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446

Эта проблема описана в Sanford J. Grossman and Oliver D. Hart, “Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation,” Bell Journal of Economics 11, no. 1 (1980): 42–64.

447

Connie Bruck, The Predators’ Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders (New York: Penguin Books, 1989), pp. 193–240; Robert J. Cole, “Pantry Pride Revlon Bid Raised by $1.75 a Share,” New York Times, October 19, 1985, accessed March 17, 2015, .

448

Paul Asquith, David W. Mullins Jr., and Eric D. Wolff, “Original Issue High Yield Bonds: Aging Analyses of Defaults, Exchanges and Calls,” Journal of Finance 44, no. 4 (1989): 924.

449

Bruck, The Predators’ Ball, p. 76.

450

Asquith, Mullins, and Wolff, “Original Issue High Yield Bonds,” p. 929, табл. 2: средневзвешенная величина первых четырех цифр в правой колонке.

451

Asquith, Mullins, and Wolff, “Original Issue High Yield Bonds”. Количество успешных сделок по обмену ценных бумаг, которые впоследствии обесценились (16, в табл. 7, с. 935), деленное на количество новых выпусков ценных бумаг (155, в табл. 1, с. 928), – все в период с 1977 по 1980 год.

452

Bruck, The Predators’ Ball, p. 10.

453

Stewart, Den of Thieves, p. 243.

454

Kurt Eichenwald, “Wages Even Wall St. Can’t Stomach,” New York Times, April 3, 1989, утверждал, что Милкен получил наивысшую зарплату за год в американской истории.

455

См., например, Michael C. Jensen, “Takeovers: Their Causes and Consequences,” Journal of Economic Perspectives 2, no. 1 (Winter 1988): 21–48.

456

Обратная сторона монеты обсуждается в Andrei Shleifer and Lawrence H. Summers, “Breach of Trust in Hostile Takeovers,” in Corporate Takeovers: Causes and Consequences, ed. Alan J. Auerbach (Chicago: University of Chicago Press, 1988), pp. 33–68.

457

Brian Hindo and Moira Herbst, “Personal Best Timeline, 1986: ‘Greed Is Good,’ ” BusinessWeek, .

458

Bruck, The Predators’ Ball, p. 320.

459

Bruck, The Predators’ Ball.

460

FDIC v. Milken, pp. 70–71.

461

Alison Leigh Cowan, “F.D.I.C. Backs Deal by Milken,” New York Times, March 10, 1992.

462

See Thomas Piketty, Capital in the TwentyFirst Century (Cambridge, MA: Harvard University Press, 2014), p. 291, fig. 8.5, and p. 292, fig. 8.6.

463

Andrei Shleifer and Robert W. Vishny, “The Takeover Wave of the 1980s,” Science 249, no. 4970 (1990): 745–49.

464

Для 2013 года. World Bank, “Life Expectancy at Birth, Male (Years)” and “Life Expectancy at Birth, Female (Years),” accessed March 29, 2015, and .

465

Ralph Nader, Unsafe at Any Speed: The DesignedIn Dangers of the American Automobile (New York: Grossman, 1965).

466

Jad Mouawad and Christopher Drew, “Airline Industry at Its Safest since the Dawn of the Jet Age,” New York Times, February 11, 2013, .