Liquidity, Sentiment and Segmentation: A Survey of Closed-End Fund Literature

Mary Fletcher ()
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Mary Fletcher: University of Strathclyde, Glasgow

Journal of Accounting and Management Information Systems, 2013, vol. 12, issue 4, 510-536

Abstract: Closed-end funds have been a topic of lively debate for several decades. In this paper I focus on studies relating to liquidity, sentiment and segmentation and, in particular, on studies that investigate closed-end country funds. I extend the previous survey by Dimson & Minio-Kozerski (1999) by adding in more recent contributions to the closed-end fund debate; and by including more of a discussion of sentiment, segmentation and country funds I complement the recent survey by Cherkes (2012). In addition I provide summaries of over 40 key papers in these areas, listing the sample and sample period, the theory examined and the findings of each paper.

Keywords: Closed-end Fund; Closed-end Country Fund; Investment Trust; International Finance; International Financial Markets; Liberalization (search for similar items in EconPapers)
JEL-codes: F3 G12 G15 G23 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ami:journl:v:12:y:2013:i:4:p:510-536

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