Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/29639
Full metadata record
DC FieldValueLanguage
dc.contributor.authorMüller, Elisabethen_US
dc.date.accessioned2010-01-25en_US
dc.date.accessioned2010-01-26T15:46:40Z-
dc.date.available2010-01-26T15:46:40Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29639-
dc.description.abstractOwners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to idiosyncratic risk is measured as the share of the owner’s net worth invested in the company. Equity returns are measured as the earnings rate and as capital gains. For both returns measures we find a positive and significant influence of exposure to idiosyncratic risk. This paper improves our understanding of returns to private equity.en_US
dc.language.isoengen_US
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen_US
dc.relation.ispartofseries|aZEW Discussion Papers |x04-29 [rev.3]en_US
dc.relation.isversionofhttp://hdl.handle.net/10419/24054-
dc.subject.jelG32en_US
dc.subject.jelG11en_US
dc.subject.jelL26en_US
dc.subject.ddc330en_US
dc.subject.keywordreturns to private equityen_US
dc.subject.keywordexposure to idiosyncratic risken_US
dc.subject.keywordprivate companiesen_US
dc.subject.stwKlein- und Mittelunternehmenen_US
dc.subject.stwUnternehmeren_US
dc.subject.stwInvestitionen_US
dc.subject.stwPortfolio-Managementen_US
dc.subject.stwRentabilitäten_US
dc.subject.stwÖkonomischer Anreizen_US
dc.subject.stwSchätzungen_US
dc.subject.stwUSAen_US
dc.titleReturns to private equity: idiosyncratic risk does matter!en_US
dc.type|aWorking Paperen_US
dc.identifier.ppn617048118en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:0429r3-

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.