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Summary and Conclusions

  • B. Philipp Kellerhals
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 506)

Abstract

Part II of the study contains a theoretical and empirical analysis on the special equity asset class of closed-end funds. The analysis contributes to the pricing literature on closed-end funds in that we develop a valuation model that captures the distinct pricing characteristics of closed-end fund market shares. Given the pricing model we are able to perform a general closed-end fund analysis and derive insights into two potential applications of the model valuable for investment decisions.

Keywords

Abnormal Return Price Model Valuation Model Cumulate Abnormal Return Price Risk 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer-Verlag Berlin Heidelberg 2001

Authors and Affiliations

  • B. Philipp Kellerhals
    • 1
  1. 1.Gesellschaft für Wertpapieranlagen mbHDeutscher Investment-TrustFrankfurt am MainGermany

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