Browsing NHH Brage by Author "McPherson, Bjørn Erik"
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Does the choice of performance measure shape the appraisal of private equity funds?
Kjellberg, Espen; McPherson, Bjørn Erik (Master thesis, 2009)Conducting an empirical study on cash flows of 71 private equity funds, spanning the vintages 1990 to 2008, we compare the two most common performance measures, IRR and TVPI, to four proposed alternatives. We also document ...