Download or read book Corporate Mergers and High Yield junk Bonds written by and published by . This book was released on 1986 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Junk Bonds written by Glenn Yago and published by Oxford University Press, USA. This book was released on 1991 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The junk bond, the fastest growing financial instrument of the 1980s, as been linked to all that is wrong with Wall Street. But in Junk Bonds, economist Glenn Yago argues that, despite the bad press, these high yield securities are still one of the most efficient and equitable ways for American companies to finance their futures. Yago points out that, before junk bonds, conservative investors like insurance companies, pension funds, and bank trust departments placed their capital primarily in investment-grade securities--and only five percent of the American companies with sales over $35 million qualify to issue investment grade bonds. In effect, ninety-five percent of the nation's mid-sized firms were frozen out of the public debt market. Junk bonds changed all that. In addition, Yago argues that the much-maligned divestitures associated with junk bond-funded buyouts were not necessarily destructive; many sold-off units, he writes, flourished under new management structures. Yago concludes that we have witnessed a fundamental restructuring of corporate America, made possible in part by high yield financing. The result is a bright future as American businesses return to productivity and competitiveness, one that will benefit managers, stockholders, and workers alike.

Download or read book Beyond Junk Bonds written by Glenn Yago and published by Oxford University Press. This book was released on 2003-03-27 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since financial myths exploded in the 1980s, the perspective of time creates a unique opportunity to update and expand the analysis begun in Glenn Yago's 1991 book, Junk Bonds: How High Yield Securities Restructured Corporate America (Oxford University Press). At the time of its publication, Junk Bonds drew controversial responses from the Federal Reserve and government agencies. In retrospect, the evidence clearly casts favorable light on the role of high yield securities. The research presented here demonstrates how financial innovations enabled capital access for industrial restructuring, capital and labor productivity gains, and improved global competitiveness. Enough time has now passed to allow this dispassionate empirical analysis to shear away the hype and hysteria that surrounded the Wall Street scandals, Washington controversies, and media frenzy of the time. Beyond Junk Bonds provides a one-stop data, reference and case study presentation of the firms and securities in the contemporary high yield market and the financial innovations that spurred growth in the nineties and will continue to finance the future. The high yield market incubated successive waves of financial technologies that now proliferate beyond junk bonds to all the dimensions and dynamics of global debt and equity capital markets. It charts the recovery of the market in the 1990s, the recent wave of fallen angels, distressed credits and defaults, and suggests how the high yield market will be recreated in the global market of the 21st century. It explicates the linkages between the high yield market, and other credit and equity markets in managing a firm's capital structure to execute its business strategy. The weakening of the U. S. economy in 2001 and the huge shock to Wall Street from the terrorist attacks of September 11 witnessed a historic increase in the yield to maturity of high yield bonds. Despite the volatility in the flow of funds to high yield mutual funds and occasionally sharp increases in non-investment grade debt yields, the asset class has been one of the best performing fixed income investments of the past decades. In fact, high yield bonds offer an attractive risk-reward ratio competitive with more traditional asset classes. Anyone active in corporate finance, financial institutions and capital markets will find this book a must read for interpreting and understanding the recent history both of the high yield marketplace and its interaction with private equity, public equity, and fixed income markets.

Download or read book Investing in Junk Bonds written by Edward I. Altman and published by Beard Books. This book was released on 2003 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Details the rise and operation of the high yield debt market as illustrated by the "junk" bond.

Download or read book Financial Markets written by United States. General Accounting Office and published by . This book was released on 1988 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment Banking written by Thomas Reicheneder and published by Springer-Verlag. This book was released on 2013-03-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dieses Kapitel soll den Leser in die faszinierende Welt des Investment Banking einführen: Wer sind die Akteure? Was sind deren Aufgaben und Ziele? Wie beeinflussen wirtschaftliche, politische und rechtliche Rah menbedingungen die Tätigkeit der Investment Banker? Welche Institu tionen dominieren und wie ist deren Struktur? Obwohl nun viel über Investment Banker geschrieben wurde, ist man weit davon entfernt, Einigung über den Begriff Investment Banking zu erzielen. Zudem stellt »die Anglisierung des internationalen Investment Banking eine vollkommene Eroberung der Usancen, Termini und Stan dards der weltweiten Financial Community dar. Für einen Kulturkampf wider die Überfremdung der Begriffe ist schon deshalb keine Lanze zu brechen, weil dieser Kampf tatsächlich längst verloren ist. «l Von einer weiteren, den bisherigen Dschungel an Uneinheitlichkeit erweiternden Definition möchte ich daher Abstand nehmen. So ist denn auch die Auf gabe dieses Kapitels, welches sich mit folgenden Aspekten des Investment Banking des näheren auseinandersetzt, wenig beschreibender Natur: ~ Geschäftstätigkeiten der Investment Banker ~ Geschichte der Investmentbanken ~ Organisatorische Grösse und Struktur von Investmentbanken 1. 1. Geschäftstätigkeiten der Investment Banker Manche meinen, eine genaue Begriffsbestimmung erleichtere die Kom munikation; andere behaupten, Definitionen seien der Wahrheitsfindung hinderlich, da oftmals wichtige Aspekte ausgeklammert werden. Schliess lich definiert der Fortgeschrittene um zu kommunizieren, nicht um Wahrheiten zu erforschen. Auf der Suche nach der Wahrheit, gerät man denn auch auf Irrwege: Investment Banking Is What Investment Bankers Do.

