haku: @journal_id 789 / yhteensä: 95
viite: 27 / 95
| Tekijä: | Grullon, G. Wang, F.A. |
| Otsikko: | Closed-end fund discounts with informed ownership differential |
| Lehti: | Journal of Financial Intermediation
2001 : APR, VOL. 10:2, p. 171-205 |
| Asiasana: | ASSETS INFORMATION |
| Vapaa asiasana: | CLOSED-END FUND DISCOUNTS |
| Kieli: | eng |
| Tiivistelmä: | The authors develop a multiasset trading model to examine the closed-end fund discount. The model shows that the discount can arise if the quality of private information in the under-lying assets is sufficiently better than in the fund. The model also indicates that a discount (premium) can arise if the excessive volatility of the fund dominates (is dominated by) the fund's diversification benefit. |
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