                                        789

William N. Goctzmann and Roger G. Ibbotson, Do Winners Repeat?, Journal of Portfolio

Management, 20, no. 2 (Winter 1994), pp. 9-18.

John Bogle, Bogle jn Mutual Funds (Burr Ridge, Ih: Richard D. Irwin, 1994), Chapter 4.

10.   (survivorship bias)   ,   -
  ,    ,   -
   ,    .  -
   :

Stephen J. Brown, William Goetzmann, Roger G. Ibbotson, and Stephen A. Ross,
Survivorship Bias in Performance Studies, Review of Financial Studies, 5, no. 4 (1992),
pp. 553-580.

11.   ,    ,   -
   :

Rex Thompson, The Information Content of Discounts and Premiums on Closed-End

Fund Shares, Journal of Financial Economics, 6, no. 2/3 (June/September 1978),

pp. 151-186.

Greggory A. Brauer, "Closed-End Fund Shares" Abnormal Returns and the Information

Content of Discounts and Premiums, Journal of Finance, 43, no. 1 (March 1988),

pp. 113-127.

Kathleen Weiss, The Post-Offering Price Performance of Closed-End Funds, Journal

Management, 18, no. 3 (Autumn 1989), pp. 5767.

Charles M. C. Lee, Andrei Shieifer, and Richard H. Thaler, Anomalies: Closed-End

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John W. Peavey III, Returns on Initial Public Offerings of Closed-End Funds, Review

of Financial Studies, 3, no. 4 (1990), pp. 695-708.

Charles M. . Lee, Andrei Shieifer, and Richard H. Thaler, Investor Sentiment and

the Closed-End Fund Puzzle, Journal of Finance, 46, no. 1 (March 1991), pp. 75-109.

Albert J. Fredman and George Cole Scott, An Investor's Guide to Clossed-End Fund

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James Brickley, Steven Manaster, and James Schallheim, The Tax-Timing Option and

Discounts on Closed-End Investment Companies, Journal of Business, 64, no. 3 (July

1991), pp. 287-312.

J. Bradford DeLong and Andrei Shieifer, Closed-End Fund Discounts, Journal of Portfolio

Management, 18, no. 2 (Winter 1992), pp. 46-53.

Nai-fu Chen, Raymond Kan, and Merton H. Miller, Are the Discounts on Closed-End

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pp. 795-800, 809-810.

Navin Chopra, Charles M. C. Lee, Andrei Shieifer, and Richard H. Thaler, Yes, Discounts

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48, no. 2 (June 1993), pp. 801-808, 811-812.

12.       :

Greggory A. Brauer, "Open-Ending" Closed-End Funds, Journal of Financial Economics,
13, no. 4 (December 1984), pp. 491-507.

James A. Brickley and James S. Schallheim, Lifting the Lid on Closed-End Investment
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20, no. 1 (March 1985), pp. 107-117.