Paper millionaires: how valuable is stock to a stockholder who is restricted from selling it?

Journal of Financial Economics

Volumn 67, Issue 3, 2003, Pages 385-410

  Kahl, Matthias ^a   Liu, Jun ^a   Longstaff, Francis A ^a  

^a UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Illiquidity; Lockup restrictions; Portfolio choice; Restricted stock; Valuation

Indexed keywords

EID: 0037322582     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-405X(02)00258-1     Document Type: Review

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