FIN 530 Investment Banking
Course Catalog Description
Introduction
The course provides an overview of Investment Banking from a transactional, regulatory and legal perspective. Students will explore the dynamic relationship between corporate structures / corporate balance sheets and capital markets to fund and optimize transactions.
Students will delve into the structure of capital markets and develop deep insights in the role of financial intermediaries, i.e. banks, financial sponsors, regulators and how these players affect transactions and facilitate the flow of capital between capital seekers and capital providers.
The instructor will discuss several case studies to help students understand deal sourcing - origination, transaction complexities, funding and leverage, regulatory approvals, pricing, integration as well as regulatory compliance and supervision.
| 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 |