The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?

We document the return to investing in U.S. nonpublicly traded equity. Entrepreneurial investment is extremely concentrated, yet despite its poor diversification, we find that the returns to private equity are no higher than the returns to public equity. Given the large public equity premium, it is...

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Bibliographic details
Volume: 92
Main Author: Moskowitz T.J
Vissing-Jorgensen A
Format: Journal Article
Language: English
Place of publication: NASHVILLE American Economic Association 01.09.2002
published in: The American economic review Vol. 92; no. 4; pp. 745 - 778
Data of publication: 1 September 2002
ISSN: 0002-8282
EISSN: 1944-7981
Discipline: Economics
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2002
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