Little is known about the heterogeneity in investment strategies and success across different investor types. Since investor types, e.g. endowments, insurances or asset managers, differ in their economic role, one may expect them to differ in the way they participate in international investment markets. As investment intermediaries for their clients, they may also be differentially subject to information asymmetries. Shleifer and Vishny (1997) argue that such information asymmetries create limits to arbitrage, which in turn affects portfolio strategies and success from investing. Other differences that could affect investment choices are country-specific legislation, organizational structure, and investment objectives.
KeywordsVenture Capital Private Equity Asset Class Venture Capital Investor Venture Capital Fund
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