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dc.contributor.authorDubil, Roberten_US
dc.date.accessioned2012-03-15T14:09:39Z-
dc.date.available2012-03-15T14:09:39Z-
dc.date.issued2003en_US
dc.identifier.citationJournal of Entrepreneurial Finance, JEF 1551-9570 8 2003 1 1-8en_US
dc.identifier.urihttp://hdl.handle.net/10419/55976-
dc.description.abstractThe 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.en_US
dc.language.isoengen_US
dc.publisherMontrose, California Academy of Entrepreneurial Finance - AEFen_US
dc.subject.ddc330en_US
dc.titleA simple utility approach to private equity salesen_US
dc.typeArticleen_US
dc.identifier.ppn662476980en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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