Do Derivative Instruments Play a Role in Performance Theory? The Turkish Closed-End Funds Case
| dc.contributor.author | Pirgaip, Burak | |
| dc.date.accessioned | 2024-03-06T12:37:43Z | |
| dc.date.available | 2024-03-06T12:37:43Z | |
| dc.date.issued | 2016 | |
| dc.description.abstract | Market prices of closed-end funds (CEF) deviate from their net asset values (NAV) which is known as “CEF puzzle”. I attempt to show from the Turkish experience that CEF discounts/premia predict the corresponding CEF‟s future returns, in the light of managerial performance theory. But derivatives facet of the subject matter has not been uncovered so far. Therefore I hypothesize that performance of derivative user CEF are better estimators for discounts/premia than non-users. I show a significant positive relation between CEF discounts/premia and future NAV performance. However, this relation seems not to be more explicit for derivative user CEF than non-users | en_US |
| dc.identifier.citation | Pirgaip, Burak. (2016). "Do Derivative Instruments Play a Role in Performance Theory? The Turkish Closed-End Funds Case", Applied Economics and Finance, vol.3, No.2, pp.136-145. | en_US |
| dc.identifier.doi | 10.11114/aef.v3i2.1349 | |
| dc.identifier.issn | 2332-7294 | |
| dc.identifier.issn | 2332-7308 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12416/7516 | |
| dc.language.iso | en | en_US |
| dc.relation.ispartof | Applied Economics and Finance | en_US |
| dc.rights | info:eu-repo/semantics/openAccess | en_US |
| dc.subject | Closed-End Funds | en_US |
| dc.subject | Discount | en_US |
| dc.subject | Managerial Performance | en_US |
| dc.subject | Derivatives | en_US |
| dc.title | Do Derivative Instruments Play a Role in Performance Theory? The Turkish Closed-End Funds Case | tr_TR |
| dc.title | Do Derivative Instruments Play a Role in Performance Theory? the Turkish Closed-End Funds Case | en_US |
| dc.type | Article | en_US |
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| gdc.description.department | Çankaya Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Bankacılık ve Finans Bölümü | en_US |
| gdc.description.endpage | 145 | en_US |
| gdc.description.issue | 2 | en_US |
| gdc.description.startpage | 136 | en_US |
| gdc.description.volume | 3 | en_US |
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| gdc.virtual.author | Pirgaip, Burak | |
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