A Rational Model of the Closed-End Fund Discount
收藏NBER2004-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10412
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资源简介：
The discount on closed-end funds is widely accepted as proof of investor irrationality. We show,however, that a parsimonious rational model can generate a discount that exhibits many of the characteristics observed in practice. The only required features of the model are that managers have
提供机构：
美国国家经济研究局
创建时间：
2004-04-01
