Junk bonds: how high yield securities restructured corporate America

Abstract

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.

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