Sökning: "Closed-end fund puzzle"

Visar resultat 1 - 5 av 8 uppsatser innehållade orden Closed-end fund puzzle.

  1. 1. Listed Property Company Valuation

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Marcus Runström; Ludvig Eksandh; [2022]
    Nyckelord :Listed Swedish property companies; Closed-end fund puzzle; Noise trader model; NAV premium and discount; Property company valuation;

    Sammanfattning : Among stock market participants, the existence and persistence of deviations between a property company's market capitalization and Net Asset Value are well-recognized. This deviation has a clear link to the premiums and discounts to NAV of closed-end funds, which is referred to as the closed-end fund puzzle in financial economics. LÄS MER

  3. 2. Explaining the NAV Discount in REIT pricing - Evidence from the U.S.

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Jerry Aaltonen; Bowen Li; [2019]
    Nyckelord :REITs; Dynamic relationship; NAV discount; Closed-end fund puzzle; United States;

    Sammanfattning : This paper investigates the relationship between stock price and net asset value (NAV) for 71 real estate investment trusts (REITs) in the U.S. between Q1/1998 and Q4/2018. More specifically, by testing for cointegration, we look for evidence of a long-term equilibrium between stock price and NAV. LÄS MER

  4. 3. The Closed-End Investment Company NAV Deviation Puzzle: What does the Industry Reveal?

    C-uppsats, Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Författare :Max Odqvist; Jesper Warén; [2017]
    Nyckelord :NAV; NAV Deviations; Investment Company; Closed-End Fund;

    Sammanfattning : This study of net asset value deviations ("NAV deviations") is conducted with a qualitative method to find explanations for NAV deviations by testing the entrenchment of current theories in Swedish investment companies. The study was conducted through a total of 15 interviews with representatives from investment companies, equity research analysts and fund managers. LÄS MER

  5. 4. The Discount Delusion - The Swedish Closed-End Fund Premium Puzzle

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Tommy Chen; Christer Tour; [2013]
    Nyckelord :Closed-End Funds; Discounts; Persistence; Sweden; Efficient Market Hypothesis;

    Sammanfattning : The final piece to the Closed-End Fund Puzzle has long eluded researchers and practitioners alike. Many attempts have been made in order to explain the existence of persistent discounts on their net asset values with varying results that sometimes outright contradict each other. LÄS MER

  7. 5. Discounts in Closed-End Funds - A Study on the Swedish Market

    Magister-uppsats, Lunds universitet/Företagsekonomiska institutionen

    Författare :Erik Hagman; Robin Egerot; [2011]
    Nyckelord :CEF; discount; premium; efficient market hypothesis; investor sentiment; Management of enterprises; Företagsledning; management; Business and Economics;

    Sammanfattning : The thesis strives to use previous research as a basis to perform an up-to-date and relevant study about the CEF puzzle on the Stockholm stock exchange. Annual data for the whole population of Swedish CEFs will be studied over the time period 2006-2010. LÄS MER