693
Views
11
CrossRef citations to date
0
Altmetric
Special Issue on Data Science for Better Productivity

Entrusting decisions to the public service pension fund: An integrated predictive model with additive network DEA approach

ORCID Icon, ORCID Icon &
Pages 1015-1032 | Received 06 Aug 2018, Accepted 12 Jan 2020, Published online: 06 Feb 2020

References

  • Andonov, A., Bauer, R. M., & Cremers, K. M. (2017). Pension fund asset allocation and liability discount rates. The Review of Financial Studies, 30(8), 2555–2595. doi:10.1093/rfs/hhx020
  • Ang, S., & Chen, C.-M. (2016). Pitfalls of decomposition weights in the additive multi-stage DEA model. Omega, 58, 139–153. doi:10.1016/j.omega.2015.05.008
  • Asher, M., & Bali, A. S. (2015). Public pension programs in Southeast Asia: An assessment. Asian Economic Policy Review, 10(2), 225–245. doi:10.1111/aepr.12100
  • Asher, M. G., & Bali, A. S. (2014). Financing social protection in developing Asia: Issues and options. Southeast Asian Economies, 31 (1), 68–86. doi:10.1355/ae31-1e
  • Aviles-Sacoto, S., Cook, W. D., Imanirad, R., & Zhu, J. (2015). Two-stage network DEA: When intermediate measures can be treated as outputs from the second stage. Journal of the Operational Research Society, 66(11), 1868–1877. doi:10.1057/jors.2015.14
  • Avkiran, N. K. (2001). Investigating technical and scale efficiencies of Australian universities through data envelopment analysis. Socio-Economic Planning Sciences, 35(1), 57–80. doi:10.1016/S0038-0121(00)00010-0
  • Basso, A., & Funari, S. (2017). The role of fund size in the performance of mutual funds assessed with DEA models. The European Journal of Finance, 23(6), 457–473. doi:10.1080/1351847X.2016.1164209.
  • Bédard-Pagé, G., Demers, A., Tuer, E., & Tremblay, M. (2016). Large Canadian public pension funds: A financial system perspective. Bank of Canada Financial System Review, June, 33–38.
  • Charnes, A., & Cooper, W. W. (1962). Programming with linear fractional functional. Naval Research Logistics Quarterly, 9(3-4), 181–185. doi:10.1002/nav.3800090303
  • Chen, S.-H. (2016). Determining the service demands of an aging population by integrating QFD and FMEA method. Quality & Quantity, 50(1), 283–298. doi:10.1007/s11135-014-0148-y
  • Chen, V. Z., Li, J., Shapiro, D. M., & Zhang, X. (2014). Ownership structure and innovation: An emerging market perspective. Asia Pacific Journal of Management, 31(1), 1–24. doi:10.1007/s10490-013-9357-5
  • Chen, Y., Cook, W. D., Li, N., & Zhu, J. (2009). Additive efficiency decomposition in two-stage DEA. European Journal of Operational Research, 196(3), 1170–1176. doi:10.1016/j.ejor.2008.05.011
  • Cook, W. D., Zhu, J., Bi, G., & Yang, F. (2010). Network DEA: Additive efficiency decomposition. European Journal of Operational Research, 207(2), 1122–1129. doi:10.1016/j.ejor.2010.05.006
  • Despotis, D. K., Koronakos, G., & Sotiros, D. (2016). Composition versus decomposition in two-stage network DEA: A reverse approach. Journal of Productivity Analysis, 45(1), 71–87. doi:10.1007/s11123-014-0415-x
  • Duygun, M., Prior, D., Shaban, M., & Tortosa-Ausina, E. (2016). Disentangling the European airlines efficiency puzzle: A network data envelopment analysis approach. Omega, 60, 2–14. doi:10.1016/j.omega.2015.06.004
  • Fabozzi, F. J. (2015). Measuring and explaining pension system risk. Journal of Pension Economics and Finance, 14(2), 161–171. doi:10.1017/S1474747214000420
  • Ferreira, M. A., Matos, P., Pereira, J. P., & Pires, P. (2017). Do locals know better? A comparison of the performance of local and foreign institutional investors. Journal of Banking & Finance, 82, 151–164. doi:10.1016/j.jbankfin.2017.06.002
  • Galagedera, D. U. (2019). Modelling social responsibility in mutual fund performance appraisal: A two-stage data envelopment analysis model with non-discretionary first stage output. European Journal of Operational Research, 273(1), 376–389. doi:10.1016/j.ejor.2018.08.011.
