Market liquidity is the ease of trading an asset. Its risk is the potential loss, because a security can only be traded … long remained a more or less elusive concept. Treatment of liquidity risk is still under development.This paper provides an … overview on important aspects of market liquidity and its risk. We also survey existing models to integrate market liquidity …

ownership leads to risk aversion and more business segment diversification. Overall, the family management aspect is more likely …

Market liquidity risk, the difficulty or cost of trading assets in crises, has been recognized as an important factor … in risk management. The literature has already proposed several models to include liquidity risk in the standard Value-at-Risk … benchmarked. This paper performs comparative back-testings of daily risk forecasts for a large selection of liquidity risk models …

Structure and stability of private equity market risk are still nearly unknown, since market prices are mostly … show that aggregate market risk varies strongly over time and is positively correlated with the market return variance …. Cross-sections of market risk are highly unstable, whereas ranks of individual vehicles within yearly subsamples change …

highlights useful approaches to the problem of return measurement under conditions of illiquidity. Then, specific risk management … issues, including asset allocation issues, are discussed. -- private equity ; risk/return measurement ; net asset values … ; cash flows ; illiquidity ; stale pricing ; risk management ; asset allocation …