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Discount Puzzle of Closed-End Mutual Funds: A Case of Bangladesh

Rahman, Farhana LU (2020) NEKN02 20201
Department of Economics
Abstract
The thesis paper intends to perform a relevant study on the closed-end fund puzzle in the perspective of an emerging market. Quarterly data of 36 closed-end mutual funds traded in Dhaka Stock Exchange are collected over the sample period of 2016 to 2019. Dependent and Independent variables are mapped down by exploring previous research. Number of stocks, weight of top 10 investments, fund size, fund age, fund maturity, turnover and dividend yield are taken as explanatory variable to analyze the impact on CEF discount. A fixed effects panel regression is performed on the data set with few diagnostic tests to ensure the reliability of the analysis conducted. The results show that, the variable fund size and fund maturity have a significant... (More)
The thesis paper intends to perform a relevant study on the closed-end fund puzzle in the perspective of an emerging market. Quarterly data of 36 closed-end mutual funds traded in Dhaka Stock Exchange are collected over the sample period of 2016 to 2019. Dependent and Independent variables are mapped down by exploring previous research. Number of stocks, weight of top 10 investments, fund size, fund age, fund maturity, turnover and dividend yield are taken as explanatory variable to analyze the impact on CEF discount. A fixed effects panel regression is performed on the data set with few diagnostic tests to ensure the reliability of the analysis conducted. The results show that, the variable fund size and fund maturity have a significant positive and turnover has a significant negative impact on CEF discount while the impact of measures of diversification, dividend yield and fund age are found insignificant. (Less)
Please use this url to cite or link to this publication:
author
Rahman, Farhana LU
supervisor
organization
course
NEKN02 20201
year
type
H1 - Master's Degree (One Year)
subject
keywords
Closed-End Mutual Funds, Discount, Asset Management Companies, Bangladeshi Stock Market
language
English
id
9031845
date added to LUP
2021-03-16 15:11:43
date last changed
2021-03-16 15:11:43
@misc{9031845,
  abstract     = {{The thesis paper intends to perform a relevant study on the closed-end fund puzzle in the perspective of an emerging market. Quarterly data of 36 closed-end mutual funds traded in Dhaka Stock Exchange are collected over the sample period of 2016 to 2019. Dependent and Independent variables are mapped down by exploring previous research. Number of stocks, weight of top 10 investments, fund size, fund age, fund maturity, turnover and dividend yield are taken as explanatory variable to analyze the impact on CEF discount. A fixed effects panel regression is performed on the data set with few diagnostic tests to ensure the reliability of the analysis conducted. The results show that, the variable fund size and fund maturity have a significant positive and turnover has a significant negative impact on CEF discount while the impact of measures of diversification, dividend yield and fund age are found insignificant.}},
  author       = {{Rahman, Farhana}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Discount Puzzle of Closed-End Mutual Funds: A Case of Bangladesh}},
  year         = {{2020}},
}