  • Galagedera, D. U. A., Roshdi, I., Fukuyama, H., & Zhu, J. (2018). A new network DEA model for mutual fund performance appraisal: An application to U.S. equity mutual funds. Omega, 77, 168–179. doi:10.1016/j.omega.2017.06.006
  • Galagedera, D. U. A., Watson, J., Premachandra, I. M., & Chen, Y. (2016). Modeling leakage in two-stage DEA models: An application to US mutual fund families. Omega, 61, 62–77. doi:10.1016/j.omega.2015.07.007
  • Globerman, S., & Shapiro, D. (2003). Governance infrastructure and US foreign direct investment. Journal of International Business Studies, 34(1), 19–39. doi:10.1057/palgrave.jibs.8400001
  • Gonzalez, M., Molina, C. A., Pablo, E., & Rosso, J. W. (2017). The effect of ownership concentration and composition on dividends: Evidence from Latin America. Emerging Markets Review, 30, 1–18. doi:10.1016/j.ememar.2016.08.018
  • Guo, C., Shureshjani, R. A., Foroughi, A. A., & Zhu, J. (2017). Decomposition weights and overall efficiency in two-stage additive network DEA. European Journal of Operational Research, 257(3), 896–906. doi:10.1016/j.ejor.2016.08.002
  • Hymer, S. H. (1976). The international operations of national firms: A study of direct foreign investment. Cambridge, MA: MIT Press.
  • Kao, C. (2014). Network data envelopment analysis: A review. European Journal of Operational Research, 239(1), 1–16. doi:10.1016/j.ejor.2014.02.039
  • Kao, C., & Hwang, S.-N. (2008). Efficiency decomposition in two-stage data envelopment analysis: An application to non-life insurance companies in Taiwan. European Journal of Operational Research, 185(1), 418–429. doi:10.1016/j.ejor.2006.11.041
  • Lepore, L., Paolone, F., & Cambrea, D. R. (2018). Ownership structure, investors’ protection and corporate valuation: The effect of judicial system efficiency in family and non-family firms. Journal of Management and Governance, 22(4), 829–862. doi:10.1007/s10997-018-9405-0
  • Li, J. J., Poppo, L., & Zhou, K. Z. (2010). Relational mechanisms, formal contracts, and local knowledge acquisition by international subsidiaries. Strategic Management Journal, 31(4), 349–370. doi:10.1002/smj.813
  • Li, S., Easterby-Smith, M., Lyles, M. A., & Clark, T. (2016). Tapping the power of local knowledge: A local-global interactive perspective. Journal of World Business, 51(4), 641–653. doi:10.1016/j.jwb.2016.04.001
  • Li, X. Y. (2018). Efficiency measures of the Chinese biogas project subsidy policy using an additive two stage DEA. Journal of Renewable and Sustainable Energy, 10(1), 015907. doi:10.1063/1.5008589
  • Lin, J., & Sung, J. (2017). A look into the United States’ Underfunded Pension System. International Journal of Business and Applied Social Science, 3(9), 9–18.
