Portfolio Management for Privately-Held Securities: Investment Selection and Performance Measurement
This paper develops a portfolio model for performance measurement and selection of investment securities for which there is no public market: investments such as venture capital investments, private placements, or real estate partnerships. The paper can be used as the basis of research to measure the risk/retum properties of privately-held securities, and such research can be used to develop portfolio measurement tools for these securities.
Volume (Year): 3 (1994)
Issue (Month): 2 (Spring)
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- Ruhnka, John C. & Young, John E., 1991. "Some hypotheses about risk in venture capital investing," Journal of Business Venturing, Elsevier, vol. 6(2), pages 115-133, March.
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