{"product_id":"the-business-of-investment-banking-isbn-9781118004494","title":"The Business of Investment Banking","description":"\u003cb\u003eA comprehensive overview of investment banking for professionals and students\u003c\/b\u003e  \u003cp\u003eThe investment banking industry has changed dramatically since the 2008 financial crisis. Three of the top five investment banks in the United States have disappeared, while Goldman Sachs and Morgan Stanley have converted to commercial banking charters. This \u003ci\u003eThird Edition\u003c\/i\u003e of \u003ci\u003eThe Business of Investment Banking\u003c\/i\u003e explains the changes and discusses new opportunities for students and professionals seeking to advance their careers in this intensely competitive field.\u003c\/p\u003e \u003cp\u003eThe recent financial regulation overhaul, including the Dodd-Frank legislation, is changing what investment banks do and how they do it, while the Volcker rule has shaken up trading desks everywhere.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eThis new edition updates investment banking industry shifts in practices, trends, regulations, and statistics\u003c\/li\u003e \u003cli\u003eIncludes new chapters on investment banking in BRIC countries, as Brazil, Russia, India, and China now account for a quarter of the global economy\u003c\/li\u003e \u003cli\u003eExplains the shift in the listing of securities away from New York to various financial centers around the world, and how major exchanges compete for the same business\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThis new edition, reflecting the current state of the investment banking industry, arrives in time to better serve professionals wanting to advance their careers and students just beginning theirs.\u003c\/p\u003e \u003cp\u003eChapter 1 Introduction to Investment Banking: How the Financial Crisis and Reforms Changed the Industry 1\u003c\/p\u003e \u003cp\u003eChapter 2 New Investment Banking Structure: Financial Holding Companies, Full-Service, and Boutique Investment Banks 9\u003c\/p\u003e \u003cp\u003eChapter 3 The Structure of Investment Banks: Divisions and Services 21\u003c\/p\u003e \u003cp\u003eChapter 4 Investment Banking Strategies: How They Compete and Profit 37\u003c\/p\u003e \u003cp\u003eChapter 5 Employment Opportunities in Investment Banking 49\u003c\/p\u003e \u003cp\u003eChapter 6 Venture Capital and Private Equity: Direct Investing in Companies 77\u003c\/p\u003e \u003cp\u003eChapter 7 Mergers and Acquisitions 99\u003c\/p\u003e \u003cp\u003eChapter 8 Equity Underwriting and IPOs 117\u003c\/p\u003e \u003cp\u003eChapter 9 Debt Underwriting: Issuing Bonds 141\u003c\/p\u003e \u003cp\u003eChapter 10 Asset Securitization: Turning Income Streams into New Investment Vehicles 173\u003c\/p\u003e \u003cp\u003eChapter 11 Listing in New York, London, and Other Markets 195\u003c\/p\u003e \u003cp\u003eChapter 12 Trading: Market Making, Arbitrage, and Brokering 213\u003c\/p\u003e \u003cp\u003eChapter 13 Repurchase Agreements and Prime Brokerage 237\u003c\/p\u003e \u003cp\u003eChapter 14 Derivatives and Financial Engineering: Foreign Exchange, Commodities, and Interest Rates 257\u003c\/p\u003e \u003cp\u003eChapter 15 Investment Management for Pension Funds, Endowments, and Wealthy Families 279\u003c\/p\u003e \u003cp\u003eChapter 16 Securities Regulation and Ethics: The Dodd-Frank Bill and Other Key Laws 297\u003c\/p\u003e \u003cp\u003eChapter 17 The BRICs: Investment Banking in Brazil, Russia, and India 323\u003c\/p\u003e \u003cp\u003eChapter 18 The BRICs: Investment Banking in China 339\u003c\/p\u003e \u003cp\u003eChapter 19 Investment Banking Trends and Challenges 359\u003c\/p\u003e \u003cp\u003eIndex 367\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eK. THOMAS LIAW, P\u003csmall\u003eH\u003c\/small\u003eD,\u003c\/b\u003e is a Professor of Finance at St. John's University. He has published several books, including \u003ci\u003eCapital Markets; The Irwin Guide to Stocks, Bonds, Futures, and Options\u003c\/i\u003e; and \u003ci\u003eInvestment Banking and Investment Opportunities in China\u003c\/i\u003e. He has published articles in the areas of mergers and acquisitions, banking, swaps, repurchase agreements, and market risks. His consulting practice specializes in investment management and securities business, and he speaks on the subjects of investment banking and capital markets at corporate programs. Professor Liaw earned his doctoral degree from Northwestern University.   \u003c\/p\u003e\u003cp\u003eThe financial crisis and the fallout from the Lehman Brothers bankruptcy caused a seismic shift in the investment banking industry. Three of the top five investment banks in the United States disappeared, while Goldman Sachs and Morgan Stanley converted to commercial banking charters. Post-crisis financial regulation overhaul, including the Dodd-Frank legislation, altered the nature of what investment banks do and how they undertake those activities, while the Volcker rule has shaken up trading desks everywhere. The rules have changed, and \u003ci\u003eThe Business of Investment Banking, Third Edition\u003c\/i\u003e arrives in time to better serve bankers seeking to advance their careers and students just beginning theirs.  \u003c\/p\u003e\u003cp\u003eInvestment banks must now navigate the shifting regulatory terrain, while taking full advantage of burgeoning investment banking opportunities. In \u003ci\u003eThe Business of Investment Banking\u003c\/i\u003e, Dr. Liaw provides an inclusive, up-to-date guide to the evolving investment banking industry. New topics in the \u003ci\u003eThird Edition\u003c\/i\u003e include:  \u003c\/p\u003e\u003cul\u003e \u003cli\u003eChapters on investment banking in BRIC countries, as Brazil, Russia, India, and China now account for a quarter of the global economy and present tremendous, potentially profitable opportunities to investment banks\u003c\/li\u003e \u003cli\u003eDetails on the changes prompted by the financial crisis and the subsequent regulatory and government policy changes\u003c\/li\u003e \u003cli\u003eThe shift in the listing of securities away from New York to other financial centers around the world as a result of the Sarbanes-Oxley Act, and how major exchanges compete for the same business\u003c\/li\u003e \u003cli\u003eExpands coverage of client service related trading and prime brokerage, which can be volatile, but also highly profitable\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003eA staple of industry training programs and a valued reference among banking students in its first two editions, \u003ci\u003eThe Business of Investment Banking, Third Edition\u003c\/i\u003e adds a wealth of new information to an indispensable resource.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990179528933,"sku":"NP9781118004494","price":89.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118004494.jpg?v=1761786808","url":"https:\/\/k12savings.com\/products\/the-business-of-investment-banking-isbn-9781118004494","provider":"K12savings","version":"1.0","type":"link"}