scholarly journals Performance of Unit Trust Funds between Conventional and Islamic Funds in Malaysia using Data Envelopment Analysis

2021 ◽  
Vol 6 (3) ◽  
pp. 53-64
Author(s):  
Nahamizun Maamor ◽  
Anas Fathul Ariffin ◽  
Teoh Yeong Kin ◽  
Suzanawati Abu Hasan
Keyword(s):  
Data Envelopment Analysis ◽  
Data Envelopment ◽  
Model Function ◽  
Trust Funds ◽  
Equity Funds ◽  
Asset Classes ◽  
Using Data ◽  
Unit Trust ◽  
Ranking Analysis ◽  
Better Than

This study aims to analyse the current performance of unit trust funds between conventional and Islamic funds using data envelopment analysis because most Malaysians are incapable to distinguish between conventional and Islamic unit trust funds performances since they tend to assume both funds perform similarly. This paper uses 20 authorised funds by the Securities Commission Malaysia (SC) for three years by using trailing data that consists of volatility element as input and total return as output. Indeed, the funds selected do not mix asset classes of funds, instead relying solely on equity funds to create a fair and reasonable ranking. The study employs Data Envelopment Analysis by testing two different models, namely Charnes, Cooper, and Rhodes input oriented (CCR-I) model and Banker, Charnes, and Cooper input oriented (BCC-I) model. The use of two models in this study is to ensure that the results of the ranking analysis are more accurate and precise. Both models employ the input-oriented model function as a means of maximising efficiency in order to increase the number of fairies. The efficiency of Islamic funds is more consistent than that of conventional funds for both models, as several Islamic funds maintain their position at the top of the efficient rank. However, there is a significant increase in conventional funds because 80% of the selected conventional funds that are not efficient in the CCR-I model achieve the efficiency level in the BCC-I model. As a result, there are four unit trust funds that are consistent in occupying efficiency level when tested for both CCR-I model and BCC-I model whereby three out of four are Islamic funds while the other is conventional fund. The Islamic funds consist of Apex Dana Aslah, BIMB i Growth Fund, and Maybank Malaysia Growth-I Fund while KAF Tactical Fund is conventional fund. Ultimately, it is concluded that Islamic funds perform better than conventional funds in Malaysia for the 3 years period ending 31 March 2021.

scholarly journals Performance of unit trust funds in Malaysia : a comparison between conventional and Islamic unit trusts

2014 ◽  
Vol 11 (1) ◽  
pp. 31
Author(s):  
Rosma Mohd Dom ◽  
Muhammad Fandi Ibrahim ◽  
Che Lynnaruhiyah Che Sulaiman ◽  
Ahmad Shafiq Ahmad Sholahuddin
Keyword(s):  
Poor Performance ◽  
Least Square ◽  
Weighted Sum ◽  
Trust Funds ◽  
The World ◽  
Finance House ◽  
Using Data ◽  
Unit Trust ◽  
Conventional Unit ◽  
Better Than

This paper reports the comparison of performance between Islamic and conventional unit trust funds in Malaysia. Least Square Methods were used to describe the overall growth of Malaysian unit trusts for the years 2004 to 2012 based on the number of launched funds, units in circulation, number of accounts and total net asset value. The results indicated that conventional unit trust funds grew exponentially while Islamic unit trusts grew linearly. The performances of 4 Islamic and 4 conventional unit trust funds based on their efficiencies (ratio of weighted sum of outputs to weighted sum of inputs) were measured using Data Envelopment Analysis over a three-year period (2010- 2012). The performances were measured based on two inputs namely the Portfolio Turnover Ratio (PTR) and Management Expense Ratio (MER) while the output was the companies’ annual returns. The outcome is the ranking of unit trusts performance which can be a good reference for investors. The finding shows that conventional unit trusts were the preferred investment among Malaysians. However, the growth of Islamic unit trusts was less affected by the world economic crisis compared to the growth of conventional unit trusts. This is reflected in the decrease of growth of the conventional unit trusts during the years 2007-2008, the time when the world economy was hit hard. On the contrary, the Islamic unit trust showed a gradually increasing growth during the same time period. CIMB conventional is found to be the best unit trust among the conventional unit trusts studied while Kuwait Finance House is found to be the best Islamic unit trust in this study, second only to CIMB conventional. Public Bank unit trust performed consistently on the average while AmBank showed poor performance throughout the years. CIMB conventional performed better than CIMB Islamic but RHB Islamic and AmBank Islamic performed better than their conventional counterparts.

