scholarly journals Research on Business Opportunities of International Investment Banks in China

2021 ◽  
Vol 235 ◽  
pp. 01050
Author(s):  
Boge Wang
Keyword(s):  
Investment Banking ◽  
International Investment ◽  
Debt Financing ◽  
Investment Banks ◽  
Advantages And Disadvantages ◽  
Business Market ◽  
Banking Market ◽  
Banking Business ◽  
Business Contract ◽  
Development Prospects

As China’s capital market deepens reforms, international investment banks are also seeking further opportunities for business development in China. This article first introduces the corresponding overview of China’s investment banking business and international investment banks, and analyzes the development of China’s investment banking market from the four markets of IPO, equity refinancing, M&A and restructuring and debt financing, and then from business contract, undertaking and sales, it analyzes the advantages and disadvantages of international investment banks. It is concluded that under the background of the continuous expansion of the China’s investment banking business market, there are certain opportunities and development prospects for the development of international investment banks in China, but their operations need to be further improved. Based on this, relevant suggestions are proposed for international investment banks to operate in China.

Freeport-McMoRan: Financing an Acquisition

2017 ◽  
pp. 1-19
Author(s):  
David P. Stowell ◽  
Peter Rossmann
Keyword(s):  
Capital Markets ◽  
Credit Ratings ◽  
Investment Banking ◽  
Equity Capital ◽  
Debt Financing ◽  
Investment Banks ◽  
Publicly Traded ◽  
Optimal Capital Structure ◽  
Optimal Capital

Freeport-McMoRan's acquisition of Phelps Dodge created the world's largest publicly traded copper company. JPMorgan and Merrill Lynch advised the acquirer and arranged $17.5 billion in debt financing and $1.5 billion in credit facilities. In addition, these two firms underwrote $5 billion in equity capital through simultaneous offerings of Freeport-McMoRan common shares and mandatory convertible preferred shares. These financings created an optimal capital structure for the company that resulted in stronger credit ratings. The activities of the equity capital markets and sales groups at the underwriting firms are explored and the structure and benefits of mandatory convertible preferred shares is explained.To understand the role of investment banks in advising a large corporation regarding an acquisition and related financings in the capital markets. As part of this, the activities of an investment banking firm's equity capital markets group and their underwriting risks are analyzed. Finally, the structure of a mandatory convertible security is reviewed in terms of benefits to both issuers and investors.

Modularization Technology Development Prospects

2014 ◽  
Vol 509 ◽  
pp. 92-95 ◽  
Author(s):  
Yan Wei ◽  
Dong Feng Wang ◽  
Ji Ying Liu ◽  
Cheng Long Yu ◽  
Tao Cheng ◽  
...  
Keyword(s):  
Technology Development ◽  
Historical Background ◽  
Construction Technology ◽  
Modular Construction ◽  
Development History ◽  
Advantages And Disadvantages ◽  
Comparative Advantages ◽  
Development Prospects

Describes the historical background of modular construction technology, focusing on the development of power from a modular, development history, comparative advantages and disadvantages of other aspects of the study was to investigate, and thus the modularization of the prospect.

scholarly journals Формирование среды реализации цифровых инициатив сотрудников банка

2019 ◽  
pp. 48-54
Author(s):  
Тарас Гриценко ◽  
Жанна Передера ◽  
Анна Теряева
Keyword(s):  
Banking Sector ◽  
Economic Security ◽  
New Professionals ◽  
Advantages And Disadvantages ◽  
Study Results ◽  
The Matrix ◽  
Banking Business ◽  
The Stability ◽  
Definition Of ◽  
The Impact

В работе рассматривается возможность формирования в банковском секторе среды, в которой сотрудники смогут самостоятельно реализовывать цифровые инициативы для развития компании и самообучения. Обоснована необходимость её наличия. Проведен анализ соответствия поставленной проблемы российским и мировым трендам на основе изучения федеральных программ и оценок рейтинговых агентств. В результате исследования разработан бизнес-процесс реализации цифровых инициатив, про-веден конкурентный анализ его преимуществ и недостатков перед традиционным подходом к обучению. The article discusses the possibility of forming in the banking business an environment in which employees will be able to in-dependently implement digital initiatives for the development of the company and self-learning. The necessity of its presence is grounded. The analysis of compliance of the problem with the trends in Russia and the world based on the study of Federal programs and ratings agencies. To attract new staff with the necessary knowledge, banks have a number of tools - business classes, sponsorship programs, mentoring, hackathons, man-agement fights, case-championships, etc. It has been revealed that new professionals with technical skills can solve complex problems and generate products. But it’s difficult for them to dive into the banking sector, study its features and offer their own solutions to problems. It was also revealed that the company is interested in product results that are practice oriented. Com-bining product results and training is only possible by creating an environment in which they can discuss their ideas, find sup-port and implement them. As a result, a business process for the implementation of digital initiatives has been formed, a competi-tive analysis of its advantages and disadvantages over the tradi-tional approach to training has been conducted. strategies. The leading method of research is the definitions according grouping to the principles of the matrix method. It was revealed that the economic security concept is disclosed using factors freely com-bined into three groups (includes: sustainability, protection of interests, ensuring sovereignty), and the most common definitions are built using words-markers: state, security, advantage, process. One of the main study results is an algorithm for constructing the definition of the economic security concept, which allows to model and refine the definition of the concept based on the initial categories, consider-ing the economic context. The author's definition is also formulated, which reflects the interrelation of such components as the protection of interests, the impact of threats, the stability preservation, inde-pendence, ensuring development, self-adaptation and self-reproduction.

