Productivity and efficiency analysis of Pakistani mutual funds using Malmquist index approach

Author:

Naz Farah1,Khan Hafsa2,Ahmad Muhammad Ishfaq3,Rehman Ramiz Ur3,Naseem Muhammad Akram3

Affiliation:

1. Department of Accounting & Finance, Kinnaird College for Women, Lahore, Pakistan

2. Department of Business Studies, Kinnaird College for Women, Lahore, Pakistan

3. Lahore Business School, The University of Lahore, Pakistan

Abstract

The key area of this research is to analyze the total factor productivity of mutual funds by using Data Envelopment Analysis (DEA) and also to identify the components which play a significant role in the growth of productivity. Malmquist productivity index approach is a nonparametric method that decomposes the index into components of productivity. The process of decomposition also helps in identifying the contribution of technology and efficiency in the growth of mutual funds in Pakistan. Empirical results suggest that efficiency growth in mutual funds is presenting the upward trend. The individual results of mutual funds showed the divergent trend. The component of pure efficiency change has a great influence on productivity growth except for all others components, and technical change has a smaller number of contributions in productivity growth.

Publisher

World Scientific Pub Co Pte Lt

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