An Analysis of Closed-end Fund Puzzle for Emerging Capital Markets
AbstractThis paper analyzes the closed-end fund puzzle for an emerging capital market, respectively the Romanian one. Comparatively to more developed markets, as long as small markets are often very illiquid, it has to be used some specific valuation techniques in order to estimate the market values for closed-end funds. Also, one problem is this estimation can be made only in some (punctual) moments.
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Bibliographic InfoArticle provided by Asociatia Generala a Economistilor din Romania - AGER in its journal Theoretical and Applied Economics.
Volume (Year): 10(527) (2008)
Issue (Month): 10(527) (October)
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closed-end funds; market efficiency; emergent capital markets; Romania.;
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