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...
|Place of publication:||
NASHVILLE American Economic Association 01.09.2002
AMER ECONOMIC ASSOC
|published in:||The American economic review Vol. 92; no. 4; pp. 745 - 778|
|Data of publication:||1 September 2002|
|Database:||Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2002
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