The Efficiency of Mutual Fund Families : Insights from the Spanish Market / / by Carlos Sanchez-Gonzalez (Universidad EIA, Colombia)

• Record Nr.: UNINA9910796602303321
• Autore: Sanchez-Gonzalez Carlos
• Pubbl/distr/stampa: Bingley, England : , : Emerald Publishing, , 2018
• ISBN: 1-78743-983-6; 1-78743-799-X
• Descrizione fisica: 1 online resource (xxiii, 238 pages) : illustrations
• Disciplina: 332.63/27
• Soggetti: Financial services industry - Management; Industrial productivity - Measurement; Mutual funds; Investments, Spanish; Business & Economics, Investments & Securities / Mutual Funds; Investment & securities
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Includes index.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Front Cover; The Efficiency of Mutual Fund Families: Insights from the Spanish Market; Copyright Page; Contents; List of Figures; List of Tables; About the Author; Preface; Acknowledgments; Part I. The Efficiency of Mutual Fund Families: Using a Slacks-based Measure; Chapter 1 Introduction to Part I; Chapter 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; Chapter 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; Chapter 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; Chapter 5 Conclusions and Summary of the Applications in the Spanish Market; Appendix A; Part II. Further Evaluation of Efficiency of Mutual Fund Management Companies; ; Chapter 1 Introduction to Part II. Chapter 2 Variations of the Slacks-based Measure (SBM) of Efficiency2.1. 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. The Search for Locally Efficient Companies Applying Variation III; Chapter 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. Chapter 4 Conclusions and Summary of the Applications in the Spanish MarketAppendix B; References; Index.
• Sommario/riassunto: Gonzalez 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.