Behavioural and fundamental explanations of discounts on closed end funds: an empirical analysis

George Halkos and Theodore Krintas

Applied Financial Economics, 2006, vol. 16, issue 5, 395-404

Abstract: This study extracts two factors related to the variability of Premium/Discount: a behavioural and a fundamental. Evidence is provided to show that by using both factors one can achieve a better understanding of discounts as theories and the Closed End Funds Puzzle support it.

Date: 2006
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DOI: 10.1080/09603100500400312

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