc BUSINESS & ECONOMICS Finance. bisacsh Financial services industry Management fast Industrial productivity Measurement fast Investments, Spanish fast Mutual funds fast |
| topic_facet | Financial services industry Management. Industrial productivity Measurement. Mutual funds. Investments, Spanish. Services financiers Gestion. Productivité Mesure. Investissements espagnols. Investment & securities. BUSINESS & ECONOMICS Finance. Financial services industry Management Industrial productivity Measurement Investments, Spanish Mutual funds |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1595581 |
| work_keys_str_mv | AT sanchezgonzalezcarlos theefficiencyofmutualfundfamiliesinsightsfromthespanishmarket AT sanchezgonzalezcarlos efficiencyofmutualfundfamiliesinsightsfromthespanishmarket |