Underwriting Services and the New Issues Market
Underwriting Services and the New Issues Market

Author: George J. Papaioannou

Publisher: Academic Press

Published: 2017-07-27

Total Pages: 334

ISBN-13: 0128032839

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Underwriting Services and the New Issues Market integrates practice, theory and evidence from the global underwriting industry to present a comprehensive description and analysis of underwriting practices. After covering the regulation and mechanics of the underwriting process, it considers economic topics such as underwriting costs and compensation, the pricing of new issues, the stock price and operating performance of issuing firms, the evaluation of new issue decisions, and an analysis of the many choices issuers face in structuring new issues. Unlike other books, it systematically develops a critical perspective about underwriting practices, both in the U.S. and international markets, and with a level of detail unavailable elsewhere and an approach that reveals how financial institutions deliver underwriting services. Underwriting Services and the New Issues Market delivers an innovative and long overdue look at security issuance. Foreword by Frank Fabozzi - Covers underwriting contracts and arrangements on pricing and costs - Focuses on the financial consequences of the issuance decision for the firm - Describes and evaluates decisions regarding the features and structure of new security offerings.

The Oxford Handbook of IPOs
The Oxford Handbook of IPOs

Author: Douglas Cumming

Publisher:

Published: 2018

Total Pages: 841

ISBN-13: 0190614579

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This book provides a comprehensive analysis of IPOs. The chapters cover the latest information on a range of fundamental questions, including: How are IPOs regulated? How are IPOs valued? How well does an IPO perform in the short and long run, and what are the drivers of performance?

Universal Banking in the United States
Universal Banking in the United States

Author: Anthony Saunders

Publisher: Oxford University Press

Published: 1994-01-06

Total Pages: 287

ISBN-13: 0195359763

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In 1933 and 1956, the United States sharply limited the kinds of securities activities, commercial activities, and insurance activities banks could engage in. The regulations imposed on banks back then remain in place despite profound changes in the economic environment, in the structure of the national and international financial markets, and in technology. In this span of time many industries, especially those confronting global competition, have transformed themselves dramatically in their efforts to survive and prosper. Not so in the American financial services sector, banks have largely remained stuck in an antiquated regulatory structure which has placed the burden of responding to the needs of market-driven structural change on the shoulders of the regulators and the courts in a constant search for loopholes in the law. The purpose of this book is to evaluate the case for and against eliminating the barriers that have so long existed between banking and other types of financial services in the United States. Universal Banking in the United States studies the consequences of bank regulation in the U.S. as it relates to competition in international financial markets. Anthony Saunders and Ingo Walter examine universal banking systems in other countries, especially Germany, Switzerland, and the U.K., and how they work. They then apply the lessons to U.S. banking, paying particular attention to the benchmarks of stability, equity, efficiency, and competitiveness against which the performance of national financial systems should be measured. In the end, the authors propose the outlines of a level playing field on which any number of forms of organization can grow in the financial services sector, in which universal banking is one of the permitted structures, and where regulation is linked to function.

Investment Banking
Investment Banking

Author: Giuliano Iannotta

Publisher: Springer Science & Business Media

Published: 2010-01-12

Total Pages: 199

ISBN-13: 354093765X

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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.

Performance of Financial Institutions
Performance of Financial Institutions

Author: Patrick T. Harker

Publisher: Cambridge University Press

Published: 2000-05-18

Total Pages: 516

ISBN-13: 9780521777674

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The efficient operation of financial intermediaries--banks, insurance and pension fund firms, government agencies and so on--is instrumental for the efficient functioning of the financial system and the fueling of the economies of the twenty-first century. But what drives the performance of these institutions in today's global environment? In this volume, world-renowned scholars bring their expertise to bear on the issues. Primary among them are the definition and measurement of efficiency of a financial institution, benchmarks of efficiency, identification of the drivers of performance and measurement of their effects on efficiency, the impact of financial innovation and information technologies on performance, the effects of process design, human resource management policies, as well as others.

