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Open-end organizational structures and limits to arbitrage

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Open-end Organizational Structures and Limits to Arbitrage

Giannetti, Mariassunta - 2017

We provide evidence that open-end structures undermine asset managers' incentives to attack long-term mispricing. First, we compare open-end funds with closed-end funds. Closed-end funds purchase more underpriced stocks than open-end funds, especially if the stocks involve high arbitrage risk....

Persistent link: https://www.econbiz.de/10012973307