To contribute to the ongoing debate about private markets “illiquidity premium”, this paper proposes a new approach to liquidity as a dimension of private equity investing, along with risk and return.
Along those lines, the liquidity risk associated with private equity lies in the variation of holding periods over time.
We envisage publishing the Special Issue in late 2019 or early 2020.
Depending on the reception this issue receives and its subsequent success, the current plan is to publish one such issue each year.
The Nature Index tracks the world's best natural science research.
In 2015, the researchers contributing to a large chunk of that research hailed from five countries, the United States, China, Germany, the United Kingdom and Japan.Browse our extensive collection of leading industry research.Learn more about the latest trends and global performance through our various series of research reports covering a wide range of key topics.It also measures the contribution of researchers to articles, by a metric called weighted fractional count (WFC), which divides credit for each article by the affiliations of contributing authors.This measure is weighted to account for the disproportionate number of astronomy articles in the index. United States WFC: 17203.82; AC: 26639 When it comes to publishing in the world’s leading scientific journals, the United States is in a league of its own.To assess this risk, an equivalent to holding periods can be approached by calculating an average time-to-liquidity, which is a function of multiples and IRRs.Thanks to the high quality of the data provided by e Front Insight, it is possible to evaluate the average time-exposure of investors and estimate the variations around this average.Since 2012, every paper published in 68 top-tier journals has been included in the Nature Index database.The index tallies the number of articles (AC) published by universities and research institutions, and by extension, reveals the output of cities and countries.Given the central role that measurement plays in our science, it is rather odd that it is often difficult to publish research designed to evaluate the validity of a measure.That is, although we need to be able to evaluate the evidence in support of the validity of a measure, that evidence is often hard to find because such information is often difficult to publish in our best journals.