"Investment Banking" - Special Topics in Business Institutions
- David Paul Stowell
- Jacobs Center G27 - Tu 3:30PM - 6:15PM
Overview of classThis course focuses on investment banking firm organizational structure, products, risks, earnings, regulations, innovations and competition. The "banking" business (M&A and financings, including equity, bonds, and convertibles), the "sales and trading" business (client-related sales and trading and proprietary trading) and other investment banking businesses will be analyzed in detail. In addition, new, innovative Wall Street securities and advisory products will be reviewed. Finally, investment banking relationships with LBO funds, hedge funds and corporate institutional clients will be explored.
Registration RequirementsRecommended: Corporate Finance (ECON 360) and Accounting (ECON/BIP 260)
Teaching MethodGRADING PHILOSOPHY
The following is necessary to achieve the highest grade:
· Participation in class discussions
· Awareness of current financial and merger market conditions
· Effective use of all electronic news media
· Meeting class deadlines
· Class attendance and punctuality
· Name plates at every class
· Insightful and efficient verbal and written communication
· Total adherence to the Honor Code
Weekly presentations on market developments and the mid-term case will be completed by groups. These and other group activities must adhere to the Honor Code in every respect, including each group member having a full understanding of any written material that includes a student's name. For example, even though one student may do the principal work on a spreadsheet, all group members are expected to fully understand the spreadsheet and be able to answer questions regarding it or any other aspect of the group's product. The Honor Code will, of course, also apply to all individual work as well.
Investment Banking Lecture Notes for the entire course are posted on Blackboard
1. Class Participation (15% weighting)
Classroom comments and questions should demonstrate knowledge of the topic being discussed and facilitate learning for the entire class. Be prepared to be "cold called", so make sure you have completed assigned readings prior to class. Name plates must be brought to every class: participation points will be lost if name plates are not displayed. Class participation in discussing the three cases (see below) represents 5%. The remaining 10% comes from participation in all remaining classes and from the Class Participation and Group Evaluation survey completed at the end of the course.
2. Case Discussion Questions (15% weighting)
A one page response to questions (see questions posted under Assignments in Blackboard) based on your reading and related research should be posted on Blackboard prior to classes #3, #5 and # 7 (exhibits are allowed, if relevant). The purpose of the questions is to ensure comprehension and application of assigned readings and to facilitate class discussion.
2. Group Presentation to Class on financial and M&A market developments (20% weighting)
One group presents each week.
4. Group M&A Case Paper (20% weighting)
A group paper on an M&A transaction will be due during class # 6 (see description under Assignments in Blackboard).
5. Final Exam (30% weighting)
Class Materials (Required)Too Big to Fail by Sorkin
Investment Banks, Hedge Funds and Private Equity: The New Paradigm by Stowell
There is also a course packet containing additional required reading material that can be purchased at Norris. This will be supplemented by readings posted on Blackboard.
Class NotesCLASSROOM POLICY
Students should demonstrate respect for the professor and fellow students during the class period. Students, therefore, should refrain from distracting behavior such as disruptive eating, side conversations or using laptops to surf the Web or check e-mail.
BIP will no longer keep any wait lists in the office or on CAESAR. Any open slots will be at the professor's discretion. First class mandatory
Class AttributesAttendance at 1st class mandatory
Enrollment RequirementsEnrollment Requirements: Reserved for Juniors & Seniors
Current as of 06/04/14 08:16:25 AM