IDEAS home Printed from
   My bibliography  Save this article

Romanian Closed-End Funds – An Overview



    () (Faculty of Business, Babes-Bolyai University, Cluj-Napoca, Romania)


    () (Financial Analyst, New York)


    () (Doctoral Fellow, Food and Resource Economics Department, Institute of Food and Agricultural Sciences, University of Florida)


Closed-end funds are less known compared to open-end funds to most of investors. Due to their classical discounts, their behavior on the stock markets is less understood by the individual investors. These two statements are true on the mature capital markets, but on the Romanian emerging capital market, the closed-end funds were and still are the individual investors’ darlings. The closed-end funds’ position on the Romanian capital market can be – mildly – viewed as peculiar. The present paper would try to answer several questions like: Why are the Romanian closed-end funds more popular than the open-end funds? Which was the closed-end funds’ contribution to the development of the Bucharest Stock Exchange? How did the structure of the Romanian closed-end funds’ portfolios evolved/ changed over time? How did the prices and premiums of the Romanian closed-end funds behave since their listing date at Bucharest Stock Exchange?

Suggested Citation

  • Cornelia Pop & Adina Calugaru & Mihaela Marcu, 2005. "Romanian Closed-End Funds – An Overview," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
  • Handle: RePEc:bbn:journl:2005_2_9_pop

    Download full text from publisher

    File URL:
    File Function: Revised version, 2005
    Download Restriction: no

    References listed on IDEAS

    1. Michael Bleaney & R. Todd Smith, "undated". "Closed-End Fund Betas," Discussion Papers 06/04, University of Nottingham, School of Economics.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Closed-end funds; Romania;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bbn:journl:2005_2_9_pop. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cornelia Pop). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.