Financial Leverage Innovation Management Short-term 
Harvard Business Review
AUGUST 9, 2016
The types of private equity firms and the approaches to managing these firms has evolved over the last 40 years through three general phases. This phase was loosely called leverage buy out (LBO) from about 1979 to 1990 and included over 2,000 LBOs. Leaders were driven by short-term profits and rapid action to flip the organization.
Harvard Business Review
MAY 1, 2017
So, in real terms, debt financing is essentially free. See More Videos > See More Videos > To elaborate, a company’s intrinsic equity value reflects the long-term cash flows that shareholders expect to receive over time, discounted at the appropriate risk-adjusted cost of equity capital.
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