我国封闭式投资基金折价交易的灰色预测  

The Gray Forecasting of Chinese Closed-end Funds' Discount Exchange

作　　者：杜伟锦[1] 余能安 

机构地区：[1]杭州电子工业学院管理分院,浙江杭州310037

出　　处：《杭州电子工业学院学报》2002年第6期24-28,共5页Journal of Hangzhou Institute of Electronic Engineering

摘　　要：基金折价交易是指在证券交易所上市交易的基金,以低于单位基金本身净值的价格进行成交交易。封闭式基金折价交易现象,并不是我国特有的,在美国等证券业高度发达的国家也同样存在。根据灰色系统理论,结合我国证券市场中封闭式基金实际交易情况,运用GM(1,1)模型对封闭式基金的折价交易作了实证分析。研究表明,我国证券市场中的封闭式投资基金折价交易现象是普遍存在的,但折价率已呈现明显的收敛趋势。The closed-end funds discount exchange means that the price of the fund in the security exchange is lower than its net value. This case about the closed-end funds discount exchange not only exists in Chinese security exchange, but also in the highly developed security exchange countries, such as in the Unite State of America. Based on the gray system theory, this paper practically analyses the closed-end funds' discount exchange in our security exchange combining its real exchange and using the GM(1,1) mode. The conclusion is that the closed-end funds' discount exchange exists widely in our security exchange, but its discount rate has presented obvious converent trend.

关 键 词：封闭式投资基金 折价交易 灰色预测 基金折价 收敛趋势 中国 

分 类 号：F832.5[经济管理—金融学]