Closed-End Investment Companies

Issues and Answers

  • Seth C. Anderson
  • Jeffery A. Born

Part of the Innovations in Financial Markets and Institutions book series (IFMI, volume 7)

Table of contents

  1. Front Matter
    Pages i-x
  2. Seth C. Anderson, Jeffery A. Born
    Pages 1-6
  3. Seth C. Anderson, Jeffery A. Born
    Pages 7-14
  4. Seth C. Anderson, Jeffery A. Born
    Pages 15-26
  5. Seth C. Anderson, Jeffery A. Born
    Pages 27-115
  6. Seth C. Anderson, Jeffery A. Born
    Pages 117-129
  7. Seth C. Anderson, Jeffery A. Born
    Pages 131-134
  8. Back Matter
    Pages 135-139

About this book


Closed-End Investment Companies (CEICs) were the dominant form of investment companies in the United States during the early part of this century, but interest in them declined after the 1929 stock market crash. Since 1985, however, there has been a significant revival of interest in CEICs.
A substantial amount of academic research has focused on the nature of closed-end funds, discounts and premiums, and on the share price behavior of these firms, which often results in the prices differing from the net asset value of the shares.
This book is designed for the academic researcher interested in CEICs and the practitioner interested in using CEICs as an investment vehicle. The authors summarize the evolution of CEICs, present the factors that cause CEIC shares to trade at different levels from their net asset values, provide a complete survey of the academic literature on this topic, and summarize the current state of research on CEICs.


Funds Investment USA research trade

Authors and affiliations

  • Seth C. Anderson
    • 1
  • Jeffery A. Born
    • 2
  1. 1.Huntingdon CollegeUK
  2. 2.Northeastern UniversityUSA

Bibliographic information

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