Journal articles: 'Investment bankers'

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Chemmanur, Thomas J., Mine Ertugrul, and Karthik Krishnan. "Is It the Investment Bank or the Investment Banker? A Study of the Role of Investment Banker Human Capital in Acquisitions." Journal of Financial and Quantitative Analysis 54, no. 2 (September 7, 2018): 587–627. http://dx.doi.org/10.1017/s002210901800073x.

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Using a novel data set that links individual investment bankers to the acquisition deals they advise on, we find that individual investment bankers with greater deal experience are associated with higher acquisition returns and post-acquisition operating performance, particularly for acquirers in complex and more opaque industries. The advisory fee on acquisitions is also positively associated with the investment banking team’s experience. Finally, when more experienced investment bankers switch to a new bank, acquirers are more likely to move with them. Overall, our results suggest that the human capital of individual investment bankers is valuable to acquirers.

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Anderson, Gerard F. "Perspective: The Role Of Investment Bankers." Health Affairs 16, no. 2 (March 1997): 144–47. http://dx.doi.org/10.1377/hlthaff.16.2.144.

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Huang, Siyuan, and Xiang Huang. "How Green Bankers Promote Behavioral Integration of Green Investment and Financing Teams—Evidence from Chinese Commercial Banks." Sustainability 15, no. 9 (April 28, 2023): 7350. http://dx.doi.org/10.3390/su15097350.

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Facing the need for green investment and financing brought about by the process of “carbon neutrality”, more and more leaders of commercial banks have begun to initiate green transformation of their enterprises and become green bankers with green finance awareness and vision, while their subordinate green investment and financing teams, as executive units with complementary green finance knowledge, skills, information, and expertise, have become a key link in the bank’s green investment and financing management. Relying on structuration theory and using the multi-case study method, this research analyzes how green bankers promote the behavioral integration of green investment and financing teams from the perspective of team structure construction and deconstructs the process of transforming the development vision of green bankers into green investment and financing practices. Through a pairing study of eight commercial banks, it was found that green bankers can build a green investment and financing team structure to promote their behavioral integration through resources and rules. There are six effective strategies in the construction behavior, including: building a consensus on green finance strategy within the enterprise; guiding the green investment and financing team to exploratively learn green finance knowledge; facilitating collaboration across positions; implementing a fair “result-oriented” salary structure; granting rights to subordinate employees who are competent for green investment and financing tasks; and building a job division and operation mechanism with clear responsibilities. Finally, suggestions are put forward to improve the salary system of green bankers, optimize the training system of green financial talents, and use digital management to ensure the independent authority of green investment and financing positions.

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Warganegara, Doni S., and Dezie L. Warganegara. "Do IPO Hot and Cold Markets Exist at the Indonesia Stock Exchange?" Binus Business Review 5, no. 2 (November 28, 2014): 484. http://dx.doi.org/10.21512/bbr.v5i2.1007.

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This study focuses on IPO Initial Returns in Hot and Cold IPO Markets at the Indonesia Stock Exchange (IDX) between the period of 2001 and 2005. This study uses a regression analysis where the first day IPO stock return is the dependent variable and a dummy variable that represents Hot and Cold IPO Markets is the main independent variabel. It is found that Hot and Cold Markets do exist at the IDX. More importantly, it is found that the difference in IPO Initial Returns between Hot and Cold Markets while controlling for other factors is 36.8%. The Investment Sentiment Hypothesis has been found to explain the existence of Hot and Cold Markets. The hypothesis implies that jumps in IPO Initial Returns during Hot Markets are due to the increase in the first day closing prices which are higher than the increase in the offering prices. The Monopsony Power Hypothesis and information spillovers across IPOs respectively may also provide alternative explanations to the phenomenon. Investment banker community in a small economy learns information from each other and, thus, has full information on the number of firms that will go public in the following period. Consequently, investment bankers have a high bargaining power of investment bankers in lowering the offering prices.

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Roberts, Richard. "What's in a Name? Merchants, Merchant Bankers, Accepting Houses, Issuing Houses, Industrial Bankers and Investment Bankers." Business History 35, no. 3 (July 1993): 22–38. http://dx.doi.org/10.1080/00076799300000085.

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PERERA, RYLE S., and KIMITOSHI SATO. "THE IMPACT OF SAVINGS WITHDRAWALS ON A BANKER’S CAPITAL HOLDINGS SUBJECT TO BASEL III ACCORD." Annals of Financial Economics 15, no. 02 (June 2020): 2050006. http://dx.doi.org/10.1142/s2010495220500062.

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In this paper, we analyze the impact of savings withdrawals on a bank’s capital holdings under Basel III capital regulation. We examine the interplay between savings withdrawals and the investment strategies of a bank, by extending the classical mean–variance paradigm to investigate the bankers optimal investment strategy. We solve this via an optimization problem under a mean–variance paradigm, subject to a quadratic optimization function which incorporates a running penalization cost alongside the terminal condition. By solving the Hamilton–Jacobi–Bellman (HJB) equation, we derive the closed-form expressions for the value function as well as the banker’s optimal investment strategies. Our study provides a novel insight into the way banks allocate their capital holdings by showing that in the presence of savings withdrawals, banks will increase their risk-free asset holdings to hedge against the forthcoming deposit withdrawals whilst facing short-selling constraints. Moreover, we show that if the savings depositors of the bank are more stock-active, an economic expansion will imply a greater reduction in bank savings. As a result, the banker will reduce his/her loan portfolio and will depend on high stock returns with short-selling constraints to conform to Basel III capital regulation.

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Porrini, Patrizia. "Are investment bankers good for acquisition premiums?" Journal of Business Research 59, no. 1 (January 2006): 90–99. http://dx.doi.org/10.1016/j.jbusres.2005.03.009.

