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The Alpha, Beta, and Consistency of Private Equity Reported Returns: The reported returns of U.S. private equity funds are benchmarked against passive exposures from public equity markets. Over the full sample period, private equity returns display three factors: market beta of less than one, small transaction size and growth, and a four-quarter lag behind public markets. Buyout funds delivered alpha of about 5.5% per annum; venture capital performed poorly. Closer examination reveals that these estimates are inconsistent over time, cautioning against extrapolation from historical averages
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| No. | 권호·제본정보 보기 | 소장처 | 소장사항 | 청구기호 | 구독 | 최근입수호 |
|---|---|---|---|---|---|---|
| 1 | 중앙도서관/3층 외국학술지지원센터/ | 332.041505 J86 | 구독중단 | v.22 no.4 |
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