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INVESTMENT BANKING

2017-2018

IESEG School of Management ( IÉSEG )

Code Cours :

1718-IÉSEG-MBK1S1-FIN-MBKCI01UE

FINANCE


Niveau Année de formation Période Langue d'enseignement 
MSc in Investment Banking and Capital Markets1S1English
Professeur(s) responsable(s)T.VEROUSIS
Intervenant(s)T.VEROUSIS


Pré requis

None

Objectifs du cours

At the end of the course, the student should be able to:
1. Define investment banking and describe its main business areas (AACSB Learning Goal)
2. Evaluate the conflicts of interest in investment banking
3. Critically discuss recent issues in investment banking (AACSB Learning Goal)
4. Understand the main motivations of investment banks in their activities (AACSB Learning Goal)
5. Able to use the primary valuation methodologies that are used when making M&A transactions, LBOs, IPOs and other investment decisions

Contenu du cours

The aim of the module is to gain insights into the business of investment banks as well as the competitive forces between investment banks. Rather than giving a general overview of investment banking, this module discusses the theoretical background that helps explain the behaviour of investment banks in specific business lines, e.g. M&A, IPOs, and the conflicts of interest for analysts working in investment banks.
However, valuation also lies at the core of investment banking and this module aims to provide a comprehensive analysis of the main valuation tools that investment banks use in investment decisions, M&As, IPOs, spin-offs and leveraged-buyouts. Hence, this module covers the “deals” but also the behaviour of investment bankers conducting these deals and how their motives affect their recommendations to clients. Moreover, this module assumes that students already know the basics of M&A and IPOs at least from the company perspective (motives, process, etc.).


Modalités d'enseignement

Organisation du cours

TypeNombre d'heuresRemarques
Face to face
lecture16,00  
Independent study
Group Project10,00  
Individual Project5,00  
Estimated personal workload19,00  
Charge de travail globale de l'étudiant50,00  

Méthodes pédagogiques

  • Presentation
  • Research
  • Project work


Évaluation

2 hour exam

Type de ContrôleDuréeNombrePondération
Final Exam
Written exam2,001100,00
TOTAL     100,00

Bibliographie

  • G. Iannotta (2010). Investment Banking: A Guide to Underwriting and Advisory Services, Springer -

  • K.T. Liaw (2012). The Business of Investment Banking, 3rd Edition, Wiley & Sons -

  • M. Fleuriet (2008). Investment Banking Explained: An Insider’s Guide to the Industry, McGraw Hill -

  • Rosenbaum, J. and Pearl, J. (2013). Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions, Wiley & Sons -

  • The above books do not cover all the topics, so students will also have to read journal articles and other book chapters to complement the lecture notes. -

    The reading list for each lecture will be given on each lecture. However, students are strongly encouraged to extend the reading list using further academic or practitioner literature.




 
* Informations non contractuelles et pouvant être soumises à modification
 
 
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