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Lawrence Kuhn, Robert. "How to Work With Your Investment Bankers." Journal of Business Strategy 9, no. 4 (April 1988): 58–60. http://dx.doi.org/10.1108/eb039246.

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Hassan, Adamu, and Zubairu Ahmad. "Money Market Indicators and Stock Market Volatility in Nigeria: Evidence from GARCH-in-Mean Model." East African Scholars Journal of Economics, Business and Management 5, no. 9 (October 30, 2022): 263–68. http://dx.doi.org/10.36349/easjebm.2022.v05i09.003.

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This study examines the impact of money market variables on stock market volatility in Nigeria using an annual dataset from 1985 to 2021. Indicators of the money market, including certificates of deposit, commercial papers, bankers' acceptance, and treasury bills, were employed in the study. The Generalized Autoregressive Conditional Heteroskedasticity (GARCH-in mean) model was used to generate volatility of stock market index and a nexus between the variables. The findings showed that while commercial paper and treasury bills have no effect on stock market volatility in Nigeria, certificates of deposit and bankers' acceptance do. This study suggests increasing investment in money market indicators, particularly a certificate of deposit and bankers' acceptance, to lower investment risk and volatility of the stock market index.

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10

Giuffra, Robert J. "Investment Bankers' Fairness Opinions in Corporate Control Transactions." Yale Law Journal 96, no. 1 (November 1986): 119. http://dx.doi.org/10.2307/796437.

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Gallo, Luis G. "The value-added of investment bankers in privatizations." Columbia Journal of World Business 28, no. 1 (March 1993): 196–205. http://dx.doi.org/10.1016/0022-5428(93)90066-x.

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Sattler, Friederike. "Neuer Aufbruch ins globale Bankgeschäft: Die Personal- und Steuerungsprobleme der Deutschen Bank beim Einstieg ins internationale Investmentbanking." Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 64, no. 2 (November 1, 2023): 407–32. http://dx.doi.org/10.1515/jbwg-2023-0015.

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Abstract The article examines the genesis, perception and handling of the staffing and governance problems of Deutsche Bank, which stemmed from its entry into international investment banking in the mid-1980s and which have remained virulent into the bank’s recent past. Why was it not possible to prevent the blatant, extremely costly and permanently reputation-damaging breaches of rules by many investment bankers in this business area? An important explanatory factor seems to be the only half-hearted adherence to the concept of a global universal bank with integrated investment banking, while investment banking – which expanded strongly through the acquisitions of Morgan Grenfell (1989) and Bankers Trust (1998) – was de facto granted extensive autonomy within the group and a continuous but not precisely recorded transfer of resources by the parent company.

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Syamlan, Yaser Taufik, and Reti Rahma Easti. "Islamic Retirement Planning Among Indonesian Bankers." Equilibrium: Jurnal Ekonomi Syariah 8, no. 1 (May 20, 2020): 25. http://dx.doi.org/10.21043/equilibrium.v8i1.6565.

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<p><em>This study aims to analyze differences in demographic factors towards retirement planning behavior according to Islamic perspective. This research wants to analyze the influence of clarity of purpose, retirement attitude and potential conflict towards retirement planning behavior according to among the Muslim who is working in a conventional bank and the Islamic Bank. The sample used in this study as many as 270 respondents of both conventional & Islamic Banker in Indonesia. There are two methods that are used in this research which are ANOVA and Multiple Linear Regression. The results identified several demographic variables that were significant such employment status (either working in the conventional bank or Islamic Bank) and income level. Furthermore, some demographic variables do not significant including age, number of dependents and level of education. This research also shows that non-demographic variables such as clarity of purpose, retirement attitudes and potential conflicts affect significantly to influence the behavior of bankers in retirement planning according to Islamic perspective. In conclusion, the conventional Muslim bankers know that they should manage their retirement according to the Shariah value. However, some of them didn’t believe that the Shariah investment instrument can fulfill their desired retirement goals. </em></p>

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Pak, Susie J. "Reputation and Social Ties: J. P. Morgan & Co. and Private Investment Banking." Business History Review 87, no. 4 (2013): 703–28. http://dx.doi.org/10.1017/s0007680513001104.

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Focusing on the private investment bank of J. P. Morgan & Co., this article examines the unique perspective that the history of private investment banking offers the study of reputation with regard to the role of social ties. Drawing from a larger study that looks at intersecting social and economic networks of New York private bankers before the Second World War, the article studies the ways in which the Morgan partners' social networks worked to maintain their reputation by creating an institutional structure for firm cohesion, establishing access to information and resources outside the firm, and fostering a culture of exclusivity that signaled the firm's standing and its ties relative to their competitors or other elite bankers.

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Hamid, Md Kaysher. "Determinants of Non-Performing Loans: Perception of Bankers in Bangladesh." International Journal of Research and Innovation in Social Science VII, no. XII (2024): 1975–89. http://dx.doi.org/10.47772/ijriss.2023.7012152.

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This study attempts to explore the determinants of non-performing loans in banking sector of Bangladesh based on the perception of bankers. To represent the bank-specific determinants of non-performing loans, bank profitability, lending rate, bank total assets, transparency in loan authorization, credit assessment, bank age, and corporate governance are considered. On the other hand, gross domestic product, inflation rate, unemployment rate, exchange rate, foreign direct investment, and export growth are used to represent macroeconomic determinants. Bankers working in Dhaka city have been considered as the sample of this study. Opinions of 144 bankers regarding the selected determinants of non-performing loans have been collected through a structured questionnaire. Based on the collected data, descriptive analysis, correlation analysis, and regression analysis have been conducted. In the analysis, bank total assets, transparency in loan authorization, bank age, inflation rate, and unemployment rate have depicted a positive impact on non-performing loans where bank profitability, lending rate, credit assessment, corporate governance, gross domestic product, exchange rate, foreign direct investment, and export growth have shown a negative impact. However, among these, significant impact has been identified only for bank total assets, bank age, corporate governance, gross domestic product, inflation rate, and foreign direct investment.

