In recent years there has been an exponential growth in the number of publications related
to theory and applications of Data Envelopment Analysis (DEA). Charnes, Cooper, and …

The objectives of this paper are manyfold. First we present a comprehensive review of the
literature of DEA models for the performance assessment of mutual funds. Then we discuss …

This paper develops theory missing in the sizable literature that uses data envelopment
analysis to construct return–risk ratios for investment funds. It explores the production …

We propose new diversification-consistent DEA models suitable for assessing efficiency of
investment opportunities available on financial markets. The formulations based on …

Current data envelopment analysis (DEA) models with diversification cannot discriminate
the performance of efficient mutual funds. Based on the directional distance function and …

This paper presents an application of data envelopment analysis (DEA) based approaches
to assess the relative financial and nonfinancial efficiency of mutual funds (MFs). Our …

We propose new efficiency tests which are based on traditional DEA models and take into
account portfolio diversification. The goal is to identify the investment opportunities that …

This paper aims at providing answers to the questions raised in Cook et al.(2014) in the
context of portfolio analysis with Data Envelopment Analysis (DEA). This reflection leads to …

Socially responsible investors pursue financial as well as nonfinancial goals. Whereas the
role of financial criteria in investment decisions is well understood, much less is known on …

DEA-based performance assessment in the alternative investment fund industry is often
motivated by the fact that DEA is capable of simultaneously handling multiple input (risk) and …