我國(guó)封閉式基金折價(jià)現(xiàn)象解釋.pdf

1、蘭州大學(xué)碩士學(xué)位論文我國(guó)封閉式基金折價(jià)現(xiàn)象解釋姓名：楊成元申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：經(jīng)濟(jì)學(xué)金融學(xué)指導(dǎo)教師：王文勝20090601碩士論文我國(guó)封閉式基金折價(jià)現(xiàn)象解釋ABSTRACTThispaperreviewthehistorydevelopmentandtheuniquestatusofChina’Sdosedendfundmarketbriefly，AccordingtotheactualsituationofChinassecuri

2、tiesmarket，weselectedthedataofthe17dosed—endfundsfrom2001to2009，anddescribedtheirtimeprocessingcharacteristicsandthedemographiccharacteristicsoftheprocess，citingresearchresultfromthedomesticscholarsandforeignaboutclosede

3、ndfunddiscount，fromtheinvestorsentiment，thetraditionalfactorsandspecificfactorsinChina’Ssecuritiesmarketintermsofdosedendfund，weanalysistheimpactfactoronthedosedendfunddiscounttradingfromthetheoreticalandempirical，anduse

4、multivariatestepwiseregressiontoanalysepossiblyexplanatoryvariablesTheresultsoftheanalysisshowthatthesurvivaltime，Concentrationofthestockinvestment，timefactoranddividendsaremajorfactorsaffectingthedosed—endfunddiscount；w

5、everifychinasdosedendfundsstockmarketbyusingthreeassumptionofLSTmodeItshowthemarketinourcountryhasinvestorsentiment，TheadditionalriskoftherandomfluctuationsininvestorsentimentinCllinahasincreasedthevolatilityofthediscoun

6、t，furtheranalysis，weknowchina’SstockmarketalestillunderdevelopmentInitiallyTheimmaturemarkettriggeredthe”herdbehaviorwhichassimilatetherationalinvestorsandnoisetraders，andenlargethechangesininvestorsentimentincreasethepr

7、icefluctuationsofthedosedendfundswhichimpelclosed—endfunddiscountorpremiumbecomebiggeritleadtodosedendfunddiscountisgreatervolatility，moredeeplythanthediscountforeignmarketKeywords：ClosedendFundDiscountInvestorSentimentA