The New Financial Capitalists: Kohlberg Kravis Roberts and the Creation of Corporate Value
| Author | : | |
| Rating | : | 4.23 (784 Votes) |
| Asin | : | 0521642604 |
| Format Type | : | paperback |
| Number of Pages | : | 272 Pages |
| Publish Date | : | 2017-01-15 |
| Language | : | English |
DESCRIPTION:
While the authors had some access to financial results and other in-house documents, as well as to personnel, their presentation of the data and interviews with KKR staff often reads like bland restatement of public positions, as in discussions of KKR's much criticized takeover of Safeway, or of Peter Storer's abrupt departure after KKR bought out Storer Communications. Throughout, the book gives a selective but solid history of KKR deals, showing the full 20-year sweep of the firm rather than concentrating on the atypical battles of the late 1980s. Not specific enough for professionals, dramatic enough for casual readers or balanced enough for people in between, it is hard to imagine an audience for this book. . Opponents of KKR and leveraged buyouts are often mentioned only to be dismissed without refutation. Both authors have worked for KKR as consultants since 1994, and have the company's blessing for this corporate biography. Copyright 1998 Reed
Adam said Good primer/introduction to LBOs. If you're relatively new to the subject and want a good primer/introduction to LBOs, as well as some background history on the leveraged buyout and on KKR, this is a good read. It's reasonably quick and easy to read without being too dumbed down. I think that, among others, one group that would really benefit from reading this book are college students (or even MBA students) who are interested in eventually working i. Amazon Customer said Detailed Treatment of early KKR-led LBO Financing. This is an outstanding academic treatment of the investments made by KKR, all of which were some kind of leveraged buy-out. The authors focus their attention on the transactions themselves, not the way they were viewed by society or on the people that put them together - in this regard the book is a rare gem. It treats the period up to 1990 in some depth, with some very interesting case studies that show pretty good . Great insight into leveraged buyouts with in depth and objective commentary Highly detailed, objective and entertaining account of KKR's history. The good, the bad and the ugly. Thoroughly researched. Very credible.
This kind of criticism reached a crescendo in the press and in Congress at the end of the 1980s, and Kohlberg Kravis Roberts found itself in the middle of the controversy. This combination of factors forced managers to concentrate not on growth but rather on how to achieve value through whatever means was most appropriate to the company's circumstances. The firm's approach to leveraged buyouts was an important aspect of the corporate restructuring and governance reforms in the American economy from the mid-1970s through 1990 (the years of what some have called the "leveraged buyout movement"). In examining KKR as a unique form of enterprise--one that subscribes to a set of alternative perspectives on business and value creation--the book bridges the gap between public perception and academic knowledge of how financial innovation impacts economic life. Based on interviews with partners of the firm and on unprecedented access to KKR's records, George P. KKR and other companies fundamentally altered the prevailing perception of the role of debt in the modern American corporation and established an alternative model for organizing and managing corporate enterprises. The authors focus on KKR's founding, evolution, and innovations as ways to understand issues in modern American business. How else could it be? Until recently, journalists, including much of the business press, have depicted LBO specialists as generally greedy, if not