[01] Manfred Rii Zamuee, The Research Department, Maastricht School of Management, Maastricht, Netherlands.

This paper seeks to synthesize the results of the two previous papers, which tests and explain the efficiency of Namibian pension funds using Data envelopment Analysis (DEA) and Structural Equations Modeling (SEM) as a confirmatory process. The methodological approach taken is to assess the association between financial efficiency (as measured by DEA) and organizational efficiency (measured by SEM). Therefore, the paper outcome provides evidence-based knowledge and a synthesized analytical framework based on results of correlation and One-way analysis of variance (ANOVA) between the variables. The empirical findings indicate that no significant association exists between financial efficiency and organizational efficiency of Namibian pension funds. The study has fully conceptualized the theory on pension fund efficiency and has answered the empirical inquiry into the significance of the relationship between financial and organizational efficiency of pension funds using acceptable methodological and analytical approaches.

Structural Equation Modeling, Confirmatory Factor Analysis, Data Envelopment Analysis, One-way Analysis of Variance, Financial Efficiency, Organizational Efficiency

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