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Donkor, Jacob, Victoria Akohene, and Stephen Acheampong. "Behavioural Factors and Investment Decisions of Bankers in Ghana." British Journal of Education, Society & Behavioural Science 18, no. 3 (January 10, 2016): 1–8. http://dx.doi.org/10.9734/bjesbs/2016/23353.

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Daily, Catherine M., S. Trevis Certo, and Dan R. Dalton. "Investment bankers and IPO pricing: does prospectus information matter?" Journal of Business Venturing 20, no. 1 (January 2005): 93–111. http://dx.doi.org/10.1016/j.jbusvent.2003.10.003.

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Morales-Camargo, Emmanuel. "Restrictions on Allocation Discretion: Evidence from Clawbacks in Hong Kong IPOs." Quarterly Journal of Finance 03, no. 03n04 (September 2013): 1350018. http://dx.doi.org/10.1142/s2010139213500183.

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The presence of both restricted and unrestricted, US-style, bookbuilt initial public offer (IPOs) in Hong Kong provides an ideal environment to test numerous underpricing models by simultaneously measuring the effects of allocation restrictions on the investment bankers' price discovery, underwriting, and distribution functions. While clawbacks, a set of allocation restrictions favoring retail investors not participating in the roadshow result in diminished and more expensive price discovery, they also reduce the investment bankers' dependence on institutional investors to dispose off IPO shares, resulting in lower underpricing. This favors models that highlight the importance of the underwriting function on underpricing, and shows that allocation restrictions can impact more than just price discovery. In addition, this study shows that individual investors can partially offset the loss of roadshow information caused by clawbacks, countering the idea that investment banks are unable to extract any pricing information from investors outside their list of roadshow regulars.

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Ma, Tianyi, Minghui Jiang, and Xuchuan Yuan. "Optimize the Banker’s Multi-Stage Decision-Making and the Mechanism of Pay Contract Influencing on Bank Default Risk in the Long-Term Model." Sustainability 12, no. 4 (February 14, 2020): 1400. http://dx.doi.org/10.3390/su12041400.

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In recent years, researchers have been devoted to illustrating the correlation between bankers’ pay contracts and a bank’s risk-taking behavior where corporate governance is concerned, especially throughout the past four decades and by using empirical analysis. Despite being a widespread concern, the causality of this relationship is not thoroughly understood. We initiate this research by modeling bankers’ multi-stage decisions of option investment and bond investment from the perspective of theoretical analysis, and by analyzing the function image results using data from Wells Fargo & Co. from the ExecuComp, BvD Orbis, and CRSP-COMPUSTAT databases. We aim to deeply explore the mechanism of how compensation influencing on risk. We are the first to find that it has a “risk cap”, which is the optimal risk level to maximize the return of decision-making. We are also the first to discover the optimal decision coefficient level to maximize the decision return, during which the internal causes and mechanisms of the impact of bankers’ compensation on a bank’s default risk are revealed. We also illustrate the influence of the number of periods. We expect our findings to provide advice for establishing policies when designing pay contracts.

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Agha, Hina, and Dr Mubashir Ali Khan. "Financial Literacy and Investment Intention in Financial Assets: A systematic Literature Review Synthesis." Journal of Policy Research 9, no. 3 (September 30, 2023): 213–22. http://dx.doi.org/10.61506/02.00108.

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The purpose of this study is to contribute through highlighting importance of FL while investments in financial assets. In this study, we use systematic literature review approach to evaluate the impact of FL on investment intention in financial assets. This review has many conceptual and theoretical implication as it provides a deep understanding of impact of FL on investment intention, which could be very useful for finance practitioners. More specifically, the study aims to provide useful information to strategist in financial firms, advisors to state, investors who trade on the stock exchange, fund managers, financial analyst and strategist, investment bankers, traders/brokers at the stock exchange, policymakers, academics and market players to make effective decisions, as well as provide suggestions for potential future actions for the government to encourage investment by households by understanding the nature of their problems. This study contributed conceptually as one of the few and authentic SLRs which highlights the importance of FL influence on financial assets investment intentions by presenting the authentic and contemporary published literature on the specific subject.

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MAXFIELD, SYLVIA. "Bankers' Alliances and Economic Policy Patterns." Comparative Political Studies 23, no. 4 (January 1991): 419–58. http://dx.doi.org/10.1177/0010414091023004001.

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This article suggests an organizational or institutional explanation of economic policy patterns which differs significantly from state- or society-centered explanations and those based on international factors. Bankers' alliances, defined as interest coalitions of public and private financiers, play an important role in shaping economic policy. The stronger the bankers' alliance, the more likely that long-run economic policy patterns will feature orthodox policies such as tight monetary policy and limited government intervention in financial or foreign exchange markets. The historical organization of state economic agencies, and of capital, create national environments more or less conducive to formation of strong bankers' alliances. The three key variables center on: (a) the timing and actors involved in central bank formation, (b) the relationship between the central bank and other state economic policy-making agencies, and (c) the extent of conglomeration between industrial and financial enterprises and its impact on state control of investment financing. Comparative history of the Mexican and Brazilian cases provides preliminary evidence with which to explore the proposed relationship between organizational features of the state and capital, the political influence of bankers' alliances, and economic policy patterns.

