Matches in SemOpenAlex for { <https://semopenalex.org/work/W3186597166> ?p ?o ?g. }
- W3186597166 abstract "Limited partners (LPs) of private equity funds commit to invest with extreme levels of illiquidity and significant uncertainty regarding the timing of capital flows, often exacerbated by the LPs’ spending requirements and portfolio rebalancing needs. Secondary markets have emerged that alleviate some of the associated cost. This paper develops a valuation model incorporating these institutional features. Model-implied breakeven returns match empirically observed average fund returns for moderately risk-tolerant LPs with private equity allocations up to 40%. In contrast, when earning average returns in private equity, highly risk-averse LPs optimally allocate only a few percent to the asset class." @default.
- W3186597166 created "2021-08-02" @default.
- W3186597166 creator A5010639385 @default.
- W3186597166 creator A5044001380 @default.
- W3186597166 date "2021-08-17" @default.
- W3186597166 modified "2023-10-16" @default.
- W3186597166 title "How much for a haircut? Illiquidity, secondary markets, and the value of private equity" @default.
- W3186597166 cites W1495028497 @default.
- W3186597166 cites W2016253711 @default.
- W3186597166 cites W2018351633 @default.
- W3186597166 cites W2021977582 @default.
- W3186597166 cites W2102074889 @default.
- W3186597166 cites W2134450406 @default.
- W3186597166 cites W2146612430 @default.
- W3186597166 cites W2169218985 @default.
- W3186597166 cites W2344248853 @default.
- W3186597166 cites W2543963918 @default.
- W3186597166 cites W2570834760 @default.
- W3186597166 cites W2653978301 @default.
- W3186597166 cites W3023262695 @default.
- W3186597166 cites W3121165378 @default.
- W3186597166 cites W3121213291 @default.
- W3186597166 cites W3121453935 @default.
- W3186597166 cites W3121630491 @default.
- W3186597166 cites W3122111947 @default.
- W3186597166 cites W3122661688 @default.
- W3186597166 cites W3122780928 @default.
- W3186597166 cites W3122873328 @default.
- W3186597166 cites W3123434140 @default.
- W3186597166 cites W3123463192 @default.
- W3186597166 cites W3123679298 @default.
- W3186597166 cites W3123808995 @default.
- W3186597166 cites W3124335714 @default.
- W3186597166 cites W3125297906 @default.
- W3186597166 cites W3125429822 @default.
- W3186597166 cites W3125624107 @default.
- W3186597166 cites W3126059480 @default.
- W3186597166 cites W4235137536 @default.
- W3186597166 cites W4256499879 @default.
- W3186597166 cites W78518972 @default.
- W3186597166 cites W2099073136 @default.
- W3186597166 doi "https://doi.org/10.1111/fima.12375" @default.
- W3186597166 hasPublicationYear "2021" @default.
- W3186597166 type Work @default.
- W3186597166 sameAs 3186597166 @default.
- W3186597166 citedByCount "3" @default.
- W3186597166 countsByYear W31865971662022 @default.
- W3186597166 countsByYear W31865971662023 @default.
- W3186597166 crossrefType "journal-article" @default.
- W3186597166 hasAuthorship W3186597166A5010639385 @default.
- W3186597166 hasAuthorship W3186597166A5044001380 @default.
- W3186597166 hasConcept C10138342 @default.
- W3186597166 hasConcept C106159729 @default.
- W3186597166 hasConcept C143801662 @default.
- W3186597166 hasConcept C144133560 @default.
- W3186597166 hasConcept C149866677 @default.
- W3186597166 hasConcept C153180980 @default.
- W3186597166 hasConcept C161473905 @default.
- W3186597166 hasConcept C162324750 @default.
- W3186597166 hasConcept C17744445 @default.
- W3186597166 hasConcept C178297102 @default.
- W3186597166 hasConcept C186027771 @default.
- W3186597166 hasConcept C199539241 @default.
- W3186597166 hasConcept C199728807 @default.
- W3186597166 hasConcept C202093079 @default.
- W3186597166 hasConcept C2780821815 @default.
- W3186597166 hasConcept C41008148 @default.
- W3186597166 hasConcept C556758197 @default.
- W3186597166 hasConcept C71110296 @default.
- W3186597166 hasConcept C77088390 @default.
- W3186597166 hasConceptScore W3186597166C10138342 @default.
- W3186597166 hasConceptScore W3186597166C106159729 @default.
- W3186597166 hasConceptScore W3186597166C143801662 @default.
- W3186597166 hasConceptScore W3186597166C144133560 @default.
- W3186597166 hasConceptScore W3186597166C149866677 @default.
- W3186597166 hasConceptScore W3186597166C153180980 @default.
- W3186597166 hasConceptScore W3186597166C161473905 @default.
- W3186597166 hasConceptScore W3186597166C162324750 @default.
- W3186597166 hasConceptScore W3186597166C17744445 @default.
- W3186597166 hasConceptScore W3186597166C178297102 @default.
- W3186597166 hasConceptScore W3186597166C186027771 @default.
- W3186597166 hasConceptScore W3186597166C199539241 @default.
- W3186597166 hasConceptScore W3186597166C199728807 @default.
- W3186597166 hasConceptScore W3186597166C202093079 @default.
- W3186597166 hasConceptScore W3186597166C2780821815 @default.
- W3186597166 hasConceptScore W3186597166C41008148 @default.
- W3186597166 hasConceptScore W3186597166C556758197 @default.
- W3186597166 hasConceptScore W3186597166C71110296 @default.
- W3186597166 hasConceptScore W3186597166C77088390 @default.
- W3186597166 hasLocation W31865971661 @default.
- W3186597166 hasOpenAccess W3186597166 @default.
- W3186597166 hasPrimaryLocation W31865971661 @default.
- W3186597166 hasRelatedWork W13801552 @default.
- W3186597166 hasRelatedWork W18509591 @default.
- W3186597166 hasRelatedWork W20650567 @default.
- W3186597166 hasRelatedWork W20774857 @default.
- W3186597166 hasRelatedWork W23197696 @default.
- W3186597166 hasRelatedWork W34881893 @default.
- W3186597166 hasRelatedWork W37498774 @default.
- W3186597166 hasRelatedWork W4537471 @default.