Artikel
A simple utility approach to private equity sales
The paper examines the liquidity risk of a private equity firm that decides to dispose of a large holding in its portfolio. As the sale takes time, it requires a careful balancing act of the exposure to the fluctuations in the market value of the investment against the large sale-induced price depression. A mean-standard deviation utility framework is an appealing decision tool for optimizing protracted asset dispositions. The firm maximizes the expected profit from the sale strategy net of the price concession minus a penalty function for exposure to the price risk, with the penalty weight related to a loss confidence interval.
- Sprache
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Englisch
- Erschienen in
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Journal: The Journal of Entrepreneurial Finance (JEF) ; ISSN: 1551-9570 ; Volume: 8 ; Year: 2003 ; Issue: 1 ; Pages: 103-110 ; Montrose, CA: The Academy of Entrepreneurial Finance (AEF)
- Klassifikation
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Management
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dubil, Robert
- Ereignis
-
Veröffentlichung
- (wer)
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The Academy of Entrepreneurial Finance (AEF)
- (wo)
-
Montrose, CA
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Dubil, Robert
- The Academy of Entrepreneurial Finance (AEF)
Entstanden
- 2003
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