Ayadi, Mohamed; Ben-Ameur, Hatem; Lazrak, Skander; Wang, Yue - In: Journal of Financial Services Research 43 (2013) 1, pp. 69-98
We explore the role of the discount on closed-end funds (CEFD) in asset pricing and test its validity as a proxy for investor sentiment in the Canadian stock market. Results show that CEFD is not a priced factor. Both cross-sectional and time-series tests confirm that stocks with different...
