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Cited by 431

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Investor Reaction to Salient News in Closed‐End Country Funds

Klibanoff, Peter, Lamont, Owen, Wizman, Thierry A.·1998·The Journal of Finance
DOI 10.1111/0022-1082.265570
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Abstract

We use panel data on prices and net asset values to test whether dramatic country‐specific news affects the response of closed‐end country fund prices to asset value. In a typical week, prices underreact to changes in fundamentals; the (short‐run) elasticity of price with respect to asset value is significantly less than one. In weeks with news appearing on the front page of The New York Times, prices react much more; the elasticity of price with respect to asset value is closer to one. These results are consistent with the hypothesis that news events lead some investors to react more quickly.

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Crossref · 10.1111/0022-1082.265570

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Metadata

Authors
Klibanoff, P., Lamont, O., & Wizman, T. A.
Venue
The Journal of Finance
Publisher
Wiley
Published
1998-04
Volume
53
Issue
2
Pages
673-699
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.265570
OpenAlex
W2889836782
Cited by
431
References
3
FWCI
19.21
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Investor Reaction to Salient News in Closed‐End Country Funds. https://app.cochat.ai/papers/10.1111/0022-1082.265570
The paper
Klibanoff, P., Lamont, O., & Wizman, T. A. (1998). Investor Reaction to Salient News in Closed‐End Country Funds. The Journal of Finance. https://doi.org/10.1111/0022-1082.265570

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.