Private investment and public equity returns
نویسندگان
چکیده
منابع مشابه
Private investment and public equity returns
Because of external financing costs, private business owners often need to self-finance new investment projects. These self-financing needs create an incentive for business owners to hold financial assets whose payoffs are positively correlated with self-financing needs. If this effect is aggregated, expected returns on financial assets should be negatively correlated with aggregate private inv...
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Private equity is still a relatively young asset class, with some unique characteristics. One feature is the very irregular timing of cashflows, and a consequence of this is that private equity relies on measures of returns that are not standard in other asset classes. As such, new investors can be unclear or unaware of the differences between the common methods for measuring private equity per...
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ژورنال
عنوان ژورنال: Journal of Economics and Business
سال: 2012
ISSN: 0148-6195
DOI: 10.1016/j.jeconbus.2011.10.001