Closed-End Fund Discounts and Economic Policy Uncertainty
نویسندگان
چکیده
This paper empirically tests the determinants of closed-end fund (CEF) prices by employing cointegration and error-correction modeling with an advanced ARDL framework. Since CEF shares generally trade at discounts to their net asset value (NAV), we modeled prices, including volatility economic policy indices along NAVs. The present study consists 31 monthly frequency discount data from January 1999 April 2018 uncertainty (EPU) ten subindices. finds evidence for in many series statistically significant coefficients short- long-run estimates included
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ژورنال
عنوان ژورنال: Journal of risk and financial management
سال: 2023
ISSN: ['1911-8074', '1911-8066']
DOI: https://doi.org/10.3390/jrfm16030200