Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/114649 
Erscheinungsjahr: 
1993
Quellenangabe: 
[Journal:] Journal of Small Business Finance [ISSN:] 1057-2287 [Volume:] 2 [Issue:] 2 [Publisher:] JAI Press [Place:] Greenwich, CT [Year:] 1993 [Pages:] 87-109
Verlag: 
JAI Press, Greenwich, CT
Zusammenfassung: 
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.
Schlagwörter: 
Risk-Return
New Venture
Startup
JEL: 
M13
G24
Dokumentart: 
Article

Datei(en):
Datei
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