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It continues to focus on presenting the current and updated status of the financial services sector in India. All the significant updates (notable policy and operational developments since the publication of its previous edition in 2013) till end-March 2015 have been included in this edition.Book Features:
Refurbished chapter on 'Lease Financing'
Comprehensive new sections like Infrastructure Debt Fund (IDF) Non-Banking Financial Companies (NBFCs) RBI Directions
Important laws and rules in the financial services sector like Health Insurance Regulations, 2013, SEBI regulations etc
Table of Contents:
Part 1: IntroductionNon-Banking Financial Companies
Part 2: Asset/Fund-Based Financial ServicesLease Financing
Hire-Purchase Finance and Consumer Credit
Factoring and Forfaiting
Insurance Services and Products
Venture Capital Financing
Banking Products and Services
Mutual Funds: Services and Products
Part 3: Merchant Banking and Other Fee-Based/Advisory Financial ServicesIssue Management: Intermediaries
Issue Management: Activities/Procedures
Stock Broking, Depositories, Custodial Services and Short Selling and Securities Lending and Borrowing Scheme
A widespread misunderstanding concerning leveraged buyouts (LBOs) is the belief that they accomplish little but the ruin of companies and the loss of employment. How else could it be? Until recently, journalists, including much of the business press, have depicted LBO specialists as generally greedy, if not sinister, forces whose activities compound the dislocations of modern American economic and social life. 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. Based on interviews with partners of the firm and on unprecedented access to KKR's records, George P. Baker and George David Smith have written a definitive account of how KKR has approached LBOs in a book that will appeal to the specialist and general reader alike. The authors focus on KKR's founding, evolution, and innovations as ways to understand issues in modern American business. 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. 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"). 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. KKR financed the companies it acquired with high levels of debt, while linking their ownership to management. It then imposed rigorous monitoring by the board of directors over the companies in its portfolio. 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 purpose of the leveraged buyout was to realize, or "create," value in companies by reforming their management systems. KKR's approach to restructuring the relationship between owners and managers in a highly leveraged firm rested on a basic principle: Make managers owners by making them invest a significant share of their personal wealth in the enterprises they manage, and they will have stronger incentives to act in the best interests of all shareholders.
The New Manager's Guide and Mentor "The Harvard Business Essentials" series is designed to provide comprehensive advice, personal coaching, background information, and guidance on the most relevant topics in business. Whether you are a new manager seeking to expand your skills or a seasoned professional looking to broaden your knowledge base, these solution-oriented books put reliable answers at your fingertips. Decision making is a critical part of management, and bad choices can damage careers and the bottom line. This book offers the tools and advice managers need to avoid common biases and arrive at and implement decisions that are both sound and ethical.