Innovations in Dequity Financing

Overview

During the 1980s, and particularly since the market crash of 1987, corporations and entrepreneurs have been seeking new ways to finance the establishment and growth of new businesses. One of the outcomes of these efforts has been the hybrid security, generically called dequity because it is neither a bond nor a stock. In this work, Andrew Chen and John Kensinger examine the various forms of dequity, describing its characteristics, how it evolved, how it's being used, and what ...

See more details below
Other sellers (Hardcover)
  • All (6) from $65.67   
  • New (4) from $65.67   
  • Used (2) from $136.77   
Sending request ...

Overview

During the 1980s, and particularly since the market crash of 1987, corporations and entrepreneurs have been seeking new ways to finance the establishment and growth of new businesses. One of the outcomes of these efforts has been the hybrid security, generically called dequity because it is neither a bond nor a stock. In this work, Andrew Chen and John Kensinger examine the various forms of dequity, describing its characteristics, how it evolved, how it's being used, and what the future may hold for it.

In looking at the many financial innovations that blended the traits of debt and equity, Chen and Kensinger find three revolutionary changes that took place in the '80s: the use of debt to increase equity ownership by employees; the transfer of control over corporate resources from managers to lenders; and the shift from owning assets indirectly through corporate stock toward direct ownership of production assets by investors. They fully explore the increased specialization of roles that has resulted in employee control of companies, as well as detailing such practical issues as the tax advantage of leveraged ESOP, the value of organizational capital, innovative methods for reducing the cost of going public, and the benefits of R&D limited partnerships. This is the first book to fully analyze the development of dequity, and will be an important reference source for a variety of individuals, including investment bankers, corporate financial executives, institutional investors, and students of finance and banking.

Read More Show Less

Editorial Reviews

Booknews
During the 1980s corporations and entrepreneurs have been seeking new ways to finance the establishment and growth of businesses. One solution has been the hybrid security, generically called "dequity" because it is neither a bond nor a stock. Chen and Kensinger examine the various forms of dequity, describing its characteristics, how it evolved, how it's being used, and what the future may hold for it. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Read More Show Less

Product Details

  • ISBN-13: 9780899304786
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 8/30/1991
  • Pages: 210
  • Lexile: 1570L (what's this?)
  • Product dimensions: 5.50 (w) x 8.50 (h) x 0.50 (d)

Meet the Author

ANDREW H. CHEN is Distinguished Professor of Finance at the Edwin L. Cox School of Business, Southern Methodist University.

JOHN W. KENSINGER is Associate Professor of Finance at North Texas University (Denton).

Read More Show Less

Table of Contents

Preface

Introduction

Dequity: The Restrictions of Debt with the Flexibility of Equity

Equity with a Money-Back Guarantee

Tax-Deductible Equity

Beyond the Tax Effects of Employee Stock Ownership

Project Financing: Limited-Recourse Debt with a Significant Equity Component

Dequity Reflects Changing Relationships Between Managers and Investors

Indexes

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)