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Nos liseuses Vivlio rencontrent actuellement des problèmes de synchronisation. Nous faisons tout notre possible pour résoudre ce problème le plus rapidement possible. Toutes nos excuses pour la gêne occasionnée !
- Retrait gratuit dans votre magasin Club
- 7.000.0000 titres dans notre catalogue
- Payer en toute sécurité
- Toujours un magasin près de chez vous
Dodging Bullets
Changing U.S. Corporate Capital Structure in the 1980s and 1990s
Robert N McCauley, Frank Iacono
11,45 €
+ 22 points
Description
An entertaining summary of the broad reshaping of U.S. corporate finance in the last decade and a half.
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?
Spécifications
Parties prenantes
- Auteur(s) :
- Editeur:
Contenu
- Nombre de pages :
- 427
- Langue:
- Anglais
- Collection :
Caractéristiques
- EAN:
- 9780262133517
- Date de parution :
- 22-11-99
- Format:
- Livre relié
- Format numérique:
- Genaaid
- Dimensions :
- 164 mm x 233 mm
- Poids :
- 807 g
