Concepedia

Illiquidity Discount

Illiquidity Discount is a valuation adjustment that reflects the reduced marketability and increased holding period risk of private equity investments by quantifying the premium investors demand for the inability to readily sell or transfer their stakes compared to liquid public market counterparts.

45

Publications

3.7K

Citations

69

Authors

74

Institutions

Publications per year

2017–2026

5

Variants

Marketability Discount

Parents

Publications

45

Valuation in Over-the-Counter Markets

Darrell Duffie, Nicolae Gârleanu, Lasse Heje Pedersen · Review of Financial Studies · 2007 · 555 citations · Full text

, , +17

Asset Prices and Trading Volume under Fixed Transactions Costs

Andrew W. Lo, Harry Mamaysky, Jiang Wang · Journal of Political Economy · 2004 · 362 citations

, , +17

Optimal Portfolio Choice and the Valuation of Illiquid Securities

Francis A. Longstaff · Review of Financial Studies · 2001 · 333 citations

, , +17

Discounts on Restricted Stock: The Impact of Illiquidity on Stock Prices

William L. Silber · Financial Analysts Journal · 1991 · 318 citations

, , +17

How Much Can Marketability Affect Security Values?

Francis A. Longstaff · The Journal of Finance · 1995 · 301 citations

, , +17

1–5 of 45

Authors

69

  1. FA
    Francis A. Longstaff

    University of California, Los Angeles, United States

    5 publications · 734 citations

    5

    h-index

  2. AW
    Andrew W. Lo

    Massachusetts Institute of Technology, United States

    3 publications · 499 citations

    3

    h-index

  3. HM
    Harry Mamaysky

    Columbia University, United States

    3 publications · 499 citations

    3

    h-index

  4. JW
    Jiang Wang

    Shanghai University, China

    3 publications · 499 citations

    3

    h-index

  5. AS
    Atulya Sarin

    Santa Clara University, United States

    2 publications · 244 citations

    2

    h-index

1–5 of 69

Institutions

74

  1. National Bureau of Economic Research

    Cambridge, United States

    5 h-index

    7 publications

    2K citations

  2. Drexel University

    Philadelphia, United States

    4 h-index

    4 publications

    244 citations

  3. University of Pennsylvania

    Philadelphia, United States

    3 h-index

    4 publications

    141 citations

  4. Hong Kong Polytechnic University

    Hong Kong, Hong Kong

    3 h-index

    4 publications

    413 citations

  5. University of California, Los Angeles

    Los Angeles, United States

    3 h-index

    3 publications

    373 citations

  6. University of Hong Kong

    Pok Fu Lam, Hong Kong

    2 h-index

    2 publications

    267 citations

  7. University of San Francisco

    San Francisco, United States

    2 h-index

    2 publications

    244 citations

  8. Federal Reserve Board of Governors

    Washington D.C., United States

    2 h-index

    2 publications

    51 citations

1–8 of 74

Venues

  1. SSRN Electronic Journal

    Repository · 10 publications · 461 citations

    10

    h-index

  2. The Journal of Finance

    4 publications · 559 citations

    4

    h-index

  3. Journal of applied corporate finance

    3 publications · 261 citations

    3

    h-index

  4. Review of Financial Studies

    3 publications · 936 citations

    3

    h-index

  5. Journal of Banking & Finance

    3 publications · 266 citations

    3

    h-index

1–5