AFF3351

Investment banking

Mr Roger Love

6 points
* 3 hours per week
* First, second semester
* Caulfield
* Prerequisites: AFX1300, AFF2401 and AFX2631

Objectives The student will demonstrate an understanding of the specific coverage of the institutions' operations in the underwriting and marketing of the public issues of securities; its money markets; foreign exchange; investment management; financial advisory services.

Synopsis Introduction to and defining investment banking; development of investment/merchant banking overseas; development of investment/merchant banking in Australia; regulatory system, its operations in Australia and current market perspective; money market operations; foreign exchange operations; underwriting activities: types of securities underwritten, underwriting syndication structuring, risks and pricing underwriting structures; financial advisory work (public and private sector); structural finance and other lending; investment management activities; diversification efforts within Australian finance; problems and institutional failure; comparison of present day investment/merchant banks operations overseas: United States, United Kingdom, Japan, elsewhere in Asia; future direction of investment banking.

Assessment Assignment: 50%
* Examination (3 hours): 50%

Prescribed texts

Bruce and others Handbook of Australian corporate finance 5th edn, Butterworths, 1996