Artikel
Risk-Return Profiles of New Ventures: An Empirical Study
This study examines how risk evolves in private, venture capital backed companies. It finds that the stochastic Ito processes assumed for public companies probably apply to young, private companies as well. However, the parameters, drift rate and standard deviation, are generally higher. Venture capitalists have viewed companies as evolving through stages, and this study assesses the probabilities of success and failure at each stage. The underlying process of price evolution appears much smoother than the stage model may suggest. The valuation mediods developed for public securities, including option pricing, should apply to private companies as well. This study is a step toward measuring the needed parameters.
- Language
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Englisch
- Bibliographic citation
-
Journal: Journal of Small Business Finance ; ISSN: 1057-2287 ; Volume: 2 ; Year: 1993 ; Issue: 2 ; Pages: 87-109 ; Greenwich, CT: JAI Press
- Classification
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Management
New Firms; Startups
Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
- Subject
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Risk-Return
New Venture
Startup
- Event
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Geistige Schöpfung
- (who)
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Keeley, Robert H.
Turki, Lassaad A.
- Event
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Veröffentlichung
- (who)
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JAI Press
- (where)
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Greenwich, CT
- (when)
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1993
- Handle
- Last update
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10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Keeley, Robert H.
- Turki, Lassaad A.
- JAI Press
Time of origin
- 1993
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