Add to ORKGThe reaction of closed-end fund share prices to changes in portfolio values is on average the same whether funds are trading at discounts or premia and whether the changes in portfolio values are positive or negative. If closed-end fund discounts and premia do correctly measure investor sentiment, then these results suggest that investor sentiment does not affect the market’s reaction to news about fundamentals. Alternatively, discounts and premia may not in fact measure investor sentiment, or sentiment may play no role at all in closed-end fund pricing. Noise-trader risk and trading costs also fail to explain the observed behavior
Stocks with high sentiment betas are more sensitive to investor sentiment, with more subjective valu...
This study tests if investor’s sentiment risk is valued by the stock markets. We form portfolios bas...
An innovative method to estimate the duration of investor sentiment is applied to closed-end country...
In this paper we examine the proposition that small investor sentiment, measured by the change in th...
The existence of closed-end funds discounts/premiums, although an issue largely studied, it is still...
This paper examines the proposition that fluctuations in discounts on closed end funds are driven by...
The link between asset valuation and investor sentiment is the subject of considerable debate in the...
The purpose of this paper is to present our research on factors that may explain the existence and p...
This study tests if the financial markets price the investor’s sentiment risk. We construct portfoli...
Arbitrage pressures that could equalize closed-end fund share prices with fund portfolio values appe...
I present a model that can transform discounts on closed-end mutual funds into a measure of investor...
In this paper we examine the proposition that small investor sentiment, measured by the change in th...
International audienceThe link between investor sentiment and asset valuation is at the center of a ...
We use portfolio holdings to show that mutual funds preferentially trade stocks according to the sto...
Recent studies provide evidence that investors participating in the financial markets, decide for th...
Stocks with high sentiment betas are more sensitive to investor sentiment, with more subjective valu...
This study tests if investor’s sentiment risk is valued by the stock markets. We form portfolios bas...
An innovative method to estimate the duration of investor sentiment is applied to closed-end country...
In this paper we examine the proposition that small investor sentiment, measured by the change in th...
The existence of closed-end funds discounts/premiums, although an issue largely studied, it is still...
This paper examines the proposition that fluctuations in discounts on closed end funds are driven by...
The link between asset valuation and investor sentiment is the subject of considerable debate in the...
The purpose of this paper is to present our research on factors that may explain the existence and p...
This study tests if the financial markets price the investor’s sentiment risk. We construct portfoli...
Arbitrage pressures that could equalize closed-end fund share prices with fund portfolio values appe...
I present a model that can transform discounts on closed-end mutual funds into a measure of investor...
In this paper we examine the proposition that small investor sentiment, measured by the change in th...
International audienceThe link between investor sentiment and asset valuation is at the center of a ...
We use portfolio holdings to show that mutual funds preferentially trade stocks according to the sto...
Recent studies provide evidence that investors participating in the financial markets, decide for th...
Stocks with high sentiment betas are more sensitive to investor sentiment, with more subjective valu...
This study tests if investor’s sentiment risk is valued by the stock markets. We form portfolios bas...
An innovative method to estimate the duration of investor sentiment is applied to closed-end country...