封闭式基金的市场流动性研究  

Research on Market Liquidity of Closed-end Fund

作　　者：罗洪浪[1] 王浣尘[1] 

机构地区：[1]上海交通大学管理学院

出　　处：《上海管理科学》2004年第2期43-45,共3页Shanghai Management Science

摘　　要：本文在给出一个改进流动性指标的基础上 ,利用该指标对封闭式基金的市场流动性进行了分析。研究发现 :封闭式基金市场流动性不存在周内效应 ,周内也无显著的变动模式 ;封闭式基金流通股本规模对市场流动性有显著影响 ,市场偏好次小盘基金 ;封闭式基金市场流动性总体上对基金折价没有显著影响。After an improved liquidity index is presented,it is applied to examine market liquidity of closed-end fund. The results are as follows: there are not a day-of-the-week effect and a distinct pattern of variation for market liquidity of closed-end fund;the size of circulating capitalization of closed-end fund has a significant effect on market liquidity,and the market has a preference for secondarily small closed-end fund;market liquidity of closed-end fund as a whole don't significantly influence on closed-end fund discounts.

关 键 词：封闭式基金 市场流动性 周内效应 变动模式 流通股本规模 基金折价 

分 类 号：F830.39[经济管理—金融学]