Restructuring the Hold

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119635187
Total Pages : 368 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis Restructuring the Hold by : Thomas C. Anderson

Download or read book Restructuring the Hold written by Thomas C. Anderson and published by John Wiley & Sons. This book was released on 2020-12-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing an effective partnership and achieving improved outcomes for investors and management teams during the hold cycle Private equity represents a productive and fast-growing asset class—building businesses, creating jobs, and providing unlimited opportunity for investors and management teams alike, particularly if they know how to work together in candid and effective partnerships. Restructuring the Hold demonstrates how investors and managers can best work together to optimize company performance and the associated rewards and opportunities for everyone, not just the investors. Through brief references to the parable of the Gramm Company, a middle market portfolio company, readers will follow the disappointments and triumphs of a management team experiencing their first hold period under private equity ownership, from the day they get purchased through the day they get sold. Restructuring the Hold provides the reader both general knowledge and more detailed better practices and frameworks relating to specific time periods during the hold. Within this book readers will find: An examination of a typical middle-market private equity hold period Guidance for newly acquired management teams on what to expect during the hold period Descriptions of better practice operating cadence between investors and management teams Examples of effective partnerships between investors and management teams Discussions of topics relevant to typical hold periods, including organizational structures, operations improvement, selling pipelines and acquisition integrations With guidance from Restructuring the Hold, private equity principals and portfolio company executives can take steps toward greater collaboration and better outcomes. Through updated practices and strong relationships, they can partner effectively to improve portfolio company performance, which will lead to better outcomes for both investors and management teams.

Restructuring the Hold

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119635217
Total Pages : 368 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis Restructuring the Hold by : Thomas C. Anderson

Download or read book Restructuring the Hold written by Thomas C. Anderson and published by John Wiley & Sons. This book was released on 2020-10-28 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing an effective partnership and achieving improved outcomes for investors and management teams during the hold cycle Private equity represents a productive and fast-growing asset class—building businesses, creating jobs, and providing unlimited opportunity for investors and management teams alike, particularly if they know how to work together in candid and effective partnerships. Restructuring the Hold demonstrates how investors and managers can best work together to optimize company performance and the associated rewards and opportunities for everyone, not just the investors. Through brief references to the parable of the Gramm Company, a middle market portfolio company, readers will follow the disappointments and triumphs of a management team experiencing their first hold period under private equity ownership, from the day they get purchased through the day they get sold. Restructuring the Hold provides the reader both general knowledge and more detailed better practices and frameworks relating to specific time periods during the hold. Within this book readers will find: An examination of a typical middle-market private equity hold period Guidance for newly acquired management teams on what to expect during the hold period Descriptions of better practice operating cadence between investors and management teams Examples of effective partnerships between investors and management teams Discussions of topics relevant to typical hold periods, including organizational structures, operations improvement, selling pipelines and acquisition integrations With guidance from Restructuring the Hold, private equity principals and portfolio company executives can take steps toward greater collaboration and better outcomes. Through updated practices and strong relationships, they can partner effectively to improve portfolio company performance, which will lead to better outcomes for both investors and management teams.

Intercreditor Equity in Sovereign Debt Restructuring

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Author :
Publisher : Oxford University Press
ISBN 13 : 0192692429
Total Pages : 273 pages
Book Rating : 4.1/5 (926 download)

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Book Synopsis Intercreditor Equity in Sovereign Debt Restructuring by : Astrid Iversen

Download or read book Intercreditor Equity in Sovereign Debt Restructuring written by Astrid Iversen and published by Oxford University Press. This book was released on 2023-03-07 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question of intercreditor equity is one of the most contentious issues in debt restructuring, both historically and today. Intercreditor Equity in Sovereign Debt Restructuring maps and establishes the content of these intercreditor equity rules, and analyses how they influence the restructuring process. Through this analysis, Astrid Iversen outlines how creditors can predict their legal rights in the unfortunate event of a debt restructuring and strives to improve our understanding of the boundaries within which a debt restructuring offer must be designed. Iversen also seeks to shed light on the functioning of the legal framework governing sovereign debt more broadly. In this book, she examines whether intercreditor equity rules and the legal framework of sovereign debt are compatible with a debtor state's responsibility to ensure monetary and financial stability and to establish sustainable debt burdens. Iversen also explores how certain intercreditor equity rules constitute an obstacle to sustainable debt restructurings and highlights how the number of different intercreditor equity rules that a sovereign debtor state typically is bound by, as well as the scope of these rules, risk tightening the policy space of debtor states to the extent that it is difficult to design and implement a sustainable debt restructuring. Suitable as an introductory text for readers new to the topic of sovereign debt restructurings, and as an instructive guide for debt management offices, creditors, and their lawyers, this publication provides a comprehensive legal study of intercreditor equity rules in sovereign debt restructuring.

