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.