U.S. Corporate Leverage: Developments in 1987 and 1988
分析了1987年股市崩盘后美国企业杠杆率上升的现象，包括股票回购和杠杆收购创纪录，以及未涉及所有权变更的企业债务融资增加。
THE YEARS 1987 and 1988 saw some dramatic developments in U.S. financial markets. The 1987 stock market crash was followed in 1988 by intense corporate restructuring activity, including a record volume of stock repurchases and leveraged buyouts.I Meanwhile the use of debt financing by U.S. corporations continued to increase, even among firms not involved in ownership changes or major restructurings.