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Mastershares: market prices divorced from fundamentals
(2010-03-31)
The shares of a closed-end Mutual Fund may be regarded as derived
securities because their value depends entirely on the prices of
securities that comprise the fund portfolio. Therefore, the Net
Asset Value (NAV) of ...
Estimation errors and time varying betas in event studies a new approach
(2010-03-25)
The event study is one of the most powerful techniques for studying market efficiency. Over a period of time, researchers have made several modifications to the original methodology of Fama, Fisher, Jensen and Roll (1969). ...