Behavioural and fundamental explanations of discounts on closed end funds: an empirical analysis

• Autores: George Emm. Halkos, Theodore N. Krintas
• Localización: Applied financial economics, ISSN 0960-3107, Vol. 16, Nº. 5, 2006, págs. 395-404
• Idioma: inglés
• DOI: 10.1080/09603100500400312
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• Resumen

  • This study extracts two factors related to the variability of Premium/Discount: a behavioural and a fundmental. Evidence is provided to show that by using both factos one can achieve a better understanding of discounts as theories and the Closed End Funds Puzzle support it.