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

Volatility 

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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