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UŢĂ, Cristian. "LIAQUAT AHAMED Lords of Finance: The Bankers Who Broke the World." Annals of "Spiru Haret". Economic Series 14, no. 3 (September 30, 2014): 73. http://dx.doi.org/10.26458/1438.

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LIAQUAT AHAMEDLords of Finance: The Bankers Who Broke the WorldTranslator: Dana-Ligia IlinHumanitas Publishing House, Bucharest, 2014 Former, among others, economist of the World Bank (led its investment division) and director of an investment fund, Liaquat Ahamed began working at the Lords of Finance long before the crisis of 2008. However, its appearance in 2009 has increased dramatically its relevance. As a result, the Financial Times the New York Times, Time magazine and Amazon.com declared the volume Best book of the year, simultaneously, its author being awarded the Pulitzer Prize for History.

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JONKERS, FRANS. "CITY BANKERS, GOLD, AND BANKING PANICS." Historical Journal 42, no. 1 (March 1999): 285–91. http://dx.doi.org/10.1017/s0018246x98008395.

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City Bankers, 1890–1914. By Youssef Cassis. Cambridge: Cambridge University Press, 1994. Pp. xv+350. ISBN 0-521-44188-9. £40.00.John Bullion's empire: Britain's gold problem and India between the wars. By G. Balachandran. Richmond: Curzon Press, 1996. Pp. xii+252. ISBN 0-7007-0428-0. £40.00.The banking panics of the Great Depression. By Elmus Wicker. Cambridge: Cambridge University Press, 1996. Pp. xviii+174. ISBN 0-521-56261-9. £30.00.The front cover of Cassis's book shows the heavily bearded and mustachioed directors of the Bank of England, gathered in 1903 in the magnificent Court Room. The City was at its peak, the undisputed financial capital of the world. Its interests were the major determining influence on British economic policy. The Bank of England directors were selected, according to ancient tradition, from the City's most prestigious trading houses, including the merchant banks. Towards the end of the nineteenth century it had become obvious that banking was undergoing a radical transformation. A revolution in the structure of English banking had caused the near-disappearance of the old country banker; private family-owned banking firms were under severe pressure and many had been absorbed by the joint-stock banks. However, much had remained the same. It is one of the virtues of Cassis's book, which focuses on the top layer of City bankers, that it shows how much continuity there was. The old private banker fitted smoothly into the new, larger banks. The occupation of private banker, carried out within a family firm, continued to represent the ideal. Banking remained a not particularly onerous job. The typical City banker was a part-timer, who used his position and representation on the boards of other financial companies as a means of furthering his own business interests – he had to, because a board position alone did not pay enough to live like a gentleman. Banking was a respectable way of building up a fortune. The City's strength was its private information network of social and business relationships which made the highly specialized financial system possible but also created opportunities to make money privately. The author shows that the distribution of tasks within the City, as well as the reluctance of the big joint-stock banks to develop into continental-style investment banks, eminently suited the private interests of the board members, ‘as though the primary aim of the big deposit banks... was to make possible the activities of the private banking and trading firms and the overseas ventures of the partners of these firms’. What is now considered insider trading was an accepted form of business. There were few professional bank managers; those there were had generally risen through the ranks and had a lower social status. The City's playing field was never intended to be level and appears to have become even more slanted in the period before the First World War.

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Ehrig, Timo, Konstantinos V. Katsikopoulos, Jürgen Jost, and Gerd Gigerenzer. "An exploratory study of heuristics for anticipating prices." Management Decision 59, no. 7 (June 29, 2021): 1750–61. http://dx.doi.org/10.1108/md-05-2021-0619.

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PurposeThis research explores how investment and central bankers cope with strategic uncertainty when they anticipate prices. The uncertainty originates from others' decisions and their consequences, and cannot be meaningfully reduced to risk. The authors postulate that, in order to cope with this type of uncertainty, bankers use simple rules, also called heuristics. This study aims to identify such heuristics and the psychological processes that underlie them.Design/methodology/approachThe authors interviewed 22 managers of teams tasked to anticipate prices, in two leading investment and central banks. The primary data came from in-depth, semi-structured interviews lasting 30–60 min, supplemented by our observations during the on-site visits, emails and phone calls when preparing the interviews, and reports published by the banks. Data were coded and heuristics were induced over multiple rounds by multiple researchers.FindingsBankers (1) construct simple game representations of markets, (2) make inferences to gauge opponents, (3) become alert when they see too much agreement and (4) communicate coherent narratives. Heuristics (1)–(3) are employed when the pace of decision-making is fast, whereas (4) is used for longer time scales. In sum, bankers exhibit reciprocal bounded rationality, wherein interaction partners are mutually aware of and adapted to the fundamental uncertainty of the task and their limited resources.Originality/valueHeuristics for anticipating prices have not been studied empirically outside the lab. The findings may help integrate conceptualizations of heuristics in the simple-rules and fast-and-frugal-heuristics research programs and improve market efficiency.

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Selmier, W. Travis. "An institutional perspective on governance, power, and politics of financial risk." Business and Politics 19, no. 2 (June 2017): 215–40. http://dx.doi.org/10.1017/bap.2017.8.

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AbstractAvoidance of risk and increasing returns are the two main motivators in finance. Returns are better understood and perhaps more easily regulated than financial risk, which is a complex and slippery concept. Financial risk may be best conceived of as a complementary good, but the nature of this good varies as the size of the investment position scales up. That is, the effects of financial risk may be conceived of as a private good for a small financial actor, but becomes a club good, then a common pool, and occasionally a public good as the impact of the investment position's financial risk spreads to affect more of society. Examining banking history shows us that banks and bankers have offset risk while retaining returns through structuring financial products and investment vehicles as club goods, thereby enabling financial actors to jointly benefit from ownership while harming those outside the club walls. Not surprisingly, this capacity to push risk outside club walls has grown commensurate with the political influence of banks and bankers. Laying out governance strategies and concepts, I suggest that in some circumstances pervasive club good structures in finance may be employed to gather regulation-enhancing information, to better understand the networked nature of financial risk and to craft self-governance structures.

