【摘 要】
：
本文首先改进Kuosmanen and Kortelainen(2012)的随机前沿半参数模型,并运用改进模型,采用2005年1月1日至2011年6月30日我国30只样本基金的数据,实证评价基金投资效率.与以往
论文部分内容阅读
本文首先改进Kuosmanen and Kortelainen(2012)的随机前沿半参数模型,并运用改进模型,采用2005年1月1日至2011年6月30日我国30只样本基金的数据,实证评价基金投资效率.与以往的评价模型相比,改进的随机前沿半参数模型不仅结合了DEA和SFA的各自优点,还规避了基于CAPM的基金业绩评价可能造成的模型设定问题.此外,该模型不但能够更为充分和全面地评价基金的投资效率,而且可以根据研究者的自身需要将各种投入产出指标纳入基金投资效率的评价中,从而为研究者在基金评价领域提供了新的研究方法.基金投资效率的评价结果表明:首先,与传统测量指标的结果不同,我们的基金投资效率排名不仅取决于期末基金累计净值的大小或总收益率的高低,还取决于其较低的投入指标;其次,股票型基金和混合型基金的投资效率在不同基金之间差异明显,而债券型基金的投资效率在基金之间的差距较小,反映出债券型基金投资效率的稳健性.
其他文献
Solution-processable organic thermoelectric (OTE) materials have attracted much attention for their intrinsic advantages, such as low thermal conductivity, low
The commercialization of rechargeable Li metal batteries is hindered by dendrite growth and volumetric variation.Herein,we report a Li-rich dual-phase Li-Cu all
Chirality or handedness, i.e., the non-superimposability of a structure (lacking a plane or center of symmetry) with its mirrorimage, strongly impacts various c
The study of the dispersal of modern humans beyond Africa is of great importance for assessing the adaptive capacities of Homo sapiens and for addressing why we
The Yellow River is the second largest river in China, and it is of paramount importance as it serves various hydro-ecological functions for its inhabitants and
In this paper, an efficient calculation method based on discrete Fourier transformation is developed for evaluating elastic load induced elastic deformation fie
本文主要介绍了一种适合于火力发电厂煤粉仓粉位测量的新型仪表——射线式煤粉仓粉位计,文中概述了粉位计的性能、特点和工作原理。
This paper mainly introduces a new ty
Thermoelectric materials (TMs) can uniquely convert waste heat into electricity,which provides a potential solution for the global energy crisis that is increas
Hypoxia is a common feature of the most solid tumors attributing to the rapid growth and abnormal proliferation of the vascular system [1], which unfortunately
我国水核算难以满足水资源计划和管理的需要,近年来有文献提出借鉴澳大利亚的经验,建立通用目的水核算制度.本文研究发现,通用目的水核算具有诸多优点,能提高水资源管理和治