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dc.contributor.author张俊生
dc.contributor.author卢贤义
dc.contributor.author杨熠
dc.date.accessioned2017-11-14T01:07:53Z
dc.date.available2017-11-14T01:07:53Z
dc.date.issued2001-05-03
dc.identifier.citation财经研究,2001,(05):59-64
dc.identifier.issn1001-9952
dc.identifier.otherCJYJ200105009
dc.identifier.urihttps://dspace.xmu.edu.cn/handle/2288/139317
dc.description.abstract封闭式证券投资基金折价交易作为一种普遍现象在西方受到深入的研究 ,因为其意义不仅在于解释为什么会存在折价 ,更重要是在于为捍卫或批判有效市场假说提供了检验的场所 ;同时也为验证到底有无“噪声交易者”提供了一个好机会。本文以在上海证券交易所交易的基金为样本对我国封闭式证券投资基金折价交易现象进行实证分析 ,验证了广为接受的“投资者情绪假说”不能解释我国封闭式基金的折价交易问题。同时提出并验证这一现象可能与投资者在不同时期对基金的偏好有关。
dc.description.abstractAs a common phenomenon in the capital market,the discount of closed*Mend fund has been researched deeply in aboard,because the phenomenon can give a challenge to “the efficient market hypothesis” or can also support it.At the same time,it give a chance to verify whether “noise traders”existsThere are a lot of theories to explain the discount of closed-end fund,and the most important one is the theory of investor sentiment which based on the noiseBut the authors find that the theory can not give an answer to discount of closed-end fund in China by using an empirical researchAt the same time we find that there is a high correlation between discount level and the index of market
dc.language.isozh_CN
dc.subject封闭式基金
dc.subject折价交易
dc.subject投资者情绪
dc.subjectclosed-end fund
dc.subjectdiscount
dc.subjectinvestor sentiment
dc.title噪声理论能解释我国封闭式基金折价交易现象吗——与薛刚、顾锋、黄培清三位先生商榷
dc.title.alternativeCan the Noise Theory Explain the Discount of Closed-end Fund in China ——Discussing with Mr.Xue Gang,Gu Feng,and Huang Pei Qing
dc.typeArticle


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