Competition in the Investment Banking Industry PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Competition in the Investment Banking Industry PDF full book. Access full book title Competition in the Investment Banking Industry by Samuel L. Hayes. Download full books in PDF and EPUB format.
Author: Samuel L. Hayes
Publisher: Harvard University Press
ISBN: 9780674154155
Category : Business & Economics
Languages : en
Pages : 204
Get Book
Book Description
Investment banks play a critically important role in channeling capital from investors to corporations. Not only do they float and distribute new corporate securities, they also assist companies in the private placement of securities, arrange mergers and acquisitions, devise specialized financing, and provide other corporate financial services. After sketching the history and evolution of investment banking, the authors describe the structure of the industry, focusing on the competitive forces at work within it today. They explore patterns of concentration and analyze the strategic and economic factors that underlie those patterns. The authors directly examine the pairing up of investment banks with their corporate clients. They show that the market is sharply segmented, with banks and corporate clients being matched in roughly rank order, the most prestigious banks with the largest, most powerful clients, and so on. Vigorous competition occurs within each segment, but much less between them. With the industry now confronting a changing regulatory environment, a growing tendency of clients to arrange their own financing, and increasing competition both from within and from commercial banks and foreign institutions, Competition in the Investment Banking Industry is essential reading for anyone interested in the future of investment banking.
Author: Samuel L. Hayes
Publisher: Harvard University Press
ISBN: 9780674154155
Category : Business & Economics
Languages : en
Pages : 204
Get Book
Book Description
Investment banks play a critically important role in channeling capital from investors to corporations. Not only do they float and distribute new corporate securities, they also assist companies in the private placement of securities, arrange mergers and acquisitions, devise specialized financing, and provide other corporate financial services. After sketching the history and evolution of investment banking, the authors describe the structure of the industry, focusing on the competitive forces at work within it today. They explore patterns of concentration and analyze the strategic and economic factors that underlie those patterns. The authors directly examine the pairing up of investment banks with their corporate clients. They show that the market is sharply segmented, with banks and corporate clients being matched in roughly rank order, the most prestigious banks with the largest, most powerful clients, and so on. Vigorous competition occurs within each segment, but much less between them. With the industry now confronting a changing regulatory environment, a growing tendency of clients to arrange their own financing, and increasing competition both from within and from commercial banks and foreign institutions, Competition in the Investment Banking Industry is essential reading for anyone interested in the future of investment banking.
Author: Samuel L. Hayes
Publisher:
ISBN: 9780674787452
Category : Investment banking
Languages : en
Pages : 177
Get Book
Book Description
Author: Jacob A. Bikker
Publisher: Edward Elgar Publishing
ISBN: 1785363301
Category :
Languages : en
Pages : 424
Get Book
Book Description
For academics, regulators and policymaker alike, it is crucial to measure financial sector competition by means of reliable, well-established methods. However, this is easier said than done. The goal of this Handbook is to provide a collection of state-of-the-art chapters to address this issue. The book consists of four parts, the first of which discusses the characteristics of various measures of financial sector competition. The second part includes several empirical studies on the level of, and trends in, competition across countries. The third part deals with the spillovers of market power to other sectors and the economy as a whole. Finally, the fourth part considers competition in banking submarkets and subsectors.
Author: Alan D. Morrison
Publisher: OUP Oxford
ISBN: 0191647845
Category : Business & Economics
Languages : en
Pages : 362
Get Book
Book Description
Investment Banking: Institutions, Politics, and Law provides an economic rationale for the dominant role of investment banks in the capital markets, and uses it to explain both the historical evolution of the investment banking industry and also recent changes to its organization. Although investment decisions rely upon price-relevant information, it is impossible to establish property rights over it and hence is very hard to coordinate its exchange. The authors argue that investment banks help to resolve this problem by managing "information marketplaces," within which extra-legal institutions support the production and dissemination of information that is important to investors. Reputations and relationships are more important in fulfilling this role than financial capital. The authors substantiate their theory with reference to the industry's evolution during the last three centuries. They show how investment banking networks were formed, and identify the informal contracts that they supported. This historical development points to tensions between the relational contracting of investment banks and the regulatory impulses of the State, thus providing some explanation for the periodic large-scale State intervention in the operation of capital markets. Their theory also provides a technological explanation for the massive restructuring of the capital markets in recent decades, which the authors argue can be used to think about the likely future direction of the investment banking industry.