scholarly journals Pengukuran Efisiensi Organisasi Pengelola Zakat Dengan Metode Data Envelopment Analysis

2019 ◽  
Vol 4 (1) ◽  
pp. 25-44
Author(s):  
Aulia Zahra ◽  
Prayogo P. Harto ◽  
Ahmad Bisyri ASH
Keyword(s):  
Data Envelopment Analysis ◽  
Parametric Method ◽  
Data Envelopment ◽  
Personnel Costs ◽  
Management Organization ◽  
Input Variables ◽  
Using Data ◽  
The Cost ◽  
Better Than ◽  
Production Approach

This study aims to determine the level of efficiency of Zakat Management Organization period 2012-2014 using Data Envelopment Analysis (DEA) method with the production approach. Data Envelopment Analysis (DEA) is a non-parametric method used to measure the efficiency level of Decision Making Units (DMU). This method measures the ratio between output and input which are compared between the studied Zakat Management Organization. Output variables used are fund collected and channeled fund. While input variables used are personnel costs, socialization costs, and other operational costs. The results of this study show that the efficiency of Zakat Management Organization in the year 2013 is still better than in 2012 and 2014, both technically (93,50%), scale (73,28%), and overall (70,54%). Calculation of 7 Zakat Management Organization in 2013 with the assumption of Constant Return to Scale (CRS), shows only 3 Zakat Management Organization efficient, that is YBM BRI, BSM Ummat, and BAMUIS BNI. The main cause of inefficiency from the output oriented measures is channeled fund and fund collected, which is equal 49,23% and 48,13%. While the input oriented measures states that the source of inefficiency is the personnel costs (33,42%), the socialization costs (33,72%), and the cost of other operational (32,29%).

scholarly journals Evaluating Greek Equity Funds Using Data Envelopment Analysis

2009 ◽  
Author(s):  
Vassilios Babalos ◽  
Guglielmo Maria Caporale ◽  
Nikolaos Philippas
Keyword(s):  
Data Envelopment Analysis ◽  
Data Envelopment ◽  
Equity Funds ◽  
Using Data

Strategic resource management model and data envelopment analysis for benchmarking of Indian retailers

2016 ◽  
Vol 23 (2) ◽  
pp. 286-312 ◽  
Author(s):  
Aradhana Gandhi ◽  
Ravi Shankar
Keyword(s):  
Data Envelopment Analysis ◽  
Resource Management ◽  
Data Envelopment ◽  
Planning Tool ◽  
Content Type ◽  
Dea Model ◽  
Strategic Resource ◽  
Using Data ◽  
Practical Implications ◽  
Better Than

Purpose – The purpose of this paper is to use strategic resource management (SRM) model and data envelopment analysis (DEA) for benchmarking Indian retailers. The study ascertains, how a retailer can benchmark its performance at company level, global level, store level and finally at merchandise category level using diverse strategies for inventory, space and people. Design/methodology/approach – The paper aims to use SRM model, for evaluating and comparing the performance of two generalized retailers Shoppers Stop and Trent. These two generalized retailers are benchmarked with another best-in-class retailer, Wal-Mart using the SRM model. The benchmarking exercise brings out improvement directions for the Indian retailers. In the next part of the study, economic efficiencies of 11 generalized retailers are ascertained using DEA model. Finally, a study is conducted to understand, how SRM model can be used as a planning tool for deciding alternative inventory, space and people strategies at store level as well as at merchandise category level. Findings – Based on the data for the year 2011-2012, Trent’s performance is comparatively better than Shoppers Stop. The paper offers suggestion to improve its performance. Next, it was found that the performance of Wal-Mart is superior to the two Indian retailers. The study offers direction to the two retailers to devise appropriate strategies to improve their performance. The study further ascertains the relative efficiencies of 11 generalized retailers in the country. Finally, an illustration of how a retailer can use the SRM model as a tool for planning alternative strategy for inventory, space and people in a particular merchandise category is offered using data from a retail firm. The study has used “Jeans” and “Toys” as two categories to demonstrate this concept. Practical implications – The examples considered in this paper can be used by practicing retailers to plan and benchmark their performance. Originality/value – The study proposes a method, by which retailers can examine ways to plan and improve their operations and profitability by using the SRM and DEA model. The study is therefore relevant to practicing retailers as well as academicians.