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Chen, Zhaohui, Alan D. Morrison, and William J. Wilhelm. "Investment Bank Reputation and “Star” Cultures." Review of Corporate Finance Studies 2, no. 2 (August 6, 2013): 129–53. http://dx.doi.org/10.1093/rcfs/cft003.

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We develop a model in which individual and institutional reputation concerns conflict with one another to study why investment bank reputation concerns may have diminished in recent years. Unproven but talented bankers have incentive to signal their ability through actions that may or may not best serve their clients. In the spirit of Kreps (1990), we treat the bank as a hierarchical firm whose only asset is its institutional reputation for curbing behavior that is suboptimal for the client. The conflict between individual and institutional reputation concerns is more likely to resolve in favor of institutional reputation when firms recruit only the most talented people, and less so when unique ability is especially valuable. We discuss how technological change has contributed to a “star” culture that is unfavorable toward preservation of institutional reputation.

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Kapstein, Ethan Barnaby. "Between power and purpose: central bankers and the politics of regulatory convergence." International Organization 46, no. 1 (1992): 265–87. http://dx.doi.org/10.1017/s0020818300001508.

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In the early 1980s, when the debt crisis threatened to disrupt the pattern of trade and investment flows that had evolved since the end of World War II, central bankers faced the challenge of maintaining public confidence in the commercial banks that were at the heart of the international payments system. Although the central bankers agreed that a run on one international bank could lead to a global catastrophe requiring massive government intervention, they did not initially agree on a policy project to strengthen the international payments system. In analyzing central bank cooperation and the processes leading to the adoption of a single international capital adequacy standard, this article argues that agreement on a uniform standard was due to a combination of political power and shared purpose on the part of the United States and Britain. While the article does not argue that the central bankers were an epistemic community as defined in this issue, it further explores the conditions under which epistemic communities are likely to arise.

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Mauko, Arfan, Muslimin B, and Putu Sugiartawan. "Sistem Pendukung Keputusan Kelompok pemilihan Saham LQ45 dengan menggunakan metode AHP, Promethee dan BORDA." Jurnal Sistem Informasi dan Komputer Terapan Indonesia (JSIKTI) 1, no. 1 (September 30, 2018): 25–34. http://dx.doi.org/10.33173/jsikti.6.

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Investments shares on the Indonesia Stock Exchange is one of the investment with a high rate of return. Stock investment profit greatly influenced by the selection of the right stocks in a portfolio. Analyzing the uncertainty of a stock investor can involve the process of stock selection in group decision which includes investors, investment bankers, analysts, and brokers. Stock selection as a group can produce a stock portfolio with a higher rate of profit than the results of individual decision-making. Implementation of stock selection in group decision support systems (GDSS) used two economic approaches, namely fundamental analysis, and technical analysis. Fundamental analysis uses data financial ratios which have a significant influence on the development of a company's stock. Technical analysis is a stock valuation based on stock movement data time series. This research using AHP, PROMETHEE, and Borda to accommodate the results of shares in group decision making. This research resulted in ranking stocks as a group that can serve as recommendations for investors stock picking.

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Chandler, Jeffrey, Nathan Hayes, Oleg V. Petrenko, and Vitaliy Skorodziyevskiy. "Investment Bankers and IPO Pricing: Do the Personal Attributes of CEOs Matter?" Academy of Management Proceedings 2019, no. 1 (August 1, 2019): 18067. http://dx.doi.org/10.5465/ambpp.2019.18067abstract.

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Benveniste, Lawrence M., and Paul A. Spindt. "How investment bankers determine the offer price and allocation of new issues." Journal of Financial Economics 24, no. 2 (January 1989): 343–61. http://dx.doi.org/10.1016/0304-405x(89)90051-2.

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Sukiasyan, Asatur Albertovich, Vitaly Fedorovich Ershov, Vadim Eduardovich Poletaev, Maksim Sergeevich Menshikov, and Rakhimyan Galimyanovich Yusupov. "The impact of technological and institutional transformation of the global financial market on education." Revista Tempos e Espaços em Educação 14, no. 33 (October 11, 2021): e16559. http://dx.doi.org/10.20952/revtee.v14i33.16559.

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The article is devoted to forming new educational directions conditioned by the technological and institutional transformation of the global financial market in the 21st century. The modern digital economy puts forward new requirements for the competencies and professional ethics of specialists working in the investment sphere. The authors have identified the key factors determining the tasks of modernizing the training of financial analysts, bankers, and lawyers specializing in investment law. The problem concerns issues of digitalizing and globalizing investment flows, forming investment ecosystems, and expanding the participation of large financial businesses in educational projects. The authors conclude that global technological and socio-economic transformations stimulate the entire financial world, including Russia, to revise their business models, and the spheres of financial and specialized legal education – to actively modernize according to market requirements.

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Blake, David. "The Great Game Will Never End: Why the Global Financial Crisis Is Bound to Be Repeated." Journal of Risk and Financial Management 15, no. 6 (May 31, 2022): 245. http://dx.doi.org/10.3390/jrfm15060245.