Author: Eric Michaels
Publisher:
ISBN: 9781676314776
Category :
Languages : en
Pages : 38
Get Book
Book Description
Investment bank careers are lucrative and highly competitive fields that many people want to get into. The arena is teeming with careers in specialized fields that are definitely very rewarding. The exponential increase of people who have switched to investment bank careers speaks of its huge rewards. Talk about pay scales, simply irresistible. The banking industry landscape is highly diversified and has lots of rooms for newcomers who would want to carve their niches in the field. The banking industry has a myriad of services related to finance. From capital-raising, to buyouts, mergers and acquisitions, to the management of investment portfolios of private individuals and businesses, there is a shortage of people to perform these diversified banking services. The demand for highly competitive professionals is also fueled by the recent financial market conditions affected by global economic conditions. The competition for investment bank careers remain stiff and intense, but lucrative. In this book, you'll discover: What You Need to Know Before Becoming an Investment Banker Why An Investment Banking Education Is Important What They Won't Tell You About Investment Banking Salaries How to Land Investment Banking Jobs And much more Grab a copy of Investment Banking Career today!
Author: A. O'Connor
Publisher: Springer
ISBN: 0230512372
Category : Business & Economics
Languages : en
Pages : 193
Get Book
Book Description
Banks' business is increasingly international and an élite group of global banks is emerging. This book outlines the influences on the evolution of international banking and analyses trade and investment in the international banking industry, covering cross-border trade in banking services, foreign direct investment by banks, international financial centres, capital movements, and competition between banks. Focusing on competitive advantage, it compares the leading banks' international business. This book is of interest to academics and students as well as to bankers. It provides a transversal and truly comprehensive overview of the international banking industry, focusing on the organization of the industry and the influences on it, rather than on the functions of banks themselves.
Author: Bharat Narendra Anand
Publisher:
ISBN:
Category : Education, Higher
Languages : en
Pages : 60
Get Book
Book Description
Previous studies have acknowledged the tradeoff between relationships and competion in financial intermediation. In this paper we explore the structural determinants of this tradeoff in the investment banking market, by deriving it from the underlying relationship technology.
Author: Donna Khalife
Publisher: Hyperink Inc
ISBN: 1614644977
Category : Business & Economics
Languages : en
Pages : 216
Get Book
Book Description
Whether you’re an undergraduate prepping for your first internship, or seeking a new career in investment banking, knowing the ins and outs of the industry can help you make your big break. In this eBook, Donna Khalife shares an insider’s perspective to the investment banking industry and helps prepare readers for their chance at landing their dream job.
Author: Mr. Damien Capelle
Publisher: International Monetary Fund
ISBN: 1513582313
Category : Business & Economics
Languages : en
Pages : 74
Get Book
Book Description
This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For large adverse shocks, the system enters a zone with high leverage and possibly runs. The length of time the system remains in this zone depends on the degree of concentration through a franchise value, price-drop and recapitalization channels. The speed of entry of new banks after a collapse has a stabilizing effect.
Author: Xavier Vives
Publisher: Princeton University Press
ISBN: 0691210039
Category : Business & Economics
Languages : en
Pages : 344
Get Book
Book Description
A distinguished economist examines competition, regulation, and stability in today's global banks Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that started in the United States in the 1970s. The global financial crisis of 2007–2009, which originated from an oversupply of credit, once again raised questions about excessive banking competition and what should be done about it. Competition and Stability in Banking addresses the critical relationships between competition, regulation, and stability, and the implications of coordinating banking regulations with competition policies. Xavier Vives argues that while competition is not responsible for fragility in banking, there are trade-offs between competition and stability. Well-designed regulations would alleviate these trade-offs but not eliminate them, and the specificity of competition in banking should be accounted for. Vives argues that regulation and competition policy should be coordinated, with tighter prudential requirements in more competitive situations, but he also shows that supervisory and competition authorities should stand separate from each other, each pursuing its own objective. Vives reviews the theory and empirics of banking competition, drawing on up-to-date analysis that incorporates the characteristics of modern market-based banking, and he looks at regulation, competition policies, and crisis interventions in Europe and the United States, as well as in emerging economies. Focusing on why banking competition policies are necessary, Competition and Stability in Banking examines regulation's impact on the industry's efficiency and effectiveness.
