Anderson, Seth; Beard, T. Randolph; Kim, Hyeongwoo; … - Department of Economics, Auburn University - 2012
Closed end fund (CEF) discounts have intrigued researchers for decades. Of the many explanations offered, the behavioural framework of Lee et al. (1991), which posits noise traders subject to sentiment, is the most discussed. In this article, we contribute some novel evidence to the evaluation...