Essays about: "closed-end fund s"

Found 4 essays containing the words closed-end fund s.

  1. 1. Closed-End Funds and their Net Asset Value over time : A study of the relationship between Swedish closed-end funds' market prices and their underlying assets over a period of time.

    University essay from Jönköping University/IHH, Nationalekonomi

    Author : Erik Cederberg; Linus Schnitzer; [2020]
    Keywords : Closed-end fund; Net Asset Value; Mean Reversion; Closed-end fund discount; Stock market; Investment strategy; Cointegration; Error Correction;

    Abstract : Closed-end funds (CEFs) are popular investments amongst the Swedish population as they provide diversification to investors and have in many cases historically outperformed the market. In deciding whether to invest in a CEF, the method of valuation differs from classical financial ratios used to value most companies, as the revenue-bringing operations differ significantly. READ MORE

  3. 2. Explaining the NAV Discount in REIT pricing - Evidence from the U.S.

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Jerry Aaltonen; Bowen Li; [2019]
    Keywords : REITs; Dynamic relationship; NAV discount; Closed-end fund puzzle; United States;

    Abstract : This paper investigates the relationship between stock price and net asset value (NAV) for 71 real estate investment trusts (REITs) in the U.S. between Q1/1998 and Q4/2018. More specifically, by testing for cointegration, we look for evidence of a long-term equilibrium between stock price and NAV. READ MORE

  4. 3. Investment Companies’ Discount Fluctuation on the Swedish Market : A statistical analysis regarding different micro-   and macroeconomic factors influence on Swedish closed-end funds’ discount

    University essay from IHH, Economics, Finance and Statistics

    Author : Ronnie Cau Nicklasson; Simon Hansson; [2013]
    Keywords : Swedish; closed-end fund s ; investment companies; discount; fluctuation; time-invariant characteristics; seasonal effects; CEF; fixed- and random effect model; Hausman test; OLS regression;

    Abstract : Closed-end funds’ (CEF) discount and discount fluctuations have been puzzling researchers for decades. Up to date, there are no multidimensional or cross-sectional variables that have been proved to influence CEFs simultaneously. READ MORE

  5. 4. Abnormal Returns in Closed-End Funds: A study on Industrivärden

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Mandus Håkansson; Oscar Skog; [2010]
    Keywords : closed-end fund puzzle; abnormal returns; behavioral finance; discount; investor groups;

    Abstract : With a starting point in previous research on the Closed-End Fund Puzzle we look at data on Industrivärden’s portfolio and stock from 1996 to 2009. We find that an investment in Industrivärden has produced annualized excess returns of 3.31 percent above the returns of its holdings for the period 1996 to 2009. READ MORE