This paper attempts to make a contribution to the understanding of the factors that determine premiums/discounts of closed-end bond funds. Much research has been conducted to explain closed-end equity fund premiums/discounts. Very little evidence, however, has been developed to explain why...

Many portfolio managers on Wall Street believe that investing in cancelled targets after the termination of mergers and acquisitions is a profitable strategy because arbitrageurs usually unwind their position after the cancellation announcement. While the anecdotal evidence shows that...

Purpose – The paper seeks to show that marketing and psychology literature can shed light on why investors exhibit preferences for certain price ends. The perspective adopted is that the stock market is a marketplace in which investors, as consumers, buy and sell (i.e. exchange) financial...