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Viac informácií o knihe Dodging Bullets

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Anotácia knihy

The late 1980s saw a huge wave of corporate leveraging. The U.S. financial landscape was dominated by a series of high-stakes leveraged buyouts as firms replaced their equity with new fixed debt obligations. Cash-financed acquisitions and defensive share repurchases also decapitalized corporations. This trend culminated in the sensational debt-financed bidding for RJR-Nabisco, the largest leveraged buyout of all time, before dramatically reversing itself in the early 1990s with a rapid return to equity.This entertaining summary of the broad reshaping of U.S. corporate finance in the last decade and a half looks at three major issues: why corporations leveraged up in the first place, why and how the leverage wave came to an end, and what policy lessons are to be drawn.Using the Minsky-Kindleberger model as a framework, the authors interpret the rise and fall of leveraging as a financial market mania. In the course of chronicling the return to equity in the 1990s, they address a number of important corporate finance questions: How important was the return to equity in relieving corporations' debt burdens? How did the return to equity affect the ability of young high-tech firms to finance themselves without selling out to foreign firms?

Parametre knihy

• Celý názov: Dodging Bullets
• Podnázov: Changing U.S. Corporate Capital Structure in the 1980s and 1990s
• Autor: Robert N. McCauley, etc., Judith S. Ruud, Frank Iacono
• Jazyk: Angličtina
• Väzba: Pevná
• Počet strán: 427
• EAN: 9780262133517
• ISBN: 0262133512
• ID: 04561051
• Nakladateľ: MIT Press Ltd
• Hmotnosť: 794 g
• Rozmery: 226 × 160 × 39 mm
• Dátum vydania: 22. November 1999

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