Studies of performance persistence of closed-end funds (CEFs) use two measures of persistence; autocorrelation and rank correlation of performance. The autocorrelation measure offers limited information because it cannot separate persistence relative to the market and to the industry. The rank correlation...
of the pricing of these funds, we also find that share price returns exhibit no performance persistence. On the contrary, there is weak evidence of price reversal, which we attribute to mean-reversion in the discount. Second, whereas Gruber (1996) suggests that closed-end fund prices might in...
open-end fundsopenThis study investigates the motives for open-ending closed-end funds, and performance of closed-end funds following open-ending announcements. We find that theAkhigbe, AigbeMadura, JeffTucker, Alan L.Social Science Electronic Publishing...
In the closed-end fund market, as for open-end funds, there is little evidence of performance persistence, and therefore, to the extent that funds with good past performance are pushed to higher premiums, the expected return on them is less than on the average fund. This implicit pricing ...
I use a sample of closed-end funds to examine how takeover defenses impact shareholder value and promote managerial entrenchment. These funds use the same ... ME Souther - 《Journal of Financial Economics》 被引量: 4发表: 2016年 What Determines the Discount of Closed-End Funds in the China...
Hot hands in mutual funds: Short-run persistence of relative performance, 1974–1988 Journal of Finance (1993) J.M. Laderman Investor, keep out Business Week (1993) There are more references available in the full text version of this article. Cited by (6) Leaving the (fund) gate ajar: ...
17.The Empirical Study of the Performance Estimation on the Closed-funds of China;中国证券投资基金业绩评价实证研究 18.Research on Performance Estimation System of Stock Open-end Fund;股票型开放式基金业绩评价体系研究 相关短句/例句 performance of fund基金业绩 1.It is important to find a kind of ...
Wu, and J. Zechner, 2005, Portfolio performance, discount dynamics, and the turnover of closed-end fund managers, Working paper, University of Maryland.Russ Wermers, Youchang Wu, Josef Zechner. Portfolio Performance, Discount Dynamics, and the Turnover of Closed-End Fund Managers [ R ]. ...
While similar in their trading and organization, closed-end funds (CEFs) and exchange-traded funds (ETFs) differ in their liquidity and ease of arbitrage. ... JC Hughen,PG Mathew - 《International Review of Financial Analysis》 被引量: 32发表: 2009年 Why Does Performance Persistence Vary Amon...
N FUND PERFORMANCE. CLOSED END LOAN PARTICIPATION FUND PERFORMANCE.CLOSED END LOAN PARTICIPATION FUND PERFORMANCE.A chart is presented that lists performance of several funds including ING Prime Rate Trust, Nuveen Float Rate Inc. and Eaton Vance Senior Inc....