FIN 530 Investment Banking
Course Catalog Description
Introduction
This course focuses on the main activities of sell-side investment services such as: financial advisory, stocks and bonds structuring and underwriting, project finance and post-sale services such as equity and bond research. The course is aimed at students interested in acquiring skills and tools required for an investment banking career. The course does not cover the merger and acquisition topics (corporate, leveraged and early stage) for which the student should take the Venture Capital course.
| Campus | Fall | Spring | Summer |
|---|---|---|---|
| On Campus | X | ||
| Web Campus |
Instructors
| Professor | Office | |
|---|---|---|
|
Ye Wang
|
ywang15@stevens.edu |
More Information
Course Outcomes
Upon completing this course, students should develop a broad understanding of:
- Capital Markets, Market Structure, Participants
- The Legal Structure of a Firm: Capital Structure, Capital Markets vs Bank Financing, IPOs, SPACs, Secondary Offerings
- The Value of a Firm: Book Value, Market Value, Enterprise Value - Levered Equity, WACC, Discounted Cash Flows (DCF), Peer Valuation
- Debt Financing, LBOs, CLOs, Mortgage Financing, MBS, REITs
- M and A, Cross-Border Transactions, Taxes, CIFIUS transaction review and approvals
Course Resources
Textbook
- Investment Banking: Valuation, LBOs, M&A, and IPOs, 3rd Edition
-
Wall Street Journal (daily) and Financial Times (daily) - A free subscription for a defined period of time is available to students. Use it!
Grading
Grading Policies
| Individual Weighting | Total Weighting | ||
| 1 | Exam | 25% | 50% |
| 2 | Homework | 10% | 20% |
| 3 | Paper Presentation | 10% | 20% |
| 4 | Participation & Attendance | 10% | 10% |
Lecture Outline
| Week | Topic | |
|---|---|---|
| Week 1 | Part 1 (Ch.1-3) | First Day of Class Valuation |
| Week 2 | Part 1 (Ch.1-3) | Valuation |
| Week 3 | Part 1 (Ch.1-3) | Valuation |
| Week 4 | Part 2 (Ch. 4-5) | Leveraged Buyouts |
| Week 5 | Part 2 (Ch. 4-5) | Leveraged Buyouts |
| Week 6 | Part 2 (Ch. 4-5) | Leveraged Buyouts |
| Week 7 | No Class | Monday Schedule |
| Week 8 | Mid-term Exam | |
| Week 9 | Part 3 (Ch. 6-7) | Mergers and Acquisitions |
| Week 10 | Part 3 (Ch. 6-7) | Mergers and Acquisitions |
| Week 11 | Part 3 (Ch. 6-7) | Mergers and Acquisitions |
| Week 12 | Part 4 (Ch. 8-9) | Initial Public Offerings |
| Week 13 | Part 4 (Ch. 8-9) | Initial Public Offerings |
| Week 14 | Part 4 (Ch. 8-9) | Initial Public Offerings |