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Participants in the Recovery

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0005
Subject:
Economics and Finance, Financial Economics

The previous chapter discussed the factors that triggered the price collapse of the high‐yield market in the USA in 1989 and 1990. This chapter turns to the question of when and how the first movers ... More


Junk Bonds Then and Now

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter first presents a brief history of the high‐yield securities market in the USA since the 1970s. It then discusses the etymology of the term ‘junk bonds’, and goes on to describe critical ... More


Why Capital Structure Matters: The Corporate Finance Revolution

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0008
Subject:
Economics and Finance, Financial Economics

The chapter starts by presenting a brief history of capital structure theory and research. After that it goes on to discuss the corporate finance revolution, which was catalyzed by the rise of the ... More


Beyond Junk Bonds: Expanding High Yield Markets

Glenn Yago and Susanne Trimbath

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.001.0001
Subject:
Economics and Finance, Financial Economics

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 ... More


Where Do We Go from Here?

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0001
Subject:
Economics and Finance, Financial Economics

This short introductory chapter provides a brief analysis of the high‐yield (junk bond) market in the USA in 2001 and 2002, discussing the multitude of influences upon it, including the September 11, ... More


New High Yield Markets

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0006
Subject:
Economics and Finance, Financial Economics

Some of the developing (non‐US) high‐yield markets were briefly mentioned in the previous chapter, but before the development of the non‐US markets for high‐yield bonds is addressed in this chapter, ... More


The End of the Beginning

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0004
Subject:
Economics and Finance, Financial Economics

An account and analysis is given of the largely unanticipated decline of the US high‐yield market in 1989 and 1990, and its subsequent rallying in 1991 and 1992. Structural and cyclical factors ... More


The 1980s Users' Performance in the 1990s

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0009
Subject:
Economics and Finance, Financial Economics

Case studies are presented of five high‐yield US companies and the strategies they have pursued to maximize the value of their assets, labor force, products and markets. The examples show how ... More


Extended Markets and Innovative Extensions

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0007
Subject:
Economics and Finance, Financial Economics

Financial innovation is the engine driving the financial system toward improved performance in the real economy. The conventional view of financial instruments is based upon the categorical ... More


Financing the Future

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0011
Subject:
Economics and Finance, Financial Economics

While this book was being written, the US economy hovered between recession and recovery, and the global economy remained increasingly polarized and endangered by economic stagnation, instability, ... More


Industrial Restructuring

Glenn Yago and Susanne Trimbath

in Beyond Junk Bonds: Expanding High Yield Markets

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195149234
eISBN:
9780199871865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195149238.003.0010
Subject:
Economics and Finance, Financial Economics

This chapter investigates industrial restructuring in the slow‐growing food industry in the USA, asking why an industry with a growth factor of less than 1% flourishes in a world in which companies ... More


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