• Morten Arisson


Equity is the (legal) title on an entrepreneurial undertaking. If entrepreneurial activity is not decidable, when equity analysts unfold their valuation scenarios, they are simply running a tautology, where they demonstrate the consequences of what they have already assumed. The best way to invest in entrepreneurship is to invest in private equity. However, two interventions from government have put private equity at a disadvantage versus public equity: The establishment of limited liability and the criminalization of inside information.


Equity Limited liability Inside information Private equity Public equity Roman law Publicani Uncertainty 


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© The Author(s) 2018

Authors and Affiliations

  • Morten Arisson
    • 1
  1. 1.Credit Portfolio ManagerTorontoCanada

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