A fuzzy data envelopment analysis model for evaluating the efficiency of socially responsible and conventional mutual funds

Baeza-Sampere, I.; Coll-Serrano, Vicente; M’Zali, Bouchra

doi:10.21314/jor.2016.340

Cited by 4 publications

(3 citation statements)

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“…Although the approaches proposed in this study are completely different, other authors have used Fuzzy methodologies to directly or indirectly study the relation between socially responsible strategies and the FP of organizations. Baeza‐Sampere, Coll‐Serrano, M'Zali, and Mendez‐Rodriguez () used a fuzzy DEA model for evaluating the efficiency of socially responsible and conventional mutual funds. Khan, Ali, Olya, Zulqarnain, and Khan () used a fuzzy set qualitative comparative analysis (fsQCA) to examine the relationship between CSR, transformational leadership, and performance.…”

Section: Introductionmentioning

confidence: 99%

The relation between corporate social responsibility certification and financial performance: An empirical study in Spain

Brotons

Sansalvador

2020

Corp Soc Responsibility Env

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The relation between corporate social responsibility (CSR) and financial performance (FP) has been widely dealt with in specialized literature. This study has two points of interest: first, we develop a new tool which financially quantifies the value contributed to companies that are committed to CSR; then, we make a practical application of this tool through an empirical study focused on Spanish companies. This study is especially innovative because of the fuzzy methodology used and the way it defines CSR through the IQNet SR10 certification of social responsibility systems. In addition, the measurement of CSR through IQNet SR10 certification is a completely new approach to the subject. An interesting conclusion can be drawn from the empirical study: IQNet SR10 CSR certification increases the value of businesses. However, neither size nor the economic sector they belong to influence this relationship significantly. K E Y W O R D Scorporate social responsibility, empirical study, financial performance, fuzzy logic, IQNet SR10

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Section: Introductionmentioning

confidence: 99%

The relation between corporate social responsibility certification and financial performance: An empirical study in Spain

Brotons

Sansalvador

2020

Corp Soc Responsibility Env

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“…Bu kapsamda çalışmamızın literatürdeki bu boşluğu doldurma yönünde katkı sunması beklenmektedir. Bununla birlikte, lojistik (Azadeh & Alem, 2010;Azadeh, Atrchin, Salehi & Shojaei, 2014;Azadi, Jafarian, Saen, R. & Mirhedayatian, 2015;Amindoust, 2018;Chen, Yu & Ho, 2018), bankacılık ve finans (Che, Wang & Chuang, 2010;Hajiagha, Akrami, Kazimieras Zavadskas & Hashemi,2013;Baeza-Sampere, Coll, Mzali & Méndez-Rodríguez, 2016;Beheshtinia & Omidi,2017), otel hizmetleri (Fu, Chu, Chao, Lee &Liao, 2011), kimya (Han, Geng, Zhu & Qu, 2015), çimento (Abbasi & Kaviani 2016), enerji (Azadeh, Farmand & Sharahi, 2012;Azadeh, Rahimi-Golkhandan & Moghaddam, 2014;Gan, Xu, Hu & Wang, 2017;He, Liao & Zhou, 2018), üretim sistemleri ( Liu, 2008;Azadeh, Anvari, Ziaei & Sadeghi, 2010;Azadeh, Moghaddam, Asadzadeh & Negahban, 2011) ve sağlık (Rouyendegh, Oztekin, Ekong & Dag,2016;Arya & Yadav, 2018;Ahmadvand & Pishvae 2018) alanlarında bulanık yöntem çalışmalarına sıklıkla rastlanılmaktadır.…”

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Bulanık Malmquist Verimlilik Endeksi ile Dinamik Etkinlik Ölçümü: ÇAYKUR Örneği

Özdemir

Çakır

2021

Artvin Çoruh Üniversitesi Uluslararası Sosyal Bilimler Dergisi

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One of the most important issues in the management of businesses is performance evaluation. Measuring the efficiency organizations and providing appropriate solutions for inefficient units ensures increased productivity in units. Public and private tea companies operating in Turkey need to make strategic decisions on efficient resource utilization in order to increase their competitiveness in both the national and global markets. In this study, the increase or decrease in the efficiency of the General Directorate of Tea Enterprises (ÇAYKUR) factories, whose share in tea production in Turkey is about 50%, were investigated on an annual basis. In the research, the Malmquist Total Factor Productivity Index using exact data and Jahanshahloo, Lotfi & Valami Model using interval data were applied. The study contributes to the literature due to the limited number of studies to measure the change in efficiency of tea businesses in an uncertain environment. In addition, the results of the study are expected to assist managers and other stakeholders in the tea sector in strategy development and decision making.

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“…Moreover, the authors also present the various contributions of the DEA approach to specific type of SRI funds, such as the Islamic MFs. Baeza-Sampere et al (2016) use a fuzzy DEA model to examine the efficiency of forty U.S. large cap equity MFs based not only on financial variables but also on nonfinancial variables. The authors conclude that SRI MFs reveal better behavior in terms of efficiency compared to alternative conventional MFs.…”

Section: Introductionmentioning

confidence: 99%

Measuring the overall efficiency of SRI and conventional mutual funds by a diversification‐consistent DEA model

Bilbao-Terol

Arenas-Parra

Bilbao‐Terol

2021

Int Trans Operational Res

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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 approach measures corporate sustainability (CS) of the MFs from the rating process carried out by social agencies on the constituent firms. We have modified the raw scores of the firms invested in by the MFs in order to overcome the compensatory effect when the MFs invested in both "good" and "bad" firms. For this purpose, we have used prospect theory in such a manner that the original scores awarded to the firms are modified by applying a value function. Three extensions of Branda's model are formulated. The first model measures financial efficiency, the second model measures CS efficiency and is an output-oriented DEA model, and, the third is a DEA model for measuring overall efficiency of the MFs. In the last step of the proposed methodology, the set of overallefficient MFs is ranked applying technique for order of preference by similarity to ideal solution to the two DEA scores corresponding to the two partial DEA models. The risk and return measures have been chosen so that the proposed models are consistent with the second-order stochastic dominance relation. Therefore, under a finite number of equiprobable scenarios for the rates of return, a set of conditional value at risk for several confidence levels are used as inputs of the models that consider the financial performance. The proposed approach is illustrated with real data on a set of 144 French MFs, 31 marketed as socially responsible investment MFs.

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A fuzzy data envelopment analysis model for evaluating the efficiency of socially responsible and conventional mutual funds

Cited by 4 publications

References 0 publications

The relation between corporate social responsibility certification and financial performance: An empirical study in Spain

The relation between corporate social responsibility certification and financial performance: An empirical study in Spain

Bulanık Malmquist Verimlilik Endeksi ile Dinamik Etkinlik Ölçümü: ÇAYKUR Örneği

Measuring the overall efficiency of SRI and conventional mutual funds by a diversification‐consistent DEA model

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