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This article re-examines key explanations of the Global Financial Crisis—product complexity, behavioural biases in decision making, systemic risk, and regulatory arbitrage and capture—and finds a common underlying cause, namely gaming by personnel at all levels in the banking sector and its regulators. This has enabled banks to use highly leveraged, maturity-mismatched investment strategies, which were designed so that the banks retained the upside rewards, but transferred the downside risks to taxpayers, leading to the privatization of profits and the socialization of losses—behaviour that has been described as ‘banksterism’. Although governments have introduced some significant mitigatory measures, they will not be effective in preventing future financial crises, because they do not and, indeed, cannot provide the appropriate incentives to end the Great Game between bankers and taxpayers, which would involve making bankers, rather than taxpayers, personally liable for losses.

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Islam, Mohammad Saiful, and Dulal Chandra Pattak. "The Dimensions Affecting Investment Resulting Stabilized Economic Growth in Bangladesh: Perception Analysis of Investors and Bankers." Studies in Business and Economics 12, no. 1 (April 1, 2017): 85–94. http://dx.doi.org/10.1515/sbe-2017-0007.

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AbstractThe purpose of the study is to identify the impact of some assumed dimensions as vital reasons for investment sluggishness in Bangladesh resulting stabilized GDP growth rate around 6 percent over last decade in spite of having some favorable microeconomic and macroeconomic indicators such as controlled inflation rate, huge foreign exchange reserve, export growth etc. The study is descriptive in nature where correlation, regression and trend analysis have been conducted from the data of primary and secondary sources. The result of the analysis shows that mainly five important dimensions of investment sluggishness named high lending interest rate, corruption in public and private organizations, political unrest, inadequate power generation and supply and infrastructure problem are significantly affecting investment sluggishness in Bangladesh resulting stabilized GDP growth rate. At the end of the research paper, some measures have been recommended to overcome the obstacles of investment growth.

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Bhatia, Shikha, and Sanjay Dhamija. "Mamaearth IPO: the pricing dilemma of a startup." Emerald Emerging Markets Case Studies 14, no. 2 (July 18, 2024): 1–36. http://dx.doi.org/10.1108/eemcs-10-2023-0381.

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Learning outcomes After working through the case and assignment questions, students will be able to recognize essential considerations for the initial public offerings (IPO) decision, compare different types of fundraising options for startups, evaluate the free pricing regime for IPO pricing, examine the pricing process of IPOs, explore the issue of valuation of IPOs and assess the decision choices of the founder regarding IPO given the trade-offs and market conditions. Case overview/synopsis The case study explores the dilemma of Ghazal Alagh, the co-founder and chief innovation officer of Mamaearth, a direct-to-consumer babycare and skincare unicorn, regarding its IPO decision. Mamaearth had filed the draft offer document with SEBI in December 2022, and Ghazal was busy engaging with the investment bankers for the upcoming IPO. However, the weak market sentiments and shelving of IPO plans by many startups were forcing her to think about facing the possibility of postponing the IPO or continuing the IPO process but at lower valuations. The case study provides an opportunity to explore a startup’s financing choices. It allows for discussion of various IPO challenges from the perspectives of founders, venture investors, regulators, investment bankers and new IPO investors. Complexity academic level This case study is best suited for senior undergraduate- and graduate-level business school students in courses focusing on entrepreneurship, corporate finance, financial management, strategic management and investment banking. Subject code CSS1: Accounting and finance. Supplementary materials Teaching notes are available for educators only.

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Gilbert, Paul Robert. "Bangladesh as the “Next Frontier”? Positioning the Nation in a Global Financial Hierarchy." Public Anthropologist 1, no. 1 (January 22, 2019): 62–80. http://dx.doi.org/10.1163/25891715-00101005.

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In this article, I examine the relationship between the speculative projects embarked upon by young entrepreneurs and bankers in Dhaka during 2013, and the attempts made by analysts and nation-branding experts to present Bangladesh as a worthy “frontier” for speculative foreign investment. In order to induce others to speculate on their visions for Bangladesh, they variously positioned the nation via reference to the ratings imposed on it by credit rating agencies, the emergence of regional hegemons including members of the brics, and the apparent decline of “formerly” developed European nations. As purchasing power comes to mark a nation’s position within a hierarchical global market, nationhood comes to be recast as consumer-citizenship. The speculative imaginaries projected by these entrepreneurs, bankers and nation-branding experts have the capacity to both reinforce and rework the hierarchies into which “frontier” nations are routinely placed by analysts in global financial centres.

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Reddy, K. Srinivasa. "Regulatory framework of mergers and acquisitions." International Journal of Law and Management 58, no. 2 (March 14, 2016): 197–215. http://dx.doi.org/10.1108/ijlma-03-2015-0013.

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Purpose – The purpose of this paper is to present various institutional laws that refer to mergers and acquisitions (M & As) in India and recommend a few guidelines for institutions and multinational managers participating in foreign investment and acquisition deals. Design/methodology/approach – The study is intended to review, summarize and discuss the legal framework that adheres to M & As, takeovers and foreign investment. Findings – Major observations from the comprehensive review include the fact that higher-valuation inbound deals have been delayed or have failed because of a weak financial infrastructure, erratic nature of government officials and political intervention, and the newly elected government has aimed to attract higher inflow of investments from other developed and emerging markets by easing investment rules and offering tax holidays. Research limitations/implications – This paper, indeed, reflects unseen empirical observation with regard to the characteristics of the market for acquisitions in the given country, which has been left to further research. Practical implications – The comprehensive review of acquisition laws in India and recommendations would help prospective stakeholders, namely, policymakers, M & A advisors, legal consultants, investment bankers, multinational managers and private equity firms. Originality/value – This study presents atypical work, which presents a review of M & A laws in India, and it recommends fruitful guidelines for institutions in general and managers in particular.

