The deep discount makes our country's closed-end funds marginalized.
我国封闭式基金的深度折价使得我国封闭式基金边缘化。
Chapter Three analyzed the status quo of the discount on China's closed-end funds.
第三章为我国封闭式基金折价现状分析。
There are numerous closed-end muni funds trading at double-digit percentage discounts to their NAVs.
有许多封闭式基金相对它们的基金资产净值有两位数百分比的折扣。
Chapter two is "the choice of tools those are used in the empirical analysis of the closed-end fund".
第二章，封闭式基金绩效分析工具选择。该部分对本文实证研究需要用到的分析工具进行一定的说明。
This design alleviates the problem of keeping the closed-end capillary clean and free of mercury slugs.
这种设计缓和了要求保持封闭端毛细管清洁和水银芯畅通的问题。
The liquidity lack of fund market is the main reason that cause the discount of closed-end fund of our country.
基金市场流动性的缺失是造成目前我国封闭式基金深度折价交易现象的主要原因。
Our results show that tick size is helpful to enhance the market efficiency of Shanghai closed-end fund market.
实证结果表明，最小报价单位影响市场效率，最小报价单位“分改厘”提高了上海封闭式基金的市场效率。
Chapter Four did the empirical analysis on the discount of China's closed-end funds. It was the core of the full article.
第四章为我国封闭式基金折价的实证分析部分，是全文的核心章节。
One retail route to the A-share market, he said, is the Morgan Stanley China a share Fund, a closed-end offering that started in 2007.
他说，一种进入A股市场的零售渠道是摩根·士丹利中国A股基金(Morgan Stanley ChinaaShare Fund)，这是从2007年开始推出的一种封闭型基金。
The standard financial theory can't satisfactorily explain this phenomenon, therefore, we call this phenomenon closed-end fund puzzles.
由于标准金融理论很难圆满解释这一现象，因而被称为“封闭式基金之谜”。
Then, it studies the characteristic of price volatility and risk in closed-end securities investment fund market by use of ARCH models.
然后，利用自回归条件异方差模型系统研究了我国封闭式基金市场的价格波动特性，分析了基金市场的风险特征。
According to Efficient Markets Hypothesis, investors of closed-end funds can't earn excess risk-adjusted returns which accord with CAPM.
在有效市场的前提下，封闭式基金的收益应满足资本资产定价模型(CAPM)的假设，无法获得超额收益。
Based on the practice situation of China stock market and the closed-end fund, the investor sentiment theory is suitable for domestic market.
基于中国股票市场与封闭式基金的实际情况，投资者情绪理论在中国还是适用的。
Article 5 in a fund contract the mode of operation of the fund shall be specified. There may be closed-end funding, open-end funding and other modes.
第五条基金合同应当约定基金运作方式。基金运作方式可以采用封闭式、开放式或者其他方式。
With a view to trade at discounts of closed-end funds, this paper tries to answer what is the character of the closed-end fund discount in Chinese market.
针对封闭式基金折价交易现象，本文解释我国封闭式基金折价交易的表现特征。
Closed-end fund discount is a puzzle which perturbs many people, for it violates the efficient market hypothesis and challenges the modern financial theory.
封闭型基金折价是一个一直困扰人们的难解之谜，它违背了有效市场假说，是对现代金融理论的一种挑战。
Worse, two little-noticed but important bits of the market have imploded this month, and there are fears for a third, known as closed-end municipal-bond funds.
更为糟糕的是，在这个月，债券市场中两个很少引起关注但是很重要的部分崩溃了，并且人们担心下一个可能是封闭式市政债券基金。
These years, in terms of quantity or size, the open-end fund has gradually replaced the closed-end fund and become the mainstream variety of Chinese fund market.
近年来，我国开放式基金无论在数量还是规模上都逐渐取代了封闭式基金，成为基金市场的主流品种。
This paper written before the launch of HS300 index futures, and made a general reference to investors those who want to arbitrage on high-discount closed-end funds.
本文写在沪深300指数期货推出之前，旨在提供给套利者一种实用的针对封闭式基金高折价的套利方法，为广大投资者以参考。
This dissertation proceeds both behavioral finance and traditional finance, especially the former to understand the "closed-end fund puzzle"from the Chinese experience.
本论文尝试将行为金融学和主流金融学的思想融合在一起，尤其是前者，来研究中国的封闭式基金。
The discount of closed-end fund violates the financial theory and challenges "the Efficient Market Hypothesis", but there is no improved and convinced theory to explain it.
折价现象违背了“有效市场假说”，但至今没有完善、令人信服的理论充分解释。
Vanguard, Fidelity and Putnam all have open-end convertible mutual funds, and there are many closed-end funds, including some trading at discounts to their net asset values.
先锋，富达和Putnam Investments都有可转换开放式共同基金的，同时也有许多封闭式基金，包括一些基金在其净资产值以下。
According to statistics, the week before the Spring Festival holiday, the average annualized yield rate of the bank issued RMB products with closed-end expected yield rate was 4.18%.
据统计，节前一周，银行发行的封闭式预期收益型人民币产品平均年化收益率为4.18%。
However, because of the special operation environment, China closed-end fund discount has its own characteristics different from that of foreign countries, which deserve further research.
而我国的封闭式基金因为运行环境的特殊性，存在着许多有别于国外封闭式基金的特点，值得深入的研究。
NYSE Euronext offers customers around the world a single pan-European market for its stock market products, including equities, closed-end funds, bonds, exchange-traded funds and warrants.
纽泛交易所给客户提供一个国际化特有的欧洲盘股票产品交易市场，包括股权、封闭式基金、债券、交易型开放式指数基金和权证交易。
From the Angle of the agent's cost which comes from the principal-agent between the investor and fund manager, the article analyses the reason of the discount of closed-end fund of our country.
从投资者和基金经理之间委托代理产生的代理成本的角度，分析了我国封闭式基金折价的原因。
From the Angle of the agent's cost which comes from the principal-agent between the investor and fund manager, the article analyses the reason of the discount of closed-end fund of our country.
从投资者和基金经理之间委托代理产生的代理成本的角度，分析了我国封闭式基金折价的原因。
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