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Are the Discounts on Closed-End Funds a Sentiment Index?

Authors

  • NAI-FU CHEN,

  • RAYMOND KAN,

  • MERTON H. MILLER

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    • The authors are from, respectively, University of California (Irvine) and Hong Kong University of Science and Technology; Faculty of Management, University of Toronto; and Graduate School of Business, University of Chicago. We are grateful to Gregg Brauer for providing us with the closed-end fund data.


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