International Investment Restrictions and Closed-End Country Fund Prices
Опубликовано на портале: 11-10-2004
Journal of Finance.
1990.
Vol. 45.
No. 2.
P. 523-547.
Тематический раздел:
Some closed-end country funds trade at large premiums relative to their net asset
values. This paper examines whether international investment restrictions raise country
fund price-net asset value ratios by segmenting international capital markets. We
test whether a relation exists between announcements of changes in investment restrictions
and changes in these ratios using weekly data from May 1981 to January 1989. The
results provide evidence that some foreign markets are at least partially segmented
from the U.S. capital market.
Статья рекомендуется в учебной программе International Finance (Bailey W.B)
Ключевые слова
asset valuation capital market closed-end funds investors инвестиционная компания закрытого типа инвестор рынок ценных бумаг
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