Private Equity Premium Puzzle Revisited February 2011
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Private Equity Premium Puzzle Revisited February 2011
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Author : Bank of Canada
language : en
Publisher:
Release Date : 2011
Private Equity Premium Puzzle Revisited February 2011 written by Bank of Canada and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The Private Equity Premium Puzzle Revisited
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Author : Katya Kartashova
language : en
Publisher:
Release Date : 2011
The Private Equity Premium Puzzle Revisited written by Katya Kartashova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Stocks categories.
The Private Equity Premium Puzzle
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Author : Tobias Jacob Moskowitz
language : en
Publisher:
Release Date : 2000
The Private Equity Premium Puzzle written by Tobias Jacob Moskowitz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Entrepreneurship categories.
Funding Options For Startups
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Author : K.S.V. Menon & Garima Malik
language : en
Publisher: Notion Press
Release Date : 2016-06-10
Funding Options For Startups written by K.S.V. Menon & Garima Malik and has been published by Notion Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-10 with Business & Economics categories.
This is a pioneering effort to provide in one place, alternative sources of funding, professionally structured business plan and other related aspects of raising start-up funds. Beginning with a detailed analysis of the Startup Ecosystem, the role of Incubators, Mentors & Accelerators (IMA) from the stage of ideation to the actual setting up of a project, principal players in this process like Universities, IITs, IIMs, Indian Business Houses, Multinational Corporations and reputed professionals and intrapreneurs have been identified and listed. Pros and cons of angel finance, seed capital, venture capital, crowdfunding, impact investment, hedge fund, debt fund, private equity, valuation, recent deals & exits, emerging trends and ideas in the startup scenario are some of the areas discussed in detail in the publication. Existing success stories and the government’s thrust on creating India as a hub of startups is drawing many students to entrepreneurship. B-schools and IITs are rolling out enthusiastic professionals, accelerators etc. A unique feature of the publication is a section on case studies, which demonstrate bird’s eye view of their birth pain, how they traversed the thorny path, faced failure after failure, changed their ideas and strategies and finally how they reached their destination successfully.
The Equity Risk Premium A Contextual Literature Review
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Author : Laurence B. Siegel
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2017-12-08
The Equity Risk Premium A Contextual Literature Review written by Laurence B. Siegel and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-08 with Business & Economics categories.
Research into the equity risk premium, often considered the most important number in finance, falls into three broad groupings. First, researchers have measured the margin by which equity total returns have exceeded fixed-income or cash returns over long historical periods and have projected this measure of the equity risk premium into the future. Second, the dividend discount model—or a variant of it, such as an earnings discount model—is used to estimate the future return on an equity index, and the fixed-income or cash yield is then subtracted to arrive at an equity risk premium expectation or forecast. Third, academics have used macroeconomic techniques to estimate what premium investors might rationally require for taking the risk of equities. Current thinking emphasizes the second, or dividend discount, approach and projects an equity risk premium centered on 3½% to 4%.
Heterogeneity And Persistence In Returns To Wealth
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Author : Andreas Fagereng
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-27
Heterogeneity And Persistence In Returns To Wealth written by Andreas Fagereng and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
Private Equity Demystified
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Author : John Gilligan
language : en
Publisher: Oxford University Press
Release Date : 2020-11-04
Private Equity Demystified written by John Gilligan and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-04 with Business & Economics categories.
This book deals with risk capital provided for established firms outside the stock market, private equity, which has grown rapidly over the last three decades, yet is largely poorly understood. Although it has often been criticized in the public mind as being short termist and having adverse consequences for employment, in reality this is far from the case. Here, John Gilligan and Mike Wright dispel some of the biggest myths and misconceptions about private equity. The book provides a unique and authoritative source from a leading practitioner and academic for practitioners, policymakers, and researchers that explains in detail what private equity involves and reviews systematic evidence of what the impact of private equity has been. Written in a highly accessible style, the book takes the reader through what private equity means, the different actors involved, and issues concerning sourcing, checking out, valuing, and structuring deals. The various themes from the systematic academic evidence are highlighted in numerous summary vignettes placed alongside the text that discuss the practical aspects. The main part of the work concludes with an up-to-date discussion by the authors, informed commentators on the key issues in the lively debate about private equity. The book further contains summary tables of the academic research carried out over the past three decades across the private equity landscape including: the returns to investors, economic performance, impact on R&D and employees, and the longevity and life-cycle of private equity backed deals.
Venture Capital And The Finance Of Innovation
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Author : Andrew Metrick
language : en
Publisher: John Wiley and Sons
Release Date : 2011-06-15
Venture Capital And The Finance Of Innovation written by Andrew Metrick and has been published by John Wiley and Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-15 with Business & Economics categories.
This useful guide walks venture capitalists through the principles of finance and the financial models that underlie venture capital decisions. It presents a new unified treatment of investment decision making and mark-to-market valuation. The discussions of risk-return and cost-of-capital calculations have been updated with the latest information. The most current industry data is included to demonstrate large changes in venture capital investments since 1999. The coverage of the real-options methodology has also been streamlined and includes new connections to venture capital valuation. In addition, venture capitalists will find revised information on the reality-check valuation model to allow for greater flexibility in growth assumptions.
The Chicago Plan Revisited
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Author : Mr.Jaromir Benes
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
The Chicago Plan Revisited written by Mr.Jaromir Benes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
The Equity Premium Puzzle
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Author : Rajnish Mehra
language : en
Publisher: Now Publishers Inc
Release Date : 2007-09-27
The Equity Premium Puzzle written by Rajnish Mehra and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-09-27 with Business & Economics categories.
Over two decades ago, Mehra and Prescott (1985) challenged the finance profession with a poser: the historical US equity premium is an order of magnitude greater than can be rationalized in the context of the standard neoclassical paradigm of financial economics. This regularity, dubbed "the equity premium puzzle," has spawned a plethora of research efforts to explain it away. In this review, the author takes a retrospective look at the original paper and explains the conclusion that the equity premium is not a premium for bearing non-diversifiable risk