Dragota, Victor; Caruntu, Mihai; Stoian, Andreea - In: Theoretical and Applied Economics 10(527) (2008) 10(527), pp. 53-60
This paper analyzes the closed-end fund puzzle for an emerging capital market, respectively the Romanian one. Comparatively to more developed markets, as long as small markets are often very illiquid, it has to be used some specific valuation techniques in order to estimate the market values for...