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Man Singh, Bal Krishna, and Bishwambher Pyakuryal. "Benefits of Economic Liberalization in Growth and Development of Industry: With Reference to Butwal Industrial Area of Nepal." International Research Journal of MMC 2, no. 2 (June 30, 2021): 26–37. http://dx.doi.org/10.3126/irjmmc.v2i2.38145.

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Economic liberalization policy is important to speed up the development activities. Nepal has been following the policy of economic liberalization since the mid-1980s which was accelerated with the start of 1990s. Nepal adopted economic liberalization to minimize public expenditure burden of loss-making public enterprises, mobilize private savings, investments, and FDI (Foreign Domestic Investment) as well as to meet Multilateral Donors conditions of economic reform. The study was conducted to identify the benefit of economic liberalization in industrial growth and development in Nepal. The study was conducted in the Butwal area of Province 5. It was a cross-section study based on the quantitative design. There was total 385 respondents selected from among the industrialists, traders, and bankers. The result shows that there were positive impactson the various economic indicators of industry like quantitative restrictions in trade had been removed, bilateral trade agreement facilitated free flow of goods and services, deregulated the monopoly of market, controlling in price structure, privatization of public services, flexibility in the exchange rate, elimination of import license and quotas, liberalization of foreign investments, High and sustained growth through market-based resource allocation, infusion of competition in the economy, reduction of state domination, and encouragement of private participation in economic activities were the added advantages of liberalization. There was significant difference in the response of industrialists, traders and bankers on benefit of economic liberalization in industrial growth and development in Nepal such as promotion of free trade, deregulation of the monopoly market, elimination of subsidies, price controls and other more benefits.

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Thiemann, Matthias, Tim Büttner, and Oliver Kessler. "Beyond market neutrality? Central banks and the problem of climate change." Finance and Society 9, no. 1 (March 22, 2023): 14–34. http://dx.doi.org/10.2218/finsoc.8090.

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Starting with a landmark 2015 speech by Mark Carney on the ‘Tragedy of the Horizon’, climate change entered central banking discourse, causing some of its key convictions to come under new scrutiny. This article traces how initially climate change was firmly embedded in a conventional framework of ‘market completion’ that would allow financial markets to price in the negative externality. Yet, over the course of the last seven years, central banks have repositioned their role regarding this problem, taking on a much more active stance which calls into question the notion of ’market neutrality’. To trace these discursive changes, this article identifies three discursive layers formed around market-based mechanisms, responsible investment and monetary policy. We show that in the unfolding of the debate, the issue of climate change has altered the self-understanding of central bankers and driven them towards a more active stance where they acknowledge that central bankers shape and make, and not only ‘mirror’, market forces.

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Johan, Zaimy Johana. "Investors with the Golden-i: Preference in Gold-i Investment." Journal of Emerging Economies and Islamic Research 8, no. 2 (May 31, 2020): 36. http://dx.doi.org/10.24191/jeeir.v8i2.8668.

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Gold price has risen recently after the United States implemented a drastic monetary action by reducing interest rate to almost zero to cushion the effect of Covid-19 pandemic on the economy. However, what has actually triggered the gold price could be beyond Covid-19. Therefore, this study examines the factors influencing customers’ preference in gold investment (Gold-i). Two variables; inflation and income growth are significant while interest rate is not significant in relation to Gold-i preference. Since interest rate relates to the strength of US Dollar, central bank reserves and investment demand, it could be postulated that during the study in 2019, interest rate and gold price had risen in tandem. This research further enriches knowledge and contributes to advancement of research in gold investment, hence enabling researchers, bankers, investors, trade policy makers to further understand the investment in gold-i during economic crises, in particular the current recession triggered by the Covid-19 pandemic.

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Demski, Joel S. "Corporate Conflicts of Interest." Journal of Economic Perspectives 17, no. 2 (May 1, 2003): 51–72. http://dx.doi.org/10.1257/089533003765888421.

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This paper surveys conflicts of interest in the corporate governance arena, with emphasis on auditors, boards of directors, analysts and investment bankers, regulators, management, attorneys and investors. Enron provides a host of examples as well. I stress the multifaceted nature of these conflicts, and the fact most research looks at some conflicts, such as auditor independence, absent the larger setting and potential interactions among various players. I further speculate herding behavior is an important explanatory device in understanding periodic failures.

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Doukas, John A., and Halit Gonenc. "Long-term Performance of New Equity Issuers, Venture Capital and Reputation of Investment Bankers." Economic Notes 34, no. 1 (February 2005): 1–34. http://dx.doi.org/10.1111/j.0391-5026.2005.00142.x.

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Vit, Gregory B. "The Multiple Logics of Conformity and Contrarianism: The Problem With Investment Banks and Bankers." Journal of Management Inquiry 16, no. 3 (September 2007): 217–26. http://dx.doi.org/10.1177/1056492607305893.

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Bashir, Abdel-Hamid M. "Equity Participation Contracts and Investment." American Journal of Islam and Society 9, no. 2 (July 1, 1992): 219–32. http://dx.doi.org/10.35632/ajis.v9i2.2556.

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Profit-sharing contzacts have recently captured the attention of academicians,bankers, and policymakers, particularly those in the Middle East. These contractsare characterized by risk sharing, an element that forces the contracting parties(especially the financier) to fund only sound projects. The theoretical analysesof such contracts have received a major boost from a variety of models, includingKhan (1986) and Haque and Mirakhor (1986), and empirical support from, forexample, Darrat (1988) and Bashir et al. (1991). The bold claim of these modelsis that if the interest payment on financial capital were to be replaced by the profit sharingarrangement, the level of investment would be enhanced instead ofweakened.A commonly used profit-sharing financial contract is known as musharakah(equity participation). This contract is a limited partnership in which theinvestor(s) and the entrepreneur pool their capital to finance a specific investmentproject. Another version of musharukah involves the investor participating inan existing enterprise by contributing capital. In both cases, the pro-ratadistribution of profit is stated in the contract and losses are shared accordingto capital contribution. The investor is eligible to participate in the project’smanagement, but may also waive this right.’A musharakah arrangement can be modeled as a two-person, two-periodpartnership game. In this setup, each player‘s utility depends on the other player’saction through a commonly observed consequence (profit), which is itself afunction of both players’ actions and an exogenous stochastic environment. Thegame is thus one of decentralized decision making in which individual optimizers ...

