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。
So many funds scramble to buy the new closed-end funds, there are markets in the role of empiricism.
这么多资金争相购买新的封闭式基金，但在经验主义的作用市场。
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。
The high discount phenomenon of our closed-end fund is unreasonable, it has caused high attention of the theory & practice field.
我国封闭式基金这种普遍的高折价现象是不合乎情理的，已经引起了理论及实务界的高度重视。
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。
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。
We insist on the key projects, business listing protection, the implementation of closed-end management, and create a convenient safe production environment.
我们坚持对重点项目、企业挂牌保护，实行封闭式管理，创建便捷安心的生产环境。
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。
Deng's fund has even outperformed the Matthews China fund (MCHFX), up 8.7% and another closed-end competitor from Boston, the China fund (CHN), which is up 6.3% YTD.
邓的基金收益率达8.7%，甚至超过了马修中国基金和另外一个来自波士顿的封闭式基金竞争者CHN，后者到目前为止的增长是6.3%。
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。
Therefore, how to objectively and accurately, comprehensive evaluation closed-end funds have become fund industry and the theoretical issues of general concern and a basic research project.
因此，如何客观、准确、全面的评价封闭式基金已成为基金业界和理论界普遍关注的问题和一项基础性研究课题。
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 c...
该文从投资者扣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。
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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