摘要：Closed-end funds have been a topic of lively debate for several decades. In this paper I focus on studies relating to liquidity, sentiment and segmentation and, in particular, on studies that investigate closedend country funds. I extend the previous survey by Dimson & MinioKozerski (1999) by adding in more recent contributions to the closedend fund debate; and by including more of a discussion of sentiment, segmentation and country funds I complement the recent survey by Cherkes (2012). In addition I provide summaries of over 40 key papers in these areas, listing the sample and sample period, the theory examined and the findings of each paper.
关键词：Closed-end Fund; Closed-end Country Fund; Investment Trust; International Finance; International Financial Markets; Liberalization
