This study uses data envelopment analysis (DEA) to measure the relative efficiency of 20 China closed-end funds. The sensitivity of DEA efficiency to various input-output variable combinations is investigated. More funds show up efficient when several inputs and output are taken into account. This approach eliminates the limitations of the earlier indices.
机构:
Department of Finance, Fox School of Business and Management, Temple University, PhiladelphiaDepartment of Finance, Fox School of Business and Management, Temple University, Philadelphia
Elyasiani E.
Jia J.
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机构:
Department of Economics and Finance, School of Business, Southern Illinois University, EdwardsvilleDepartment of Finance, Fox School of Business and Management, Temple University, Philadelphia