Download or read book The New High Yield Bond Market written by Jess Lederman and published by Irwin Professional Publishing. This book was released on 1993 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Mergers Transitioning the American Economy written by Jayson Reeves and published by iUniverse. This book was released on 2012-10-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American economy continues to be driven by corporate mergers, buyouts, and activities in the junk bond market that few people understand. Good and bad business activities have a pronounced effect on all Americans, who are often being harmed by corporations large and small, as well as occasionally the government. Despite the problems we face, the concept of domestic tranquility and prosperity are values that can still be maintained or achieved. Jayson Reeves, an investor, business owner, and industrial engineer has worked with a variety of businesses, considers the complicated relationship between business and government a vital concern. The American transition of buyouts and the junk bond market effect on everyday people is a pivotal fact of resources. In this academic analysis, he focuses on examples of good and bad mergers; corporate raiders and the role they play in business; and ways junk bond markets are affecting the economy. Youll also gain observation about the Securities and Exchange Commission and the role it plays in the economy as well as the role terrorism is playing on international investments. Therefore discover how the economy works and how it can be improved with Corporate Mergers Transitioning the American Economy.

Download or read book Issues Relating to High yield Securities junk Bonds written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on General Oversight and Investigations and published by . This book was released on 1986 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Role of Junk Bonds in Corporate Finance written by Valea Adams and published by GRIN Verlag. This book was released on 2017-01-04 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, The FOM University of Applied Sciences, Hamburg, language: English, abstract: With this paper I would like examine the role of junk bonds in corporate finance. Starting with the term “Corporate Finance” in general, enlarging upon the objectives as well as long term and short term decisions of this field, the assignment continues by defining junk bonds and by giving an insight into the field of so called Fallen Angels. As the expansion of the junk bond market over the last decades has proceeded, I would like to take this occasion to provide background information about the changing role of high-yield bonds during the years. In the last chapter of this paper I will elaborate on the role of junk bonds in corporate finance and as part of the portfolio. Companies in the United States and elsewhere are increasingly turning towards the bond markets as a predominant source of corporate finance referring to changing market conditions. Various reasons such as merger and acquisition activities, capital expenditures, or working capital needs, have contributed to the fact that corporate entities have always needed funds. During the decades, high-yield bonds have survived a dramatic rise and fall in popularity and heated controversy to the limit. The leveraged finance market as a segment of the general credit market, involves issuers, usually considered more risky and with a lower credit ranking than its counterparts, as well as investors, expecting a higher rate on return potential. Investors are attracted to many forms of bonds, but one threat, concerning all leveraged finance investors is that they all have a comparatively high return objective. Many analysts still hold back from the analyst of junk bonds, which can be a result of the bond’s rating that is below the investment grade and therefore known as having very high investment risks. However, the potential rewards of this specific field of credit analysis are worth the time invested. A new emission volume has been pushed by debt financing activities and maintained by high investor demands, looking for yield in the consisting low interest rate environments.

Download or read book High Yield Bonds written by and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The First Junk Bond written by Harlan D. Platt and published by Beard Books. This book was released on 2002 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: A case study of a company that exemplified the 80s.

Download or read book Mergers Acquisitions and Corporate Restructurings written by Patrick A. Gaughan and published by John Wiley & Sons. This book was released on 2015-03-30 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate restructurings are an indispensable tool in building a new generation of re-engineered companies with the power and resources to compete on a global playing field. Written from a practical and historical perspective, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions.

Download or read book Junk Bonds written by Steven M. Rubin and published by . This book was released on 1990 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The High Yield Debt Market written by Edward I. Altman and published by Beard Books. This book was released on 1998 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Junk Bonds written by Jane Tripp Howe and published by Irwin Professional Publishing. This book was released on 1988 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mergers and Acquisitions written by Alan J. Auerbach and published by University of Chicago Press. This book was released on 2008-04-15 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do mergers lead to financial instability? How are shareholders' interests best served? How significant a role do taxes play? What are the implications for the structure and concentration of industry? Mergers and Acquisitions, prepared in an nontechnical format, answers these and other questions that have arisen from the takeover boom that began in the mid-1980s. "A significant piece of scholarship."—Peter Fuhrman, Forbes "Accessible to interested laypersons and policy makers. . . . [A] thoroughly readable and informative book."—Gregg A. Jarrell, Journal of Economic Literature