Summarizes three explanations put forward in previous research for the deviation of closed‐end fund (CEF) share prices from their net asset values and tests the theories based on market sentiment (noise trading) and market segmentation (market frictions). Analyses 1991‐1997 data on 18 UK...

This study evaluates the practicability of style analysis in evaluating the risk‐adjusted performance of New Zealand's retail equity trusts. The size of the New Zealand market and the short history of data available generate doubts concerning the usefulness of style analysis under these...

The U.S. Forest Service and U.S. Bureau of Land Management control larges tracts of Federal public lands mainly in the western United States. Management goals for lands controlled by these agencies are described as "multiple-use." Some of the lands are forested, mountainous, contain wildlife or...

This article uses hedonic modeling for valuation of real estate located near Jackson, Wyoming and agricultural property throughout the remainder of Wyoming. The attributes of the hedonic model used to value resort properties are compared with attributes of the model used to value agricultural...

This study develops nominal and real holding period return indices for operating ranches. The indices contain two components, monthly ranch operating profit and capital appreciation. A regression model that determines the effect of various attributes on total market value is used to estimate...