We systematically study the value of the information contained in closed-end fund (CEF) premiums. We parametrically estimate CEF expected returns as a function of the history of CEF premiums, in addition to the current premium, and buy the quintile of funds with the highest expected returns and...

Using the 2015 and 2017 waves of the China Household Finance Survey (CHFS), we measured financial literacy and study its relationship to households' demand for digital finance. We found that a majority of households in the People's Republic of China possess limited financial literacy. The low...