封闭型基金折价之谜研究述评

Comment on Study of Closed-End Fund Discount Puzzle

封闭型基金折价是一个一直困扰人们的难解之谜,它违背了有效市场假说,是对现代金融理论的一种挑战。文章介绍了封闭型基金折价之谜,并结合现代金融理论、行为金融理论和一些最新研究成果综述了对封闭型基金折价之谜的种种解释,有助于进一步理解和研究这一现象。

Closed-end fund discount is a puzzle which perturbs many people,for it violates the efficient market hypothesis and challenges the modern financial theory. This paper introduces this puzzle and reviews some explanations in modern financial theory, behavioral finance theory and some latest studies to enhance the understanding and studying of the puzzle.