Proceedings: November 15, 1962, Ambassador East Hotel, Chicago, Illinois

https://egrove.olemiss.edu/aicpa_comm/1441/thumbnail.jp

Evaluating Greek equity funds using data envelopment analysis

This study assesses the relative performance of Greek equity funds employing a non-parametric method, specifically Data Envelopment Analysis (DEA). Using an original sample of cost and operational attributes we explore the e¤ect of each variable on funds' operational efficiency for an oligopolistic and bank-dominated fund industry. Our results have significant implications for the investors' fund selection process since we are able to identify potential sources of inefficiencies for the funds. The most striking result is that the percentage of assets under management affects performance negatively, a conclusion which may be related to the structure of the domestic stock market. Furthermore, we provide evidence against the notion of funds' mean-variance efficiency

Stabilizing distinguishable qubits against spontaneous decay by detected-jump correcting quantum codes

A new class of error-correcting quantum codes is introduced capable of stabilizing qubits against spontaneous decay arising from couplings to statistically independent reservoirs. These quantum codes are based on the idea of using an embedded quantum code and exploiting the classical information available about which qubit has been affected by the environment. They are immediately relevant for quantum computation and information processing using arrays of trapped ions or nuclear spins. Interesting relations between these quantum codes and basic notions of design theory are established

A spatiotemporal Data Envelopment Analysis (S-T DEA) approach:the need to assess evolving units

One of the major challenges in measuring efficiency in terms of resources and outcomes is the assessment of the evolution of units over time. Although Data Envelopment Analysis (DEA) has been applied for time series datasets, DEA models, by construction, form the reference set for inefficient units (lambda values) based on their distance from the efficient frontier, that is, in a spatial manner. However, when dealing with temporal datasets, the proximity in time between units should also be taken into account, since it reflects the structural resemblance among time periods of a unit that evolves. In this paper, we propose a two-stage spatiotemporal DEA approach, which captures both the spatial and temporal dimension through a multi-objective programming model. In the first stage, DEA is solved iteratively extracting for each unit only previous DMUs as peers in its reference set. In the second stage, the lambda values derived from the first stage are fed to a Multiobjective Mixed Integer Linear Programming model, which filters peers in the reference set based on weights assigned to the spatial and temporal dimension. The approach is demonstrated on a real-world example drawn from software development

Estimating Effectiveness of the Control of Violence and Socioeconomic Development in Colombia: An Application of Dynamic Data Envelopment Analysis and Data Panel Approach

This paper develops an index to evaluate the level of effectiveness of the control of violence based on the data envelopment analysis approach. The index is used to examine the grade of effectiveness of the control of violence at the level of Colombian departments between 1993 and 2007. Comparing the results across Colombian departments, we find that the majority of departments show improvement in their scores of effectiveness. A second stage of the regression model reveals that departments with a higher gross domestic product and higher education and employment are more effective in the control of violence, whereas departments with higher political violence, unemployment rates, unsatisfied basic needs, a displaced population, and hectares cultivated with coca show lower effectiveness in the control of violence. All these findings are of particular interest in the formulation and development of policies against violence, taking into account that organised forms of violence, such as drug trafficking, impede the adequate effectiveness of its control. Moreover, violence decreases social investments, generating alterations in social services that produce long-run deterioration in faith in the government’s ability to govern, which should become an incentive to further violence

Allocating the fixed cost:an approach based on data envelopment analysis and cooperative game

Allocating the fixed cost among a set of users in a fair way is an important issue both in management and economic research. Recently, Du et al. (Eur J Oper Res 235(1): 206–214, 2014) proposed a novel approach for allocating the fixed cost based on the game cross-efficiency method by taking the game relations among users in efficiency evaluation. This paper proves that the novel approach of Du et al. (Eur J Oper Res 235(1): 206–214, 2014) is equivalent to the efficiency maximization approach of Li et al. (Omega 41(1): 55–60, 2013), and may exist multiple optimal cost allocation plans. Taking into account the game relations in the allocation process, this paper proposes a cooperative game approach, and uses the nucleolus as a solution to the proposed cooperative game. The proposed approach in this paper is illustrated with a dataset from the prior literature and a real dataset of a steel and iron enterprise in China

Analysis of efficiency and profitability of franchise services

The present study analyses the relative efficiency of franchise services and characterises the best companies, confirming the relationship between efficiency and profit. These companies are from the trade and other services sector , the main group of service-providing companies in the Spanish economy. The methodology calls for first comparing the relative efficiency of franchisers and ownership enterprises. Second, the focus turns to the most efficient franchise services, using a super-efficiency model to rank them. The paper then goes on to cover the analysis of the main characteristics of the best franchise enterprises, the number of own establishments in a franchise business and the profitability of the company. This paper presents arguments as to why companies from the trade and other services sector are included. The main conclusion is that, whilst the number of establishments is irrelevant in achieving greater efficiency, many of the most efficient enterprises have high returns.García Martin, CJ.; Medal Bartual, A.; Peris-Ortiz, M. (2014). Analysis of efficiency and profitability of franchise services. Service Industries Journal. 34(9):796-810. doi:10.1080/02642069.2014.905921S79681034

OTIMIZAÇÃO DE PORTFÓLIOS: ANÁLISE DE EFICIÊNCIA

This article aims to analyze the behavior of a portfolio of assets selected by Data Envelopment Analysis (DEA), optimized by the Sharpe approach, and compare it to portfolios of assets obtained only by DEA or the Sharpe approach. To do that, we used the DEA model to assess the efficiency of shares of the São Paulo Stock Exchange (Bovespa), employing return, variance and other indicators such as input and output variables. Also, we used the Sharpe approach to optimize the portfolio composition. In the comparison of portfolios, we noted that the resulting combination of both models performed better than the portfolios optimized by only one of the models

Collaborative dynamic decision making: a case study from B2B supplier selection

The problem of supplier selection can be easily modeled as a multiple-criteria decision making (MCDM) problem: businesses express their preferences with respect to suppliers, which can then be ranked and selected. This approach has two major pitfalls: first, it does not consider a dynamic scenario, in which suppliers and their ratings are constantly changing; second, it only addressed the problem from the point of view of a single business, and cannot be easily applied when considering more than one business. To overcome these problems, we introduce a method for supplier selection that builds upon the dynamic MCDM framework of Campanella and Ribeiro [1] and, by means of a linear programming model, can be used in the case of multiple collaborating businesses plan- ning their next batch of orders together.Fundação para a Ciência e a Tecnologia, Portugal, under contract CONT DOUT/49/UNINOVA/0/5902/1/200