A Debt Restructuring Mechanism for Sovereigns

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Author :
Publisher : Bloomsbury Publishing
ISBN 13 : 1849468214
Total Pages : 304 pages
Book Rating : 4.8/5 (494 download)

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Book Synopsis A Debt Restructuring Mechanism for Sovereigns by : Christoph G Paulus

Download or read book A Debt Restructuring Mechanism for Sovereigns written by Christoph G Paulus and published by Bloomsbury Publishing. This book was released on 2014-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eurozone crisis which started in spring 2010 as a Greek budget crisis has alerted Europeans that the issue of defaulting sovereigns is not one reserved just for the poor and poorest countries on this globe. The crisis painfully amplified that developed countries, too, might be hit by this phenomenon. To be sure, this insight is far from novel - the history of defaulting states reaches back into history for at least two millennia. And yet, lawyers have surprisingly abstained more or less completely from discussing this subject and developing possible solutions. Beginning with the Argentina crisis in 2001, this neglect began to vanish to a certain degree and this movement got some momentum in 2010 by the Eurozone crisis. The present book collects contributions from authors most of whom have participated in a conference on this issue in January 2012 at the Humboldt-Universität zu Berlin. The presentations, thus, provide a unique overview of the present discussion both from an economic and legal perspective.

Voucher Privatization with Investment Funds

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4./5 ( download)

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Book Synopsis Voucher Privatization with Investment Funds by : David P. Ellerman

Download or read book Voucher Privatization with Investment Funds written by David P. Ellerman and published by World Bank Publications. This book was released on 1998 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: May 1998 The most likely outcome of the strategy of voucher privatization with investment funds may be a two-sided grab fest by fund managers and enterprise managers-along with drift, stagnation, and decapitalization of the privatized industrial sector. Common wisdom among post-socialist reformers has been to use voucher investment funds to provide the corporate governance needed to restructure newly privatized enterprises after mass privatization efforts. The idea has been that mass privatization would spread the ownership too wide and make corporate governance difficult. Ellerman examines the likely institutional behavior of voucher funds and the possible effects of their development on a transition economy. Since most policy advice has been in favor of voucher privatization with investment finds, Ellerman can be seen as playing the devil's advocate, but his argument is institutional, not statistical. Policymaking requires insight and foresight into how institutions will tend to function. He concludes that voucher funds will introduce a bias in the economy away from the real industrial sector toward an ersatz financial sector that will have little if any positive financial role but will be well-protected by friendly regulators. One long-term consequence of voucher privatization with investment funds, according to this view, is a de facto industrial policy of real sector decapitalization in favor of short-term rent-seeking by fund managers through board sinecures and lucrative side deals with portfolio companies and through financial market manipulation and paper entrepreneurship in the financial sector. Without strong corporate governance from the funds and without stable ownership of their own, many enterprise managers will exploit the post-socialist version of the separation of ownership and control to grab what they can in the form of salaries, bonuses, perquisites, and side deals. The most likely results of the strategy of voucher privatization with investment funds may be a two-sided grab fest by fund managers and enterprise managers-together with the accompanying drift, stagnation, and decapitalization of the privatized industrial sector. This paper-a product of the Office of the Senior Vice President, Development Economics-is part of a larger effort in the Bank to define policymaking using institutional analysis. The author may be contacted at [email protected].

Creating Value Through Corporate Restructuring

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470503521
Total Pages : 852 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Creating Value Through Corporate Restructuring by : Stuart C. Gilson

Download or read book Creating Value Through Corporate Restructuring written by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2010-04-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.

