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, Tobias J
Vissing-Jørgensen, Annette
Format: Journal Article
Language: English
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
ISSN: 0002-8282
1944-7981
EISSN: 1944-7981
Discipline: Economics
Law
Subjects:
Online Access: Fulltext
Database: Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2002
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Database information Databases - DBIS