Separation of Commercial and Investment Banking
Separation of Commercial and Investment Banking

Author: George J. Benston

Publisher: Springer

Published: 1990-06-18

Total Pages: 274

ISBN-13: 1349112801

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The latest in a series of studies in banking and international finance. This book deals with all aspects of the Glass-Steagall Act, and the relationship between the commercial banks and the investment banks.

The Fundamentals of Municipal Bonds
The Fundamentals of Municipal Bonds

Author: SIFMA

Publisher: John Wiley & Sons

Published: 2011-10-25

Total Pages: 326

ISBN-13: 1118166841

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The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.

FINRA SIE Exam Preparation Guide 3000+ Questions Bank for the Securities Industry Essentials (SIE) Exam
FINRA SIE Exam Preparation Guide 3000+ Questions Bank for the Securities Industry Essentials (SIE) Exam

Author: P. Anshu

Publisher: P. Anshu

Published: 2023-12-15

Total Pages: 1087

ISBN-13:

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Unlock your success in the Securities Industry Essentials (SIE) Exam with the SIE Exam Preparation Book for the Securities Industry Essentials Exam 3000+ Questions Bank. This comprehensive resource is your ultimate interactive learning companion, offering a vast array of questions and answers to master the intricacies of the financial world. With over 3000+ questions, meticulously crafted to cover each learning outcome, this guide ensures a thorough understanding of the exam content. Divided into four units, it navigates through the essential domains: Knowledge of Capital Market, Understanding Products and Their Risks, Trading, Customer Accounts, & Prohibited Activities, and Overview of the Regulatory Framework. UNIT 1: Knowledge of Capital Market (750+ Questions) UNIT 2: Understanding Products and Their Risks (1150+ Questions) UNIT 3: Understanding Trading, Customer Accounts, and Prohibited Activities (1050+ Questions) UNIT 4: Overview of the Regulatory Framework (150+ Questions) 2X POWERS TO YOU IN THIS BOOK FINRA SIE Exam Preparation Guide - FINRA SIE PrepPro designed as an "Interactive Learning: Questions and Answers for SIE exam" This book is your comprehensive self-paced guide to mastering the intricacies of SIE exam through an engaging question-answer format. Designed to cater to different learning styles, this resource allows learners to enhance their knowledge and test their understanding without the need for additional study materials. Each section presents a series of thought-provoking questions followed by helpful hints, allowing you to hone your critical thinking skills and reinforce key concepts. After attempting each question, review the correct answers and detailed explanations, providing valuable insights and enhancing your comprehension. This interactive approach ensures a dynamic learning experience, combining the benefits of simulated quizzes with the depth of study materials. This book is your go-to resource for effective and engaging learning. Get ready to challenge yourself, learn from mistakes, and deepen your understanding of concepts & test objectives of SIE exam in an interactive and stimulating manner. Wish you a great success for your exam in 2024. POWER 1: HINTS: Unlock the power of hints! Each question in this book comes with a "HINTS". Hints are strategically crafted to gently guide you in the right direction, nudging your thought process without giving away the solution entirely. Think of them as friendly nudges from a mentor, providing valuable insights to help you navigate the problem. Embrace the hints and let them illuminate the path to understanding. They're not just clues; they're your allies in conquering complexity and mastering the art of problem-solving. Happy hinting! When you encounter a question with hints, consider it your secret weapon for overcoming challenges. POWER 2. EXPLANATIONS: Double Power for Your Success!! Apart from HINTS, another tool is given to you for your success in FINRA SIE Exam is Explanations along with correct answers for all tests. After each test the correct answer sheet is given along with Explanations, which are crucial for learners for several reasons: Understanding the Concept Clarification of Doubts Application of Knowledge Critical Thinking & Building Confidence Most Imp. Retention and Memory.