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【金融高端论坛】第九十一期

时间:2018-05-21 09:29     来源:      点击:

【本期主题】Mutual Fund Investments in Private Firms

Historically a key advantage of being a public firm was broader access to capital, from a disperse group of shareholders. In recent years, such capital has increasingly become available to private firms as well. We document a dramatic increase over the past twenty years in the number of mutual funds participating in private markets and in the dollar value of these private firm investments. On the demand side, the greater availability of capital changes the trade-off between private and public listing status: mutual fund investments enable companies to stay private significantly longer. On the supply side, mutual funds have benefited from these investments in terms of high returns relative to various benchmarks, diversification relative to these same benchmarks, and possibly higher allocations at the time of the IPO.

【报告人】Yiming Qian 副教授(终身聘任),爱荷华大学Tippie商学院金融系

【时 间】5月24日 上午10:00

【地 点】明德主楼509室

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报告人简介:

Yiming Qian,爱荷华大学Tippie商学院金融系副教授(终身聘任)。2002年获美国纽约大学Stern商学院金融学博士学位。从事的研究领域及方向为公司金融,资本市场,和行为金融。曾在Review of Financial Studies,Journal of Financial Economics,Journal of Financial and Quantitative Analysis,Review of Finance,Management Science等顶级金融经济期刊上发表过十多篇论文。

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