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dc.contributor.authorDubil, Roberten
dc.date.accessioned2012-03-15T14:09:39Z-
dc.date.available2012-03-15T14:09:39Z-
dc.date.issued2003-
dc.identifier.citation|aThe Journal of Entrepreneurial Finance (JEF)|c1551-9570|v8|h1|nThe Academy of Entrepreneurial Finance (AEF)|lMontrose, CA|y2003|p103-110en
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
dc.language.isoengen
dc.publisher|aThe Academy of Entrepreneurial Finance (AEF) |cMontrose, CAen
dc.subject.ddc650en
dc.titleA simple utility approach to private equity sales-
dc.typeArticleen
dc.identifier.ppn662476980en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleThe Journal of Entrepreneurial Finance (JEF)en
econstor.citation.issn1551-9570en
econstor.citation.volume8en
econstor.citation.issue1en
econstor.citation.publisherThe Academy of Entrepreneurial Finance (AEF)en
econstor.citation.publisherplaceMontrose, CAen
econstor.citation.year2003en
econstor.citation.startpage103en
econstor.citation.endpage110en

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