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Ribov, Manol. "Financing the new economic growth in Europe." Economic Thought journal 59, no. 5 (October 19, 2014): 160–65. http://dx.doi.org/10.56497/etj1459506.

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On 4-5 June this year, the European Monetary and Financial Forum held its XXXI Regular Session on "Money, regulation and growth: financing new growth in Europe". The event was hosted by the Community of European Universities, based at the Baffi Center - Bocconi University, Milan. 110 central bankers and academics from the US, the UK, France, Israel, the Netherlands, Germany, Canada, Italy, Austria and other countries participated, as well as representatives from important European institutions such as the European Central Bank, the Bank for International Settlements and the European Investment Bank.

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Bhuiyan, Mohammad Zahid Hossain, Md Mahi Uddin, Afzal Ahmad, and Nazamul Hoque. "Does investment in human resource development affect financial performance? Empirical evidence from the banking sector of Bangladesh." IIUC Studies 14, no. 2 (December 20, 2017): 35–54. http://dx.doi.org/10.3329/iiucs.v14i2.39879.

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The study aims at examining the impact of investment in human resource development (HRD) on the financial performance of the banking sector of Bangladesh. Using the economic data as well as survey data collected from purposively selected 120 bank executives of 20 private commercial banks of Bangladesh. The study through regression models finds that there is a significant positive correlations between HRD investment (in salaries and allowances, provident fund and gratuity, bonus and incentives, staff welfare and training, workshop, and seminar) and financial performance of the sample banks. Though, training is one of the important HRD indicators, the lowest investment was made in this sector by the sample banks. The findings of the study may be useful for bankers, policymakers, HR professionals, and the stakeholders of all types of organizations regardless of the geographical boundary. Finally, further investigations on manufacturing and other service sectors through case study, focus groups, and longitudinal study are also suggested. IIUC Studies Vol.14(2) December 2017: 35-54

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Frydman, Carola, and Eric Hilt. "Investment Banks as Corporate Monitors in the Early Twentieth Century United States." American Economic Review 107, no. 7 (July 1, 2017): 1938–70. http://dx.doi.org/10.1257/aer.20150143.

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We study the effect of financial relationships on firms' investment decisions and access to external finance. In the early twentieth century, securities underwriters commonly held directorships with American corporations. Section 10 of the Clayton Antitrust Act prohibited bankers from serving on the boards of railroads for which they underwrote securities. We find that following the implementation of Section 10, railroads with strong preexisting relationships with underwriters saw declines in their investment rates, valuations, and leverage, and increases in their costs of external funds. Reassuringly, we do not observe similar effects among industrials and utilities, which were not subject to Section 10. Our results are consistent with underwriters on corporate boards acting as delegated monitors, and highlight the potential for regulations intended to address conflicts of interest to disrupt valuable information flows. (JEL G24, G31, G32, G34, K22, N21, N22)

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Beck, Anat, Robert Rapp, and John Livingstone. "Investment Bankers as Underwriters—Barbarians or Gatekeepers? A Response to Brent Horton on Direct Listings." SMU Law Review Forum 73, no. 1 (December 2020): 251–68. http://dx.doi.org/10.25172/slrf.73.1.22.

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Hall, Sarah. "Financialised Elites and the Changing Nature of Finance Capitalism: Investment Bankers in London's Financial District." Competition & Change 13, no. 2 (June 2009): 173–89. http://dx.doi.org/10.1179/102452909x417042.

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Guo, Jie (Michael), Yichen Li, Changyun Wang, and Xiaofei Xing. "The role of investment bankers in M&As: New evidence on Acquirers’ financial conditions." Journal of Banking & Finance 119 (October 2020): 105298. http://dx.doi.org/10.1016/j.jbankfin.2018.02.004.

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Asare, Stephen Kwaku, and Arnold M. Wright. "Investors', Auditors', and Lenders' Understanding of the Message Conveyed by the Standard Audit Report on the Financial Statements." Accounting Horizons 26, no. 2 (February 1, 2012): 193–217. http://dx.doi.org/10.2308/acch-50138.

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SYNOPSIS The purpose of this study is to evaluate the extent to which there are communication gaps among auditors and two user groups in their understanding of the messages conveyed by the standard audit report on the financial statements (SAR). Auditors, bankers, and nonprofessional investors reviewed background information on a hypothetical company that had received a SAR. Compared to auditors, users consider the SAR to be more important in assessing fraud risk even though they assess a lower likelihood that auditors have detected fraud. Further, the SAR gives users a significantly higher level of confidence in the company's management, investment soundness, and accomplishment of strategic goals than auditors. We also find several instances where the auditors and bankers differed from the nonprofessional investors in the interpretation of technical terms in the SAR, suggesting a between-user disagreement in interpreting the technical terms. Taken together, the results suggest that there are important differences between auditors and users in their understanding of the broad messages conveyed by the SAR (i.e., roles, responsibilities, and conclusions of an audit), and those differences are not driven by disagreements in interpreting the technical terms in the SAR.

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Journal articles on the topic 'Investment bankers'

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