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Investment Banking

A Guide to Underwriting and Advisory Services

  • Textbook
  • © 2010

Overview

Authors:
  1. Giuliano Iannotta

    1. Dipto. Finanza, Università Bocconi, Milano, Italy

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  • Comprehensive overview of traditional investment banking activities

  • Provides understanding of main technical aspects of the investment banking business

  • Combines the academic and practical perspectives

  • Optimal accompanying book for investment banking or advisory corporate finance courses

  • Includes supplementary material: sn.pub/extras

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xv
    Download chapter PDF

  2. Introduction to Investment Banking

    • Professor Giuliano Iannotta
    Pages 1-17

  3. Private Equity

    • Professor Giuliano Iannotta
    Pages 19-43

  4. Equity Offerings: Structure and Process

    • Professor Giuliano Iannotta
    Pages 45-59

  5. Equity Offerings: Syndicate Structure and Functions

    • Professor Giuliano Iannotta
    Pages 61-77

  6. Price Setting Mechanisms

    • Professor Giuliano Iannotta
    Pages 79-98

  7. Debt Offerings

    • Professor Giuliano Iannotta
    Pages 99-115

  8. Mergers and Acquisitions: Definitions, Process, and Analysis

    • Professor Giuliano Iannotta
    Pages 117-140

  9. Risk Management in Mergers and Acquisitions

    • Professor Giuliano Iannotta
    Pages 141-153

  10. Hostile Takeovers and Takeover Regulation

    • Professor Giuliano Iannotta
    Pages 155-173

  11. Corporate Restructuring

    • Professor Giuliano Iannotta
    Pages 175-193
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Keywords

About this book

From a historical point of view, the main activity of investment banks is what today we call security underwriting. Investment banks buy securities, such as bonds and stocks, from an issuer and then sell them to the ?nal investors. In the eighteenth century, the main securities were bonds issued by governments. The way these bonds were priced and placed is extraordinarily similar to the system that inve- ment banks still use nowadays. When a government wanted to issue new bonds, it negotiated with a few prominent “middlemen” (today we would call them investment bankers). The middlemen agreed to take a fraction of the bonds: they accepted to do so only after having canvassed a list of people they could rely upon. The people on the list were the ?nal investors. The middlemen negotiated with the government even after the issuance. Indeed, in those days governments often changed unilaterally the bond conditions and being on the list of an important middleman could make the difference. On the other hand, middlemen with larger lists were considered to be in a better bargaining position. This game was repeated over time, and hence, reputation mattered. For the middlemen, being trusted by both the investors on the list and by the issuing governments was crucial.

Authors and Affiliations

  • Dipto. Finanza, Università Bocconi, Milano, Italy

    Giuliano Iannotta

Bibliographic Information

  • Book Title: Investment Banking

  • Book Subtitle: A Guide to Underwriting and Advisory Services

  • Authors: Giuliano Iannotta

  • DOI: https://doi.org/10.1007/978-3-540-93765-4

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Business and Economics, Economics and Finance (R0)

  • Copyright Information: Springer-Verlag Berlin Heidelberg 2010

  • Hardcover ISBN: 978-3-540-93764-7Published: 04 February 2010

  • Softcover ISBN: 978-3-642-42445-8Published: 21 October 2014

  • eBook ISBN: 978-3-540-93765-4Published: 12 January 2010

  • Edition Number: 1

  • Number of Pages: XV, 193

  • Topics: Finance, general

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