Corporate Financial Distress, Restructuring, and Bankruptcy

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119481856
Total Pages : 374 pages
Book Rating : 4.1/5 (194 download)

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Book Synopsis Corporate Financial Distress, Restructuring, and Bankruptcy by : Edward I. Altman

Download or read book Corporate Financial Distress, Restructuring, and Bankruptcy written by Edward I. Altman and published by John Wiley & Sons. This book was released on 2019-02-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.

The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498329136
Total Pages : 36 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims by : International Monetary Fund. Legal Dept.

Download or read book The Restructuring of Sovereign Debt - Assessing the Benefits, Risks, and Feasibility of Aggregating Claims written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2003-04-09 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Privatization and Restructuring

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451852487
Total Pages : 20 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Privatization and Restructuring by : Mr.Dieter Bös

Download or read book Privatization and Restructuring written by Mr.Dieter Bös and published by International Monetary Fund. This book was released on 1996-09-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that restructuring is not efficient, and there is underinvestment. We consider, restructuring by the private buyer of the firm, by a government privatization agency, and by both. In the first two cases—one-sided restructuring—a first best can be achieved. In the case of both-sided restructuring, however, the first best cannot be reached if both parties engage in restructuring after signing the contract.

Corporate Restructuring

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Publisher : World Bank Publications
ISBN 13 : 0821359282
Total Pages : 436 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Corporate Restructuring by : Michael Pomerleano

Download or read book Corporate Restructuring written by Michael Pomerleano and published by World Bank Publications. This book was released on 2005 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the periodic financial crises of the late 1990s, there has been a growing recognition of the need for a strategy to avoid and mitigate the severity of crises in the corporate sector, requiring the complementary efforts of policymakers, regulators, lawyers, insolvency experts and financiers. This publication examines the issue of corporate restructuring, drawing on case studies of corporate crises in Indonesia, Korea, Malaysia and Thailand among others; and discusses a range of topics including the key role of governments in securing an enabling legal system, effective out-of-court workouts, supportive tax regimes, policy and regulatory initiatives to address systemic corporate problems.

Regulatory Restructuring

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Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Regulatory Restructuring by : United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology

Download or read book Regulatory Restructuring written by United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology and published by . This book was released on 2009 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Research Handbook on Corporate Restructuring

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1786437473
Total Pages : 584 pages
Book Rating : 4.7/5 (864 download)

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Book Synopsis Research Handbook on Corporate Restructuring by : Omar, Paul J.

Download or read book Research Handbook on Corporate Restructuring written by Omar, Paul J. and published by Edward Elgar Publishing. This book was released on 2021-08-27 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely Research Handbook examines the increasingly economically vital topic of corporate restructuring. Reflecting a shift in the global approach to insolvency towards a focus on rescuing viable businesses rather than liquidation, chapters consider all areas of the law closely connected to corporate insolvency, rehabilitation and rescue, as well as the introduction of the EU Preventive Restructuring Directive and other reforms from around the world.

Accountants' Handbook, 2009 Cumulative Supplement

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Publisher : John Wiley & Sons
ISBN 13 : 0470286539
Total Pages : 354 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Accountants' Handbook, 2009 Cumulative Supplement by : D. R. Carmichael

Download or read book Accountants' Handbook, 2009 Cumulative Supplement written by D. R. Carmichael and published by John Wiley & Sons. This book was released on 2009-03-09 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accountants continue to find it difficult to keep abreast of the flood of issuances by FASB and AICPA, as well as the numerous interpretations and bulletins issued to explain them. Accountants' Handbook, Eleventh Edition, 2009 Cumulative Supplement has the longest tradition of providing comprehensive coverage to accounting professionals. It provides quick, understandable, and thorough exposure to complex accounting-related subjects. As well, it demystifies the complexity of accounting principles and the practice that dominates the accounting industry increases. For accountants, CFOs, controllers.

