The purpose of this study is to extend the research on mutual fund performance persistence to closed-end funds. Because closed-end funds trade at market prices different from net asset value (NAV) they are used to test both the performance persistence of their NAV and market price returns. While...

This study extends the research on closed-end fund performance persistence by investigating whether the persistence of both net asset value (NAV) and market price returns of U.S. registered closed-end funds is related to various fund characteristics. The sample consists of 505 closed-end funds,...

In this article, we assess the stock price performance of 184 firms emerging from Chapter 11 bankruptcy between 1980 and 2006. We find their mean post-bankruptcy performance to be similar to the performance of their size and-book-to-market control firms, as well as to the performance of their...