The Business of Investment Banking: A Comprehensive Overview, 3rd Edition

THE BUSINESS INVESTMENT BANKING

The most comprehensive overview of the investment banking industry, updated and revised

For years, students and banking professionals have relied on finance professor Tom Liaw's authoritative text, The Business of Investment Banking, for a comprehensive overview of venture capital, underwriting, mergers and acquisitions, asset securitization, financial engineering, trading, investment management, and other key topics. The investment banking industry has changed dramatically since the 2008 financial crisis. Dr. Liaw addresses these major changes in this important revision.

The recent financial regulation overhaul, including the Dodd-Frank legislation, has transformed what investment banks do and how they do it, while the Volcker rule has substantially altered the trading world. Covering the full range of investment banking activities, this completely revised and updated edition:

• Addresses investment banking's role in public and private mergers, acquisitions, divestitures, and the issuance of equity or debt securities, or a combination of both

• Explains why and how banks today go beyond traditional investment banking to include trading, securitization, financial engineering, merchant banking, investment management, and securities services

• Deals with how investment banks assist clients in raising capital through underwriting, purchasing the whole block of new securities from the issuer and distributing them to institutional and individual investors

• Discusses the effects of the Dodd-Frank reform act, which restricted how investment banks can operate proprietary trading

No matter the area of investment banking you're interested in, or if you just need a comprehensive overview of one of the world's most exciting industries, you'll find it here. Reflecting the current state of the investment banking industry, this new edition arrives in time to better serve professionals wanting to advance their careers and students just beginning theirs.