We check performance persistence of closed-end funds in terms of both market price returns and net asset value average returns in each category. In addition, we use regression models to test market timing ability. We use the entire population of 603 closed-end funds over the period 01/01/2010 to...

This study examines the short and long-run price relationship between mutual funds (Jordinvest First Trust Fund, Growth Fund, Horizon Fund, and Jordan Securities Fund) and Amman Stock Exchange Index over the time period from March 2005 till the end of November 2009. The study findings are...

The literature provides broad evidence for the seasonality of stock market returns, but is very scarce regarding the potential seasonality of investment funds performance. Using a sample of 5349 Equity Europe or Equity Eurozone investment funds, this article contributes to fill this gap by...

We develop a liquidity premium microstructure model that links the closed-end fund (CEF) premiums to the interplay between the fund's bid-ask spread and that of its holdings. We test the liquidity premium hypothesis against a host of competing determinants that include a battery of investor...