Theoretical and Applied Economics
No. 10 / 2008 (527)
An Analysis of Closed-end Fund Puzzle for Emerging Capital Markets
Victor Dragota
Academy of Economic Studies, Bucharest
Mihai Caruntu
Romanian Commercial Bank
Andreea Stoian
Academy of Economic Studies, Bucharest
Academy of Economic Studies, Bucharest
Mihai Caruntu
Romanian Commercial Bank
Andreea Stoian
Academy of Economic Studies, Bucharest
Abstract. This paper analyzes the closed-end fund puzzle for an emerging capital market, respectively the Romanian one. Comparatively to more developed markets, as long as small markets are often very illiquid, it has to be used some specific valuation techniques in order to estimate the market values for closed-end funds. Also, one problem is this estimation can be made only in some (punctual) moments.
Keywords: closed-end funds; market efficiency; emergent capital markets; Romania.
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Contents
Marin Dinu
- Corporate Rating. Multidimensional Perspective in the Context of the Differentiation in Terms of Localization Criteria. Empirical Perspective on Developed versus Emerging Countries
Cristina Maria Triandafil
Petre Brezeanu
Leonardo Badea
- Optimality, Rational Expectations and Time Inconsistency Applied to Inflation Targeting Strategy
Marius-Corneliu Marinas
Marius Andrei Zoican
- Optimizing the Banking Activity Using Assets & Liabilities Management
Vasile Dedu
Marian Vasilache
- The Dimensions of Organizational Intelligence in Romanian Companies – A Human Capital Perspective
Viorel Lefter
Mihaela Prejmerean
Simona Vasilache
- An Analysis of Closed-end Fund Puzzle for Emerging Capital Markets
Victor Dragota
Mihai Caruntu
Andreea Stoian
- The Influence of the Conjunctural Factors Toward the Reengineering of Organization
Gheorghe Basanu
Florin Ionita
Daniel Savin
- Current Approaches to the Establishment of Credit Risk Specific Provisions
Ion Nitu
Alin Eduard Nitu
Eliza Paicu
- Mobil Digital Management for SME’s
Stefan Brad
