封闭 式基金困惑 （ the closed-end fund puzzle ）是指：实证研究发现：封闭式基金的市场交易价格通常不等于其持有的资产组合的市场价值（即基金的资产净值）。
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The closed - end fund discount phenomenon is a puzzle that has existed for a long time and has attracted much attention of economists.
封闭式基金的价格折扣现象是一个长期存在的谜题，一直备受学者关注。
Closed-end fund discount is a puzzle which perturbs many people, for it violates the efficient market hypothesis and challenges the modern financial theory.
封闭型基金折价是一个一直困扰人们的难解之谜，它违背了有效市场假说，是对现代金融理论的一种挑战。
This dissertation proceeds both behavioral finance and traditional finance, especially the former to understand the "closed-end fund puzzle"from the Chinese experience.
本论文尝试将行为金融学和主流金融学的思想融合在一起，尤其是前者，来研究中国的封闭式基金。
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