… Not surprisingly, sales of thinly traded assets typically occur at prices far lower than would
… The valuation of thinly traded assets is one of the most important unresolved issues in asset …

… as a model asset for our study. We argue that real estate, and thinly traded assets in general,
… Such an integrated risk metric reveals that the valuation of the thinly traded private asset is …

… traded securities market to the thinly traded real estate market. This implies a rather ironic
reality-the valuation of the illiquid asset … analytical tool for illiquid asset pricing and enables …

… Assets in thinly traded markets, such as certain OTC markets, can be subject to significant
deviations of realized prices from fundamentals. As Brunnermeier and Pedersen 2008 argue, …

… There is no widely accepted definition of “thinly traded” and for the purposes of this study
thinly traded was determined to be a low average daily trade volume between 5 and 200 trades…

This study is an application of the bounding methodology in the evaluation of option pricing
on Canadian financial markets. Options are evaluated on the basis of their return distribution, …

… Using data from the CMBS market, we find that cash flows are informative in valuing these
thinly traded assets. Predicted yields resemble transaction yields and outperform yields based …

… a large market of thinly traded assets. By … trading immediacy and valuation for thinly traded
assets. Specifically, we find that the improvement in firm visibility can increase firm valuation …

Pseudo-market prices of infrequently traded assets with scheduled cash flows – commercial
real estate appraisals and matrix prices of commercial mortgage backed securities – are …