Finance, investment banking and the internationalbank credit and capital markets: a guide to the global industry and its governance in the new age of uncertainty

This book by a former practitioner fills a clear gap in the current literature for a practice-focused text that brings together the organisational structure, economics and governance of the finance industry - investment banking, wholesale banking and asset management - with the functions it performs such as mergers and acquisitions, IPOs, private equity, hedge funds, high frequency trading and the structuring of cash and synthetic ETFs and CDOs. It integrates thecredit and capital markets by considering securitisation as a 'conversion' process between the two markets and money market mutual funds as a capital market alternative to bank deposits offered in the credit market. It analyses the societal value of the industry as well as market and regulatory failure leadingto crisis and hence the need for more appropriate governance structures and disciplining and control mechanisms for both banks and sovereign groupings suchas the eurozone. INDICE: Preface. .PART 1: THE FUNDAMENTALS OF FINANCE, MARKETS AND THE FINANCIAL FIRMS.The Price Mechanism and the Three Pillars of Finance.Appendix - Valuation Models, Issues in Bank Asset Valuation, Discounted Cash Flow Valuation of Bonds and Equities.Balance Sheets: The Key to Understanding Financial Intermediation.Financial Intermediation: Industry Sectors, Products and Markets.Financial Intermediation: Commercial and Investment Bank Structure.PART 2: PRIMARY MARKETS: FUNDING LIQUIDITY AND EXTERNAL CAPITAL ALLOCATION THROUGH CREDIT AND CAPITAL MARKETS.Liquidity: What is it?.Financing the Four Sectors: Companies, Households, Governments and Overseas through Credit and Capital Markets.Banking: Credit Intermediation through Depository Institutions.Bank Liquidity Management.Converting Loans to Securities: Securitisation as a Financing Tool.Shadow Banking: Credit Intermediation through Non-depository IPOs and Corporate Bond Origination.PART 3: SECONDARY MARKETS: MARKET LIQUIDITY AND MARKET FAILURE.Market Liquidity: Order-driven Auction Markets and Quote-driven Dealer Markets.The New Secondary Market Structure: Competition, Dark Pools, Algorithmic and High Frequency Trading.Clearing and Settlement of Securities Transactions.Market Failure: Sub-optimal Allocation of Resources by Credit and Capital Markets, Banking and Sovereign Debt Crises.Assessing Risk and Return for Investors in Bank and Sovereign Debt.Case Study: Lehman - What might have been.Case Study: Greece in Default in 2011.Case Study: Italy, Illiquid or Insolvent in 2011.PART 4: ASSESSING AND MANAGING RISK IN ASSET PORTFOLIOS.Investment Management and Portfolio Structuring.Investment Management Practice: Funds - Pension, Insurance, Sovereign Wealth, Long-Only, Hedge, Mutual, Cash and Synthetic ETF's and Delta One Trading Desks.PART 5: INTERNAL CAPITAL ALLOCATION: THE ROLE OF DIRECTORS, INVESTORS AND THE MARKET FOR CORPORATE CONTROL.The Internal Capital Market & Investor Governance of Capital Allocation.The Market for Corporate Control: Mergers and Acquisitions.Private Equity.PART 6: INTERNAL RISK MANAGEMENT AND EXTERNAL REGULATION OF FINANCIAL INTERMEDIARIES AND MARKETS.Risk Management in Credit Intermediaries and Investment Banks.Regulation of Banks and Investment Banks: Basel I, II, and III.Regulation of Securities Markets.PART 7: THE ROLE OF GOVERNANCE AND STRATEGY IN RESOURCE ALLOCATION, FIRM AND INDUSTRY STRUCTURE: CASE STUDIES IN FINANCIAL SERVICES.Strategy, Governance and Firm and Industry Structure.Case Studies in Financial Services - Success and Failures.TheFuture Structure of the Industry: Implications of Re-regulation.The Fatal Flaw in Capital Allocation - The Shift from a Trust Model to a Transactional Model.The Global Economic and Financial Outlook: 2020 Vision.

• ISBN: 978-0-230-37047-0
• Editorial: Palgrave Macmillan
• Encuadernacion: Cartoné
• Páginas: 416
• Fecha Publicación: 25/05/2012
• Nº Volúmenes: 1
• Idioma: Desconocido