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我国封闭式基金之谜的实证分析 被引量:5

Empirical Study of the Puzzle of Chinese Closed Fund
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摘要 文章通过对我国现有的54只封闭式基金的实证分析,证明了中国的封闭式基金之谜能够从"流动性效应"和"投资者情绪理论"得到解释,并提出相应建议以供监管者、基金管理人和投资者参考。 Through their empirical studies of the 54 investment funds in China, the paper proves that the puzzle of closed fund in China can be explained with 'liquidity effect' and 'investors' sentiment theory'. Some suggestions are raised for supervisors and regulators and investors as reference.
作者 何小锋 程勇
出处 《山西财经学院学报》 北大核心 2004年第6期7-14,共8页
关键词 封闭式基金 实证分析 中国 监管者 流动性效应 投资者情绪 基金管理人 证明 中国 参考 closed investment fund behavioral finance liquidity effect investors' sentiment
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参考文献8

  • 1刘煜辉,熊鹏.资产流动性、投资者情绪与中国封闭式基金之谜[J].管理世界,2004,20(3):48-57. 被引量:36
  • 2沈维涛,黄兴孪.我国证券投资基金业绩的实证研究与评价[J].经济研究,2001,36(9):22-30. 被引量:258
  • 3安德瑞·史莱佛.并非有效的市场[M].中国民大学出版社,2003..
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二级参考文献20

  • 1威廉·F·夏普 赵锡军等(译).投资学(第五版)[M].中国人民大学出版社,1998..
  • 2熊鹏 霍菲.《小的,赚钱的》,Forthcoming in New Fortune,Working Paper[J].《新财富》,色诺芬公司,.
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  • 6Draper, Paul, 1989, The Investment Trust Industry in the UK: An Empirical Analysis, Gower Press.
  • 7Grullon, Gustavo, and Albert Wang, 2001 ,"Closed- End Fund Discounts with Informed Ownership Differential", Journal of Financial Intermediation 10, 171-205.
  • 8Lee, Charles, Andrei Shleifer, and Richard Thaler,1990, "Anomalies: Closed - End Mutual Funds", Journal of Economic Perspectives 4, 153-164.
  • 9Lee, Charles, Andrei Shleifer, and Richard Thaler, 1991,"Investor Sentiment and the Closed- End Fund Puzzle", Journal of Finance, Vol. 46, pp. 75- 109.
  • 10Peavy, John, 1990, "Returns on Initial Public Offerings of Closed -End Funds", Review of Financial Studies 3, 695-708.

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