scholarly journals A Study and Analysis of Investment Banking and Regional Development Among European Economy

2021 ◽  
Vol 5 (2) ◽  
pp. 107-113
Author(s):  
J. Jose Prabhu
Keyword(s):  
Capital Markets ◽  
Investment Banking ◽  
Secondary Market ◽  
Investment Banks ◽  
Financial Intermediaries ◽  
Individual Investors ◽  
The People ◽  
Capital Financing ◽  
Current Scenario

Investment banks are financial intermediaries that specialize in the sale of securities and the issuance and underwriting of new shares to raise capital financing. Investment banking is a special segment of banking that assists individuals or organizations to raise capital in the main market. In the tea market, new securities are issued and act on behalf of customers, thus playing an important role in the secondary market. Investment banks undertake new debt or equity securities for all types of businesses, support the sale of securities, and facilitate mergers and acquisitions by institutional and individual investors. Investment banking organizations act as intermediaries between investors and capital markets. Investment banks are becoming important in European capital markets due to many factors including the perception of investment banks among investors and the various other functions implemented by investment banks. The research paper aims to show the role of investment banks in the current scenario. This study is descriptive in nature and uses auxiliary data. The study reveals the growth, development, function and role of investment banking in the European economy. The main objective of this investigation is to clarify how investment banks play a role in increasing a country’s resources and economic growth. It analyzes the various functions performed by investment banks. Investment banks connect the people who sell securities with their investors. Investment banks add liquidity to the market. Investment banks promote savings and investment and eliminate capital shortages. Mobilize small, scattered savings in the community so you can invest in productive businesses. He concluded that the role of investment banks in economic development is important.

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.

Shareholder-driven Corporate Governance

2019 ◽  
Author(s):  
Anita Indira Anand
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Moral Hazard ◽  
Capital Markets ◽  
Regulated Markets ◽  
The People ◽  
Important Trend ◽  
Technical Capacity ◽  
Regulatory Challenges

This is a book about the ways in which capital markets have come to be shaped by the ubiquity of sophisticated investors. In particular, many of today’s investors have the economic might and technical capacity to play a role in the decision-making of the corporations in which they invest. This phenomenon brings with it a host of benefits, such as mechanisms to ameliorate the moral hazard that can exist when the people who bear the risk of corporate activity are different from those who make decisions. A key element of this book is an examination of the ways in which thinking about corporations and capital markets must change to reflect the prevalence of sophisticated shareholders. The book develops a concept—shareholder-driven corporate governance—to explain the role of powerful shareholders and to propose a regulatory scheme that furthers their participation in corporate decision-making. In doing so, the book considers a number of regulatory challenges that confront securities regulators. Ultimately, the book identifies an important trend in capital markets, highlights reasons for fostering this trend, and discusses the path that regulation can and should take in order to protect investors and foster well-regulated markets.

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.

scholarly journals ROLE OF RASAYANA IN RELATION TO CORONA VIRUS (COVID – 19) DISEASE

2021 ◽  
Vol 9 (2) ◽  
pp. 459-465
Author(s):  
Pooja Pawar ◽  
Sanjay Srivastava ◽  
Rajesh Jain
Keyword(s):  
Management Plan ◽  
Epidemic Disease ◽  
Effective Strategies ◽  
Clinical Observations ◽  
Corona Virus ◽  
The People ◽  
Health Related ◽  
Current Scenario ◽  
Anxiety Depression

The pandemic outbreak of COVID – 19 came with extensive health related hazards which lead to econom-ical and psychological problems like fear, stress, sadness, anxiety, depression among the people and is a challenge for humanity to face and fight this comorbidity. Various clinical Observations indicate the inter-action of SARS CoV– 2 viruses with the immune system which plays a significant role in determining the outcome of infection and it is responsible for controlling the immunopathogenesis of coronavirus infec-tion. Early control of this contagious disease within the host, limits its spread. Yet no system of medicine has any evidence-based treatment for COVID – 19. All the doctrine of medicine in the world has tried to develop effective strategies to overcome this disorder. Panchakarma and Rasayana therapy are indicated as an effective management plan for Janpdhodhwamsa Vyadhi (epidemic disease). Preventive use of Ra-sayana in Corona virus in the current scenario to build strong immunity in the peoples and to explore how it modifies the immunity along with use of certain recipes for its management

scholarly journals Investment banking, the certification effect and M&A deals: An event study approach

2017 ◽  
Vol 14 (2) ◽  
pp. 383-402
Author(s):  
Stefano Bonini ◽  
Vincenzo Capizzi ◽  
Renato Giovannini ◽  
Stefano Rossoni
Keyword(s):  
Event Study ◽  
Investment Banking ◽  
Total Sample ◽  
Investment Banks ◽  
Significant Evidence ◽  
Study Approach ◽  
Lehman Brothers ◽  
Before And After ◽  
Time Frames

Several studies have found the existence of a relationship between the role of investment banks appointed as advisors in M&A deals and the yields earned by their clients. Traditionally this relationship is fostered by the ability of the leading investment banks to arrange and structure the best deals – i.e. the Superior Deal Hypothesis – and by the “certification effect”, namely that their presence provides assurance to the capital markets where are traded the companies involved– i.e. the Certification Effect. Our study also investigates the strength and direction of this relationship before and after Lehman Brothers collapse. The analysis, which uses an original composite metric in order to measure the reputation variable, is focused on the transactions that took place between listed companies in two time frames specifically pre and post the Lehman Brothers bankruptcy. The total sample is composed of 229 transactions, divided into 161 and 68 observations, pre and post Lehman respectively. The analysis conducted allows us to separate the Superior Deal Hypothesis from Certification Effect. On evidence, after the Lehman default, the wealth of shareholders involved (both relating to the targets and acquirers) is significantly influenced by the reputation of the investment banks which acted as advisors. Conversely, before the start of the financial turmoil in September 2008, no significant evidence has been found. The analysis conducted suggests that subsequent to the Lehman Brothers collapse, the certification effect has been playing a crucial role in shareholders’ choice.

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