Private Equity, Asset Allocation and Risk Perception - Entrepreneur Spirit and Asset Allocation From A Risk Perspective

Name: Private Equity, Asset Allocation and Risk Perception - Entrepreneur Spirit and Asset Allocation From A Risk Perspective
Brand: VDM Verlag
SKU: 9783639114966
Price: 249.26 PLN
Availability: InStock

Autor: Xiaoli Wang

Język:

Oprawa: Miękka

Wydawca: VDM Verlag

Dostępność: Na zamówienie

Wysyłamy za 17-27 dni

249.26 zł

Modern finance is based upon investors receiving §greater expected returns from undertaking greater...

Informacje o książce

Autor

Xiaoli Wang

Język

Angielski

Oprawa

Książka - Miękka

Data wydania

2008

strony

140

EAN

9783639114966

ISBN

3639114965

Enbook ID

06820361

Wydawca

VDM Verlag

Waga

195

Wymiary

152 x 229 x 8

Pełny opis

Modern finance is based upon investors receiving §greater expected returns from undertaking greater §risks. However, literature has well documented §entrepreneurs undertake larger risks than their §returns could justify. In this book, a new theory is §developed to explain the above entrepreneurial §risk/return puzzle. In my framework, I argue that §entrepreneurs or people investing in private equity §usually place a higher value on personally held §information or assets under personal control as §compared to general public information and these §beliefs lead them to assess lower risk regarding §such assets. Correspondingly, they require lower §returns as compensation and they tilt their §investments toward such assets. A heterogeneous CAPM §model is thus derived to investigates how the §heterogeneity in the risk perception influences §investors portfolio choices. The model also §provides explanations for other financial puzzles §including size premium puzzle, investors local §bias/home bias puzzle, investor s under-§diversification puzzle, and different §entrepreneurial behavior patterns in different §market regimes, etc.

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