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Do Derivative Instruments Play a Role in Performance Theory? The Turkish Closed-End Funds Case

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dc.contributor.authorPirgaip, Burak
dc.contributor.authorID252136tr_TR
dc.date.accessioned2024-03-06T12:37:43Z
dc.date.available2024-03-06T12:37:43Z
dc.date.issued2016
dc.departmentÇankaya Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Bankacılık ve Finans Bölümüen_US
dc.description.abstractMarket 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-usersen_US
dc.description.publishedMonth5
dc.identifier.citationPirgaip, 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.doi10.11114/aef.v3i2.1349
dc.identifier.endpage145en_US
dc.identifier.issn2332-7294
dc.identifier.issue2en_US
dc.identifier.startpage136en_US
dc.identifier.urihttp://hdl.handle.net/20.500.12416/7516
dc.identifier.volume3en_US
dc.language.isoenen_US
dc.relation.ispartofApplied Economics and Financeen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectClosed-End Fundsen_US
dc.subjectDiscounten_US
dc.subjectManagerial Performanceen_US
dc.subjectDerivativesen_US
dc.titleDo Derivative Instruments Play a Role in Performance Theory? The Turkish Closed-End Funds Casetr_TR
dc.titleDo Derivative Instruments Play a Role in Performance Theory? the Turkish Closed-End Funds Caseen_US
dc.typeArticleen_US
dspace.entity.typePublication

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