THE DISCOUNT PARADOX INVERTED: THE SWISS CASE

Steffen Sebastian ()

ERES from European Real Estate Society (ERES)

Abstract: In this paper we examine empirically the closed-end fund puzzle for stock quoted Swiss real estate mutual funds in 1970-2003. For this period shares of those mutual funds are predominately quoted with a premium to the net asset value. Using a panel approach we examine whether both the rational and the sentiment approach can help explaining the premium paradoxon. Full paper available at www.real-estate-finance.de (in German).

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2006-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2006_300

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