To make high-quality research more accessible and easier to explore.

Fields:
1 result

Measuring performance of international closed-end funds

Journal of Banking & Finance 2001 25(9), 1741-1767
This paper provides an empirical analysis of the performance of 45 international closed-end funds and compares alternate measures of performance using the sample of funds and 35 national market indices. The empirical evidence indicates that the risk-adjusted performance of the shares or the net asset values of the funds match the performance of their respective local market indices, as well as the world market index and do not exhibit superior timing ability. These findings are robust to conditioning on information.