Technical Efficiency and Heterogeneity of Argentina Pension Funds

Abstract

This paper examines the technical efficiency of Argentinean pension funds management companies using a random stochastic frontier model to rank the pension funds management companies, taking into account heterogeneity in the data. The empirical findings reveal that efficiency measures have a significant effect on pension funds efficiency. The implications for managers and policy makers are discussed.Argentina; pension funds; efficiency; stochastic frontier models.