Data Envelopment Analysis (DEA) in the Psychological Sciences

2019 ◽  
Author(s):  
Jeffrey A. Shero ◽  
Sara Ann Hart
Keyword(s):  
Data Envelopment Analysis ◽  
Aggressive Behavior ◽  
Personality Traits ◽  
Educational Administration ◽  
Latent Variable ◽  
Organizational Management ◽  
Data Envelopment ◽  
Targeted Interventions ◽  
Component Skills ◽  
Using Data

Using methods like linear regression or latent variable models, researchers are often interested in maximizing explained variance and identifying the importance of specific variables within their models. These models are useful for understanding general ideas and trends, but often give limited insight into the individuals within said models. Data envelopment analysis (DEA), is a method with roots in organizational management that make such insights possible. Unlike models mentioned above, DEA does not explain variance. Instead, it explains how efficiently an individual utilizes their inputs to produce outputs, and identifies which input is not being utilized optimally. This paper provides readers with a brief history and past usages of DEA from organizational management, public health, and educational administration fields, while also describing the underlying math and processes behind said model. This paper then extends the usage of this method into the psychology field using two separate studies. First, using data from the Project KIDS dataset, DEA is demonstrated using a simple view of reading framework identifying individual efficiency levels in using reading-based skills to achieve reading comprehension, determining which skills are being underutilized, and classifying and comparing new subsets of readers. Three new subsets of readers were identified using this method, with direct implications leading to more targeted interventions. Second, DEA was used to measure individuals’ efficiency in regulating aggressive behavior given specific personality traits or related skills. This study found that despite comparable levels of component skills and personality traits, significant differences were found in efficiency to regulate aggressive behavior on the basis of gender and feelings of provocation.

scholarly journals Performance Evaluation of Fishery Enterprises Using Data Envelopment Analysis—A Malmquist Model

Mathematics ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 469
Author(s):  
Chia-Nan Wang ◽  
Thi-Ly Nguyen ◽  
Thanh-Tuan Dang ◽  
Thi-Hong Bui
Keyword(s):  
Performance Evaluation ◽  
Data Envelopment Analysis ◽  
Technological Progress ◽  
Data Envelopment ◽  
Domestic Economy ◽  
Factor Productivity ◽  
Sales Revenue ◽  
Business Efficiency ◽  
Using Data ◽  
Decision Making Units

In Vietnam, fishing is a crucial source of nutrition and employment, which not only affects the development of the domestic economy but is also closely related to exports, heavily influencing the economy and foreign exchange. However, the Vietnamese fishery sector has been facing many challenges in innovating production technology, improving product quality, and expanding markets. Hence, the fishery enterprises need to find solutions to increase labor productivity and enhance competitiveness while minimizing difficulties. This study implemented a performance evaluation from 2015 to 2018 of 17 fishery businesses, in decision making units (DMUs), in Vietnam by applying data envelopment analysis, namely the Malmquist model. The objective of the paper is to provide a general overview of the fishery sector in Vietnam through technical efficiency, technological progress, and the total factor productivity in the four-year period. The variables used in the model include total assets, equity, total liabilities, cost of sales, revenue, and profit. The results of the paper show that Investment Commerce Fisheries Corporation (DMU10) and Hoang Long Group (DMU8) exhibited the best performances. This paper offers a valuable reference to improve the business efficiency of Vietnamese fishery enterprises and could be a useful reference for related industries.

Sign in / Sign up

Export Citation Format

Share Document