Apr 23, 2019 11:00am to 12:30pm
1011 Evans Hall
Happening As Scheduled
We study how cross-sectional and temporal variation in valuation practice of private startup holdings by mutual funds affects investors’ access to these pre-IPO firms. Price dispersion across fund families holding the same security averages 10.0%, and is as large as 25% in some quarters. 42% of reported prices are not updated between quarters but large valuation changes occur when startups close...
Speakers: Ayako Yasuda, UC Davis (Speaker - Featured)