{"product_id":"dodging-bullets-changing-us-corporate-capital-structure-in-the-1980s-and-1990s-0262133512","title":"Dodging Bullets: Changing U.S. Corporate Capital Structure in the 1980s and 1990s","description":"\u003cp\u003e\u003cstrong\u003eISBN:\u003c\/strong\u003e 0262133512\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eAuthor:\u003c\/strong\u003e McCauley, William Rand Kenan Jr University Professor and Director Robert N\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eCondition:\u003c\/strong\u003e New\u003c\/p\u003e\u003cp\u003eAn 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?\u003c\/p\u003e","brand":"Mia Karts","offers":[{"title":"Default Title","offer_id":51936487833888,"sku":"NEW0262133512","price":28.7,"currency_code":"USD","in_stock":false}],"url":"https:\/\/miakarts.com\/products\/dodging-bullets-changing-us-corporate-capital-structure-in-the-1980s-and-1990s-0262133512","provider":"Miakarts Books","version":"1.0","type":"link"}