Dodging bullets: changing U.S. corporate capital structure in the 1980s and 1990s
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge Mass.
MIT Press
©1999
|
| Schlagworte: | |
| Online-Zugang: | FAW01 FAW02 Volltext |
| Beschreibung: | Includes bibliographical references (pages 349-392) and index Annotation 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? |
| Beschreibung: | 1 Online-Ressource (x, 415 pages) |
| ISBN: | 0262133512 058517623X 9780262133517 9780585176239 |
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| 245 | 1 | 0 | |a Dodging bullets |b changing U.S. corporate capital structure in the 1980s and 1990s |c Robert N. McCauley, Judith S. Ruud, and Frank Iacono |
| 264 | 1 | |a Cambridge Mass. |b MIT Press |c ©1999 | |
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| 500 | |a Includes bibliographical references (pages 349-392) and index | ||
| 500 | |a Annotation 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? | ||
| 648 | 7 | |a 1900 - 1999 |2 fast | |
| 648 | 4 | |a Geschichte 1900-2000 | |
| 650 | 4 | |a Corporations / United States / Finance | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Industries / General |2 bisacsh | |
| 650 | 7 | |a Consolidation and merger of corporations |2 fast | |
| 650 | 7 | |a Corporations / Finance |2 fast | |
| 650 | 7 | |a Leveraged buyouts |2 fast | |
| 650 | 4 | |a Geschichte | |
| 650 | 4 | |a Industrie | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Leveraged buyouts |z United States |x History |y 20th century | |
| 650 | 4 | |a Consolidation and merger of corporations |z United States |x History |y 20th century | |
| 650 | 4 | |a Corporations |z United States |x Finance |x History |y 20th century | |
| 651 | 4 | |a USA | |
| 700 | 1 | |a Ruud, Judith S. |e Sonstige |4 oth | |
| 700 | 1 | |a Iacono, Frank |e Sonstige |4 oth | |
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Datensatz im Suchindex
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| author | McCauley, Robert N., (Robert Neil) |
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| author_sort | McCauley, Robert N., (Robert Neil) |
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| dewey-full | 338.8/0973 |
| dewey-hundreds | 300 - Social sciences |
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| discipline | Wirtschaftswissenschaften |
| era | 1900 - 1999 fast Geschichte 1900-2000 |
| era_facet | 1900 - 1999 Geschichte 1900-2000 |
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| spelling | McCauley, Robert N., (Robert Neil) Verfasser aut Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s Robert N. McCauley, Judith S. Ruud, and Frank Iacono Cambridge Mass. MIT Press ©1999 1 Online-Ressource (x, 415 pages) txt rdacontent c rdamedia cr rdacarrier Includes bibliographical references (pages 349-392) and index Annotation 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? 1900 - 1999 fast Geschichte 1900-2000 Corporations / United States / Finance BUSINESS & ECONOMICS / Industries / General bisacsh Consolidation and merger of corporations fast Corporations / Finance fast Leveraged buyouts fast Geschichte Industrie Wirtschaft Leveraged buyouts United States History 20th century Consolidation and merger of corporations United States History 20th century Corporations United States Finance History 20th century USA Ruud, Judith S. Sonstige oth Iacono, Frank Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=19109 Aggregator Volltext |
| spellingShingle | McCauley, Robert N., (Robert Neil) Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s Corporations / United States / Finance BUSINESS & ECONOMICS / Industries / General bisacsh Consolidation and merger of corporations fast Corporations / Finance fast Leveraged buyouts fast Geschichte Industrie Wirtschaft Leveraged buyouts United States History 20th century Consolidation and merger of corporations United States History 20th century Corporations United States Finance History 20th century |
| title | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s |
| title_auth | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s |
| title_exact_search | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s |
| title_full | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s Robert N. McCauley, Judith S. Ruud, and Frank Iacono |
| title_fullStr | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s Robert N. McCauley, Judith S. Ruud, and Frank Iacono |
| title_full_unstemmed | Dodging bullets changing U.S. corporate capital structure in the 1980s and 1990s Robert N. McCauley, Judith S. Ruud, and Frank Iacono |
| title_short | Dodging bullets |
| title_sort | dodging bullets changing u s corporate capital structure in the 1980s and 1990s |
| title_sub | changing U.S. corporate capital structure in the 1980s and 1990s |
| topic | Corporations / United States / Finance BUSINESS & ECONOMICS / Industries / General bisacsh Consolidation and merger of corporations fast Corporations / Finance fast Leveraged buyouts fast Geschichte Industrie Wirtschaft Leveraged buyouts United States History 20th century Consolidation and merger of corporations United States History 20th century Corporations United States Finance History 20th century |
| topic_facet | Corporations / United States / Finance BUSINESS & ECONOMICS / Industries / General Consolidation and merger of corporations Corporations / Finance Leveraged buyouts Geschichte Industrie Wirtschaft Leveraged buyouts United States History 20th century Consolidation and merger of corporations United States History 20th century Corporations United States Finance History 20th century USA |
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