Junk Bonds

Junk Bonds : How High Yield Securities Restructured Corporate America

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This is a study of the high yield bond market, popularly called 'junk bonds.' Glenn Yago has studied how companies that use junk bond financing compare in economic performance with their industry averages. This book shows that, contrary to what might be assumed, especially in view of the mixed reputation junk bonds have, the performance of these companies was superior in the vast majority of cases.show more

Product details

  • Hardback | 272 pages
  • 163.1 x 245.6 x 23.4mm | 653.18g
  • Oxford University Press Inc
  • New York, United States
  • English
  • New
  • line illustrations, tables throughout
  • 019506111X
  • 9780195061116

About Glenn Yago

Glenn Yago is Director of the Economic Research Bureau and Associate Professor of Management at the State University of New York at Stony Brook. He has testified before federal and state committees and his articles have appeared in The New York Times, The Wall Street Journal, and many other publications. He is also a director and principal in both a start-up and a turnaround company.show more

Back cover copy

In this book, the author offers the first systematic examination of the facts about high yield securities, providing hard evidence that demystifies junk bonds and explodes many of the popular myths that surround them.show more

Review quote

Three hearty, full-throated cheers for Glenn Yago's book and research. He dispassionately makes a strong case for passion-drenched junk bonds. I've long beleived that high-yield securities were the single most important stimjulus to American economic restructuring in the '80s. yago provides a masterly analysis in defense of such a view. * Tom Peters, author of In Search of Excellence * A clear and insightful view of the revolution that struck corporate America in the 1980s. The author is an academic with his feet planted firmly in the real world. * T. Boone Pickens, Jr. *show more