Download Closed-End Investment Companies: Issues and Answers by Seth Anderson, Gustav V. R Born PDF

By Seth Anderson, Gustav V. R Born

Closed-End funding businesses (CEICs) have been the dominant kind of funding businesses within the usa in the course of the early a part of this century, yet curiosity in them declined after the 1929 inventory industry crash. given that 1985, even though, there was an important revival of curiosity in CEICs.
a great deal of educational learn has involved in the character of closed-end money, discount rates and charges, and at the percentage fee habit of those organisations, which frequently leads to the costs differing from the web asset worth of the stocks.
This booklet is designed for the educational researcher attracted to CEICs and the practitioner attracted to utilizing CEICs as an funding motor vehicle. The authors summarize the evolution of CEICs, current the standards that reason CEIC stocks to exchange at diversified degrees from their web asset values, supply an entire survey of the educational literature in this subject, and summarize the present nation of study on CEICs.

Show description

Read Online or Download Closed-End Investment Companies: Issues and Answers PDF

Best accounting books

Studies in International Taxation

As a united international economic climate evolves, economists and policymakers are pressured to contemplate no matter if the present process of taxing source of revenue is inconsistent with the rage towards liberalized global monetary flows and elevated foreign pageant. to aid investigate present tax regulations and incentives, this quantity provides new study on how taxes impact the funding and financing judgements of multinationals at the present time.

Accounting Reform in Transition and Developing Economies

A lot has been written concerning the monetary and political difficulties of nations which are within the strategy of altering from centrally deliberate structures to industry platforms. such a lot stories have fascinated with the commercial, felony, political and sociological difficulties those economies have needed to face in the course of the transition interval.

Payroll Accounting 2013

Organize for profession good fortune with first-hand event in calculating payroll, finishing payroll taxes, and getting ready payroll files and studies. The 2013 variation of Bieg/Toland's market-leading textual content addresses all the most up-to-date legislation and up to date updates relating to payroll. The textual content makes a speciality of purposes instead of idea, and contains robust end-of-chapter fabric that boosts options and gives helpful hands-on studying reviews.

Insolvenzrecht: Grundkurs für Wirtschaftswissenschaftler

Das Buch stellt das komplette Insolvenzrecht für Studenten der Wirtschaftswissenschaften dar und geht auf die wichtigsten klausurrelevanten Themenfelder ein. Der Stoff wird anhand zahlreicher Beispiele und Fälle anschaulich vermittelt. Wiederholungsfragen in jedem Kapitel vertiefen das Wissen.

Additional info for Closed-End Investment Companies: Issues and Answers

Sample text

20). 05 level (Zweig's data from his table 3). Source: Hanna (1977), p. 1369 Hanna replicates Zweig's main test, which assumes a $10,000 initial portfolio adjusted to a long or short position each time a reverse signal is given. 21 presents the divergent results. 01 strategy yields significant results and 56 CEICs: Issues and Answers he employs that strategy with data from the January 1971 to June 1975 period. During this period, the strategy does not continue to produce significant results. He concludes that Zweig's work, though flawed, presents a useful method by which to test variables for market predictability.

Using an analysis of variance technique, Simon can not reject the null hypothesis that all of the means were equal. Simon continues the analysis by ranking the firms each year. His two-way analysis of variance shows no significant difference in the ranked performance of the funds. In another attempt to determine the consistency of relative performance, he compares each firm's yearly performance to the mean of the six firms in that year. This time, Simon finds significant differences in relative performance.

Many of these studies are lengthy and often include investment company topics other than discounts. Thus, we have organized the literature in chronological order to highlight the evolving views on CEIC discounts. Pratt, Eugene J. " Financial Analysts Journal (July-August 1966): 79-82. The debate on the origin of closed-end fund share price discounts or premiums begins in earnest with the appearance of the Pratt article. Pratt employs casual empiricism in addressing several of the competing hypotheses for CEIC discounts.

Download PDF sample

Rated 4.95 of 5 – based on 30 votes