混合型基金绩效评估及驱动因素分析——基于DEA-Tobit模型  

Performance Evaluation and Driving Factors Analysis of Hybrid Funds:Based on DEA-Tobit model

作　　者：李彦萱 LI Yan-xuan(Business School,University of Shanghai for Science and Technology,Shanghai 200093,China)

机构地区：[1]上海理工大学管理学院,上海200093

出　　处：《科技和产业》2021年第8期8-13,共6页Science Technology and Industry

摘　　要：将随机选出的混合型基金作为研究样本,采用DEA-Tobit二阶段模型进行研究。首先利用数据包络模型对样本进行绩效评估,在此基础上,利用Tobit模型研究相关指标对于基金绩效的影响机制。结果表明,基金本身所面临的风险收益因素以及基金经理团队稳定性对于基金绩效均具显著影响。最后结合实证结果就提升中国基金绩效提出相关的建议。DEA-Tobit two-stage model is used to study the randomly selected mixed funds.Firstly,the data envelopment model is used to evaluate the performance of the samples.On this basis,Tobit model is used to study the impact mechanism of relevant indicators on fund performance.The results show that the risk return factors faced by the fund itself and the stability of the fund manager team have a significant impact on the fund performance.Finally,combined with the empirical results,some suggestions are put forward to improve the fund performance in China.

关 键 词：混合型基金 绩效评价 驱动因素 DEA模型 TOBIT模型 

分 类 号：F832.48[经济管理—金融学]