Professional Knowledge and Educational Restructuring in Europe

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Publisher : Springer Science & Business Media
ISBN 13 : 9460913792
Total Pages : 119 pages
Book Rating : 4.4/5 (69 download)

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Book Synopsis Professional Knowledge and Educational Restructuring in Europe by : I.F. Goodson

Download or read book Professional Knowledge and Educational Restructuring in Europe written by I.F. Goodson and published by Springer Science & Business Media. This book was released on 2011-07-23 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: European welfare institutions such as education and health care are restructuring their organisations in terms of decentralisation, deregulation, privatization and so forth. As a consequence professional positions and demands on professional competencies in these institutions are in transition. At the same time European societies are changing in different ways, e.g. in terms of a "knowledge society" as well as in demographic and cultural changes. Professionals such as teachers and nurses are meeting such changes in their work with students and clients.Thus, there is a need to study these transitions and changes. Here we are doing this from a "bottom-up" perspective where we are comparing experiences in different institutional and national contexts. This study combines two kinds of narrative research; a study of the systemic narratives produced by governments who are restructuring educational systems and the life history narratives of those professionals working within those systems and their perspectives on ongoing restructuring.

Economic Restructuring and Family Well-being in Rural America

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Author :
Publisher : Penn State Press
ISBN 13 : 0271048611
Total Pages : 414 pages
Book Rating : 4.2/5 (71 download)

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Book Synopsis Economic Restructuring and Family Well-being in Rural America by : Kristin E. Smith

Download or read book Economic Restructuring and Family Well-being in Rural America written by Kristin E. Smith and published by Penn State Press. This book was released on 2011 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A compilation of policy-relevant research by a multidisciplinary group of scholars on the state of families in rural America in the twenty-first century. Examines the impact of economic restructuring on rural Americans and provides policy recommendations for addressing the challenges they face"--Provided by publisher.

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484333756
Total Pages : 42 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Macroeconomic Effects of Sovereign Restructuring in a Monetary Union by : Lorenzo Forni

Download or read book Macroeconomic Effects of Sovereign Restructuring in a Monetary Union written by Lorenzo Forni and published by International Monetary Fund. This book was released on 2013-12-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents and by agents in the rest of the monetary union. Second, after the restructuring the sovereign borrowing rate increases and its increase is fully transmitted to the borrowing rate paid by the domestic agents. Third, the government cannot discriminate between domestic and foreign agents when restructuring. We show that the macroeconomic effects of the restructuring depend on: (a) the share of sovereign bonds held by residents in the country as compared to that held by foreign residents, (b) the increase in the spread paid by domestic agents and (c) its net foreign asset position at the moment of the restructuring. Our results also suggest that the sovereign restructuring implies persistent reductions of output, consumption and investment, that can be large, in particular if the share of public debt held domestically is large, the private foreign debt is high and the spread paid by the government and the households does increase.

White Collar Blues

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Publisher :
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis White Collar Blues by : Charles C. Heckscher

Download or read book White Collar Blues written by Charles C. Heckscher and published by . This book was released on 1995-03-10 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Charles Heckscher interviewed over 250 middle managers from a wide array of firms, including Honeywell, General Motors, Pitney-Bowes, Dow Chemical, Figgie International, Du Pont, and AT&T. To his surprise, he discovered that, in most cases, managers remained loyal to their firms even after substantial downsizing and, in some instances, brutal layoffs. Yet this loyalty helped neither the managers, who felt increasingly bewildered by changes that made no sense, nor the companies, which, in trying to preserve loyalty, found themselves increasingly avoiding harsh realities." "Heckscher points out that for more than half a century, large corporations have struck a bargain with their managers: near-total lifetime security in exchange for near-total subordination of individuals to the corporate will. That bargain, which Heckscher characterizes as paternalistic, has provided comfort to managers and stability to bureaucratic organizations. Most managers would still like to hold on to it." "But, according to Heckscher, the more successful companies are moving beyond the paternalistic exchange. He found four organizations that have transformed the old ethic of loyalty into a "professional ethic" - a new form of community built around a shared purpose and mission. Heckscher suggests that this shift, if it is to spread beyond a few hothouse examples, must be supported by fundamental changes in corporate management, government policies, and social institutions - changes as deep as those that accompanied the rise of corporate bureaucracy early in the century." "White-Collar Blues offers companies guidelines for managing change and for making the new corporate culture benefit not only the corporation but also its workers. The book also tells how individuals can prepare themselves for the new realities in the workplace and maximize their chances for success, given the certainty of uncertainty."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved