Year: 2003
Type: preprint
Abstract: In this paper we build an index of value for venture capital. Our approach overcomes the problems of intermittent, infrequent pricing of private company deals by using a repeat valuation model to build the index, and it corrects for selection bias in the reporting of values. We use a unique data set from Sand Hill Econometrics. The index measures the return and risk for venture capital. In addition, its covariance with other asset classes from 1987 through 1999 enables us to explore the role of venture capital in diversified portfolios.
Authors: John M. Quigley, Susan E. Woodward
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1504299922