New classes of generalized Nevanlinna functions, which under multiplication with an arbitrary fixed symmetric rational function remain generalized Nevanlinna functions, are introduced. Characterizations for these classes of functions are established by connecting the canonical factorizations of the product function and the original generalized Nevanlinna function in a constructive manner. Also a detailed functional analytic treatment of these classes of functions is carried out by investigating the connection between the realizations of the product function and the original function. The operator theoretic treatment of these realizations is based on the notions of rigged spaces, boundary triplets, and associated Weyl functions.
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