search query: @author Lee, I. / total: 12
reference: 6 / 12
| Author: | Choi, J. Lee, I. |
| Title: | Market segmentation and the valuation of closed-end country funds: an empirical analysis |
| Journal: | Review of Quantitative Finance and Accounting
1996 : VOL. 7:1, p. 45-64 |
| Index terms: | INTERNATIONAL MARKET SEGMENTATION EXCHANGE RATES |
| Language: | eng |
| Abstract: | This article examines the role of market segmentation on the valuation of the US stock exchange-listed closed-end country funds and analyzes the determinants of net fund premia in a multivariate context. It is shown that fund returns are generally sensitive to both national and US market factors, but only national factors are priced. Cross-section and time series estimation of net fund premia indicates the importance of market segmentation as a determinant of net fund premia, claim the authors of the article. |
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