Describes Standard and Poor’s (S&P: USA) star ranking system for firm performance and presents a study of the impact of ranking changes on share prices. Outlines previous research on the effect of ranking changes and examines the share prices for 70 days before and after S&P ranking change...

This study examines the behaviors of eight Asian emerging market Single Country‐Closed End Funds’ (SCCEFs) market prices, net asset values (NAV) and price to net asset value ratios from January 5, 1996 to February 25, 2000, bracketing the period of the Asian currency crisis. The purpose of...

Optimization of a portfolio involves the efficient allocation of assets given a specific goal and its application to a portfolio will improve performance to some degree. Combining alpha calculation and analysis with optimization may enhance this improved portfolio performance. Thus, it can be...

There have been many theories developed to explain the discount that existed for closed end funds. But few valuation models for closed end funds were ever developed. In this paper, a valuation model for closed-end fund is derived using the CAPM, which may be considered a breakthrough in the...