Closed-end Funds: A Survey (Paperback) (ISBN-13: 9783639360431)

Closed-end funds do certainly own a very unique characteristic in the world of finance. They are always negotiate in a different price than their net asset value. Most of the times in a discount. this study is making an attempt to illustrate and finally explain this characteristic. for this purpose we incorporate both the existing literature and an empirical research. most of the evidence points toward to the investors' sentiment as a cause of the discount while from the empirical research we conclude that market price and net asset value of a fund do not share a long run equilibrium relationship. Moreover we incorporate the very promising method of cointegration for the empirical research. This strange fact has indeed much interest and seems to appeal a lot at the academic world.

Author: Konstantinos Sfakianakis
ISBN-10: 3639360435
ISBN-13: 9783639360431
Publisher: VDM Verlag
Language: English
Published: 05/27/2011
Pages: 72
Format: Paperback
Weight: 0.26lbs
Size: 9.00h x 6.00w x 0.17d