The Role of Fund Size in the Performance of Mutual Funds Assessed with DEA Models

19 Pages Posted: 5 Oct 2014

See all articles by Antonella Basso

Antonella Basso

Ca Foscari University of Venice - Dipartimento di Economia

Stefania Funari

Ca Foscari University of Venice - Department of Management

Date Written: October 1, 2014

Abstract

This contribution studies the role of the size of mutual funds in the evaluation of the fund performance with a data envelopment analysis (DEA) approach, with the aim of studying the issue from different angles and with different statistical tools and of testing the presence of economies or diseconomies of scale in the mutual funds market. Firstly, we discuss the role of fund size in the performance evaluation and wonder whether it is appropriate to include size information among the variables of DEA models. Secondly, we analyse the presence of a relationship between the performance scores and the size of mutual funds using different statistical tests and carry out an empirical investigation on a set of European equity mutual funds.

Keywords: Fund size, Mutual fund performance evaluation, Data envelopment analysis (DEA)

JEL Classification: C65, G1, G23.

Suggested Citation

Basso, Antonella and Funari, Stefania, The Role of Fund Size in the Performance of Mutual Funds Assessed with DEA Models (October 1, 2014). Department of Management, Università Ca' Foscari Venezia Working Paper No. 2014/18. Available at SSRN: https://ssrn.com/abstract=2505114 or http://dx.doi.org/10.2139/ssrn.2505114

Antonella Basso

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy
+39-041-2346914 (Phone)

HOME PAGE: http://www.unive.it/nqcontent.cfm?a_id=82251&pid=5591751

Stefania Funari (Contact Author)

Ca Foscari University of Venice - Department of Management ( email )

San Giobbe, Cannaregio 873
Venice, 30121
Italy

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