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理性投机者理论对我国封闭式基金折价的解释 被引量:2

理性投机者理论对我国封闭式基金折价的解释
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摘要 本文由对我国证券市场中投资者结构的调查分析入手,引入“理性投机者”概念解释我国封闭式基金折价问题。结论是:在投机气氛浓重、存在市场操纵行为、封闭式基金整体管理水平一般且存在道德风险的市场环境下,理性投机者的有限理性、受整个市场情绪影响的特点,是造成我国目前封闭式基金折价的主要原因。
出处 《南开经济研究》 CSSCI 北大核心 2003年第2期63-66,共4页 Nankai Economic Studies
关键词 理性投机者理论 中国 封闭式 基金折价 证券市场 道德风险 Discount Rational Speculators Sentiment
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参考文献2

二级参考文献6

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共引文献15

同被引文献26

  • 1熊鹏 霍菲.《小的,赚钱的》,Forthcoming in New Fortune,Working Paper[J].《新财富》,色诺芬公司,.
  • 2张炜.《封闭转开放效果会如何》[N].《中国经济时报》,2002年11月19日.
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  • 9Peavy, John, 1990, "Returns on Initial Public Offerings of Closed -End Funds", Review of Financial Studies 3, 695-708.
  • 10Xu, Yexiao, 2000, "Understanding Closed- End Fund Puzzles - A Stochastic Turnover Perspective", Working Paper,School of Management, The University of Texas at Dallas.

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