Electronic Resource
Springer
Journal of financial services research
3 (1989), S. 33-53
ISSN:
1573-0735
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract The objective of this article is to lay the groundwork for a theory of merchant banking. One of the most significant business events in the last decade is the restructuring of American corporations. Modern merchant banks evolved in response to the new demand. They step in and provide their own capital (equity, bridge loans, and junk bonds) to resolve the magnified financing problem due to the large relative and absolute amount of debt involved. Merchant banks provide strong certification, minimize the costs of obtaining the bundle of services, and, most important, they transform and extend the transactions horizon.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00114077
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