Banks and Misconduct

2020 ◽  
pp. 193-250
Author(s):  
Richard S Collier
Keyword(s):  
Business Model ◽  
External Control ◽  
Control Mechanisms ◽  
Half Century ◽  
Significant Incidence ◽  
Banking Market ◽  
Banking Business ◽  
Tax Systems ◽  
The Impact

This chapter deals with the issues and implications of misconduct scandals involving banks and the inter-bank market. The discussion begins by surveying the significant incidence of misconduct by banks across the globe and then presents an explanation for this based on systemic features of the banking market. This includes an account of the impact of a number of profound changes to the banking business model which have taken place in the last half-century as banks have shifted to a highly transactional business model and discovered that tax systems around the globe present fertile opportunities for exploitation. The discussion includes an analysis of why it is considered that the banks’ internal and external control mechanisms have materially failed.

scholarly journals The Role of Investment Banking in M&A Operations: Empiric Pre and Post Lehman Evidence

2014 ◽  
Vol 1 (2) ◽  
pp. 51
Author(s):  
Vincenzo Capizzi ◽  
Renato Giovannini
Keyword(s):  
Investment Banking ◽  
Total Sample ◽  
Time Frame ◽  
Investment Banks ◽  
Measuring System ◽  
Lehman Brothers ◽  
Time Frames ◽  
The Impact ◽  
The Relationship

The role of investment banks in M&A operations is analyzed on the basis of empiric evidence. In particular, to point out the variations in the impact of the certification effect which can be ascribed to investment banks, the relationship between the value created for the shareholders in companies involved in special underwriting operations and the reputation of the banks appointed to act as advisors is examined. The analysis, which uses an original measuring system in order to assess and classify the reputation variable, focuses on transactions that have taken place between listed companies in two time frames, symmetrical to each other, specifically pre and post the Lehman Brothers bankruptcy. The total sample is composed of 229 transactions, divided into 161 and 68 observations, respectively pre and post Lehman. The result is that in the post Lehman period, unlike the preceding time frame, for which no significant empiric evidence is found, the wealth of the shareholders (of both targets and acquirers) is significantly influenced by the reputation of the investment banks which have acted as advisors. This indicates that, subsequent to the shock of the Lehman Brothers collapse, the certifying effect of the investment banks takes on an important role in the shareholders' choice.

Analysts' Motives for Rounding EPS Forecasts

2012 ◽  
Vol 87 (6) ◽  
pp. 1939-1966 ◽  
Author(s):  
Patricia M. Dechow ◽  
Haifeng You
Keyword(s):  
Earnings Announcements ◽  
Investment Banking ◽  
Earnings Response Coefficients ◽  
Economic Significance ◽  
Earnings Response ◽  
Banking Business

ABSTRACT We investigate analysts' motives for rounding annual EPS forecasts (placing a zero or five in the penny location of the forecast). We first show that an intuitive reason for analysts to engage in rounding is in circumstances where the penny digit of the forecast is of less economic significance. By rounding, analysts reveal that their forecasts are not intended to be precise to the penny. We also show that analyst incentives impact the likelihood of rounding. Specifically, we predict that analysts will exert less effort forecasting earnings for firms that generate less brokerage or investment banking business since such firms create less value for the analysts' employers. As a consequence of this reduced effort and attention, the analyst will be more uncertain about the penny digit of the forecast and so will round. Our results are consistent with this prediction. One implication of our findings is that a rounded forecast is a simple and easily observable proxy for a more noisy measure of the market's expectation of earnings. Consistent with this implication, we show that rounded forecasts bias down earnings response coefficients at earnings announcements.

Analysts’ Incentives to Overweight Management Guidance When Revising Their Short-Term Earnings Forecasts

2010 ◽  
Vol 85 (5) ◽  
pp. 1617-1646 ◽  
Author(s):  
Mei Feng ◽  
Sarah McVay
Keyword(s):  
Forecast Accuracy ◽  
Earnings Forecasts ◽  
Investment Banking ◽  
Equity Offerings ◽  
Short Term ◽  
Management Guidance ◽  
Banking Business

ABSTRACT: We document that, when revising their short-term earnings forecasts in response to management guidance, analysts wishing to curry favor with management weight the guidance more heavily than predicted, based on the credibility and usefulness of the guidance. This overweighting of guidance is present prior to equity offerings and other events that could lead to investment banking business. Although analysts sacrifice their forecast accuracy by overweighting management guidance, they appear to benefit, on average, by subsequently gaining the underwriting business for their banks. Thus, while analysts wishing to please managers are optimistic in their long-term earnings forecasts, they take their cue from management when determining their short-term earnings forecasts.

scholarly journals Distance learning as an educational technology: development prospects and challenges of today

2021 ◽  
Vol 7 (3B) ◽  
pp. 518-526
Author(s):  
Larysa Korzh-Usenko ◽  
Oksana Kuznetsova ◽  
Viktoriia Pryma ◽  
Yulia Сheryshchuk ◽  
Olena Riabinina ◽  
...  
Keyword(s):  
Distance Education ◽  
Distance Learning ◽  
Technology Development ◽  
Synthesis Methods ◽  
Literature Study ◽  
Daily Lives ◽  
Advantages And Disadvantages ◽  
Theoretical Generalization ◽  
Contemporary Education ◽  
Development Prospects

The objective of the research was to discuss distance education as a current and necessary object for contemporary education. The following research methods were used in the article: literature study, analysis, synthesis, methods of theoretical generalization. According to the solution research hypothesis, the following main tasks were: to define the concept of "distance learning"; to reveal the advantages and disadvantages of distance learning in education. It is concluded that: although there are disagreements about distance education as a tool in presential school; its use is a path of no return. Teachers and technicians must be equipped to update and use them in a common way in their daily lives.

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