中国开放式基金全要素生产率实证分析  

Empirical Study on Total Factor Productivity of China's Open-ended Fund

作　　者：杜子平[1] 何辉[1] 张勇[2] 

机构地区：[1]天津科技大学经济与管理学院,天津300222 [2]天津市房地产开发经营集团,天津300050

出　　处：《科技管理研究》2011年第10期43-45,42,共4页Science and Technology Management Research

基　　金：国家自然科学基金项目"时序非线性相依Copula分析建模及金融领域应用研究"(71071111);"动态Copula模型的构建及其在金融领域的应用研究"(70671074);教育部人文社会科学基金项目"时空两相非线性关联建模及金融风险演化与传播研究"

摘　　要：运用基于DEA方法的Malmquist生产率指数法对我国开放式基金的全要素生产率进行实证分析。结果表明:开放式基金的全要素生产率总体上有较大下降,其中技术水平和纯技术效率同时出现下降,而规模效率略有提高;债券型基金在评价期间表现最优,年均全要素生产率保持增长,而股票型和混合型基金则不同程度地出现下降。Empirical study was made on the total factor of China＇ s openended fund with the method of Malmquist Productivity Index based on DEA. The result shows that： the total factor productivity for the fund decreased slightly with a major decrease in both technical change and pure efficiency change and a slight increase in scale change. The performance of the bond fund keeps the best state during the evaluation, and the annual average total factor productivity maintains increasing growth. However, the annual average total factor productivity of the equity fund and mixed fund declined at varying degrees.

关 键 词：开放式基金 全要素生产率 MALMQUIST指数 DEA 

分 类 号：F224[经济管理—国民经济] F832.5