@article{Dubil2003simple,
abstract = {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.},
address = {Academy of Entrepreneurial Finance - AEF},
author = {Robert Dubil},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
issn = {1551-9570},
journal = {Journal of Entrepreneurial Finance, JEF},
keywords = {330},
language = {eng},
number = {1},
pages = {1-8},
publisher = {Montrose, California},
title = {A simple utility approach to private equity sales},
url = {http://hdl.handle.net/10419/55976},
volume = {8},
year = {2003}
}
