Showing 1 - 10 of 18,740
Persistent link: https://www.econbiz.de/10009577368
This paper suggests a solution to what has become known as the "private equity premium puzzle" (Moskowitz and Vissing-Jorgensen (2002)). We interpret occupational choice as a dynamic portfolio choice problem of a life-cycle investor facing a liquidity constraint and imperfect information about...
Persistent link: https://www.econbiz.de/10009725485
Persistent link: https://www.econbiz.de/10003128393
. Findings also revealed that themain factors for entrepreneurship to occur are a person's age, wealth, andskill set, although … exiting entrepreneurship is not closely related to skillsor wealth but to the investment life cycle. Young agents with a high …
Persistent link: https://www.econbiz.de/10014201358
Persistent link: https://www.econbiz.de/10001712761
Persistent link: https://www.econbiz.de/10011400372
Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to...
Persistent link: https://www.econbiz.de/10003888739
Persistent link: https://www.econbiz.de/10003423692
Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to...
Persistent link: https://www.econbiz.de/10003670939
Persistent link: https://www.econbiz.de/10003511922