Papers presented at a conference held at the Leonard N. Stern School of Business, New York University, on May 20, 1988, and sponsored by the Salomon Brothers Center for the Study of Financial Institutions. The 1989 edition of this proceedings volume was published by Dow-Jones-Irwin. Academics, legislators, and practitioners explore the phenomenon of a company's management buying it, and possible divergence of interests between the buyers and other stockholders. They consider the effects of such buyouts on a company's performance, unique tax considerations, legal issues, and regulatory concerns.