  • Lu, W.-M., Liu, J. S., Kweh, Q. L., & Wang, C.-W. (2016). Exploring the benchmarks of the Taiwanese investment trust corporations: Management and investment efficiency perspectives. European Journal of Operational Research, 248(2), 607–618. doi:10.1016/j.ejor.2015.06.065
  • Murthi, B. P. S., Choi, Y. K., & Desai, P. (1997). Efficiency of mutual funds and portfolio performancemeasurement: A non-parametric approach. European Journal of Operational Research, 98(2), 408–418. doi:10.1016/S0377-2217(96)00356-6
  • Nourani, M., Devadason, E. S., Kweh, Q. L., & Lu, W.-M. (2017). Business excellence: The managerial and value-creation efficiencies of the insurance companies. Total Quality Management & Business Excellence, 28(7-8), 879–896. doi:10.1080/14783363.2015.1133244
  • Peng, H. L., Hsiao, C. T., & Yao, M. H. (2016). Systemic analysis of pensions: The case of the Taiwanese primary school teacher pension fund. Systems Research and Behavioral Science, 33(1), 159–172. doi:10.1002/sres.2320
  • Premachandra, I., Zhu, J., Watson, J., & Galagedera, D. U. (2012). Best-performing US mutual fund families from 1993 to 2008: Evidence from a novel two-stage DEA model for efficiency decomposition. Journal of Banking & Finance, 36(12), 3302–3317. doi:10.1016/j.jbankfin.2012.07.018
  • Premachandra, I. M., Zhu, J., Watson, J., & Galagedera, D. U. A. (2016). Mutual fund industry performance: A network data envelopment analysis approach. In: Zhu J. (Eds.), Data Envelopment Analysis. International Series in Operations Research & Management Science (pp. 165–228. New York: Springer, Boston, MA.
  • Rozanov, A. (2015). Public pension fund management: Best practice and international experience. Asian Economic Policy Review, 10(2), 275–295. doi:10.1111/aepr.12106
  • Sahoo, B. K., Zhu, J., Tone, K., & Klemen, B. M. (2014). Decomposing technical efficiency and scale elasticity in two-stage network DEA. European Journal of Operational Research, 233(3), 584–594. doi:10.1016/j.ejor.2013.09.046
  • Shi, X., Li, Y. J., Emrouznejad, A., Xie, J. H., & Liang, L. (2017). Estimation of potential gains from bank mergers: A novel two-stage cost efficiency DEA model. Journal of the Operational Research Society, 68(9), 1045–1055. doi:10.1057/s41274-016-0106-2
  • Simar, L., & Wilson, P. W. (2007). Estimation and inference in two-stage, semi-parametric models of production processes. Journal of Econometrics, 136(1), 31–64. doi:10.1016/j.jeconom.2005.07.009
  • Tajbakhsh, A., & Hassini, E. (2018). Evaluating sustainability performance in fossil-fuel power plants using a two-stage data envelopment analysis. Energy Economics, 74, 154–178. doi:10.1016/j.eneco.2018.05.032
  • Tone, K. (2013). Resampling in DEA. National Graduate Institute for Policy Studies, Japan, GRIPS Discussion Papers, 13–23.
  • Wang, K., Huang, W., Wu, J., & Liu, Y. N. (2014). Efficiency measures of the Chinese commercial banking system using an additive two-stage DEA. Omega, 44, 5–20. doi:10.1016/j.omega.2013.09.005
  • Wu, J., Xiong, B., An, Q., Sun, J., & Wu, H. (2017). Total-factor energy efficiency evaluation of Chinese industry by using two-stage DEA model with shared inputs. Annals of Operations Research, 255(1-2), 257–276. doi:10.1007/s10479-015-1938-x
  • Wu, J., Zhu, Q., Ji, X., Chu, J., & Liang, L. (2016). Two-stage network processes with shared resources and resources recovered from undesirable outputs. European Journal of Operational Research, 251(1), 182–197. doi:10.1016/j.ejor.2015.10.049
  • Zhou, Z., Xiao, H., Jin, Q., & Liu, W. (2018). DEA frontier improvement and portfolio rebalancing: An application of China mutual funds on considering sustainability information disclosure. European Journal of Operational Research, 269(1), 111–131. doi:10.1016/j.ejor.2017.07.010.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.