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A rational model of the closed-end fund discount

Berk, Jonathan B.; Stanton, Richard - 2004

Persistent link: https://www.econbiz.de/10002019222

A Rational Model of the Closed-End Fund Discount

Berk, Jonathan - 2004

The discount on closed-end funds is widely accepted as proof of investor irrationality. We show,however, that a parsimonious rational model can generate a discount that exhibits many of the characteristics observed in practice. The only required features of the model are that managers have...

Persistent link: https://www.econbiz.de/10012468281

Closed-End Fund Discounts and Irrational Investors

Rebei, Adnan - 2014

. According to the present sentiment theory, noisy traders, which are usually small investors, are the reason behind CEF discounts …. To test this discount theory, a closer study of the CEF funds and their correlations to various market indicators is … investment even if they are traded at a premium and our results show that the sentiment theory cannot explain the origin of the …

Persistent link: https://www.econbiz.de/10013053285

A rational theory of mutual funds' attention allocation

Kacperczyk, Marcin; Nieuwerburgh, Stijn van; Veldkamp, Laura - In: Econometrica : journal of the Econometric Society, an … 84 (2016) 2, pp. 571-626

Persistent link: https://www.econbiz.de/10011552541

Risk management, rational herding and institutional investors: a macro view

Lütje, Torben; Menkhoff, Lukas - In: Risk management : challenge and opportunity ; with 125 …, (pp. 785-799). 2005

Persistent link: https://www.econbiz.de/10002449580

Risk management, rational herding and institutional investors : a macro view

Lütje, Torben (contributor); Menkhoff, Lukas (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001792971

A Rational Theory of Mutual Funds' Attention Allocation

Kacperczyk, Marcin T. - 2015

The question of whether and how mutual fund managers provide valuable services for their clients motivates one of the largest literatures in finance. One candidate explanation is that funds process information about future asset values and use that information to invest in high-valued assets....

Persistent link: https://www.econbiz.de/10013035446

Is target-date mutual fund underperformance rational?

Johnson, William F.; Kanuri, Srinidhi - In: The journal of investing 27 (2018) 1, pp. 87-97

Persistent link: https://www.econbiz.de/10011937537

Rational Investing : The Subtleties of Asset Management

Langlois, Hugues; Lussier, Jacques - 2017

Many investors believe that success in investing is either luck or clairvoyance. In Rational Investing, finance professor Hugues Langlois and asset manager Jacques Lussier present the current state of asset management and clarify the conundrum of luck versus skill. The core of Rational Investing...

Persistent link: https://www.econbiz.de/10014481843

Exchange-traded fund introductions and losed-end fund discounts and volume

Barnhart, Scott W.; Rosenstein, Stuart - In: The financial review : the official publication of the … 45 (2010) 4, pp. 973-994

Persistent link: https://www.econbiz.de/10008699935

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