The Business of Investment Banking

K. Thomas Liaw

Publisher: Wiley, 1999, 337 pages

ISBN: 0-471-29305-9

Keywords: Finance

Last modified: July 17, 2021, 5:31 p.m.

The business of investment banking has become intensely competitive. With a growing number of clients who prefer to deal with a single financial advisor for all their capital needs, firms must now engage in all major capital-market activities in order to meet this demand. Rapid advances in information technology have closely linked the international capital markets and, as a result, major securities firms have gone global to better serve their clients. To fully understand thsi changing environment and remain players in the game, new and seasoned professionals alike will require detailed, in-depth information on a broad scope of banking operations.

The Business of Investment Banking is a complete guide to the major banking activities in today's global marketplace. This convenient, one-volume reference identifies and analyzes key trends worldwide, allowing banking and finance professionals to effectively manage deals and incorporate trends into operations. In The Business of Investment Banking, Professor K. Thomas Liaw goes beyond traditional banking topics and includes extensive coverage of rarely discussed subjects that are integral to investment banking, such as emerging markets, proprietary tarding, repurchase transactions, operations, money management, and how foreign firms list on Wall Street.

Beginning with an overview, covering everything from underwriting to M&As to global presence, Liaw provides a thorough and rigorous analysis if the current market practices in all relevant business segments. He presents an investment banker's perspective on the current environment, with a detailed description of the strategic decision-making process that is crucial to successfully managing the investment bank.

This thorough guide is divided into four main sections:

  • Basic Business — explores venture capital investments, mergers and acquisitions, underwriting, and asset securization
  • Global Perspective — detailed information about foreign listing on Wall Street, international capital markets, and emerging markets
  • Trading and Risk Management — extensive datat on proprietary trading, repurchase agreements, financial engineering, and money management
  • Special Topics — discusses clearing and settlement, securities regulation, ethics, major trends, and Section 20 subsidiaries.

Comprehensive, unparalleled coverage of a wide range of topics makes The Business of Investment Banking an invaluable, one-stop resource for all practicing investment banking professionals and for graduate students interested in a career in capital markets.

  1. Investment Banking in Global Capital markets
  2. Venture Capital Markets
  3. Mergers and Acquisitions
  4. Stock Underwriting
  5. Underwriting Fixed-Income Securities
  6. Asset Securitization
  7. Foreign Listing on Wall Street
  8. Euromarkets and European Markets
  9. Japanese Securities Markets
  10. Emerging Markets
  11. Trading and Trading Techniques
  12. Repurchase Transactions
  13. Financial Engineering
  14. Money Management
  15. Clearing and Settlement
  16. Securities Regulation and Ethics
  17. Investment Banking Trends and Section 20


The Business of Investment Banking

Reviewed by Roland Buresund

Excellent ********** (10 out of 10)

Last modified: May 21, 2007, 3:25 a.m.

Good introduction, but no details.

This is an excellent book for anyone wondering what Investment Banking is all about, but who doesn't want to learn how to price a company. It describes in sufficient detail, for the reader to understand, the concepts underlying Investment Banking and what they really do in the Investment Banking world as well as explaining in easy (relatively) terms the jargon that is used in the business.

If you want the theoretical underpinnings of the financial world, this book is not for you. If, on the other hand, you're an aspiring Investment Banker that wants to know what it is all abour or if you're just curious about what the Investment Banking business is about: buy this book as a primer/introduction and if you find it interesting, search for a more theoretical book.


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