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 Email Office
Ye Wang
ywang15@stevens.edu

More Information

Course Outcomes

Upon completing this course, students should develop a broad understanding of:

  1. Capital Markets, Market Structure, Participants
  2. The Legal Structure of a Firm: Capital Structure, Capital Markets vs Bank Financing, IPOs, SPACs, Secondary Offerings
  3. The Value of a Firm: Book Value, Market Value, Enterprise Value - Levered Equity, WACC, Discounted Cash Flows (DCF), Peer Valuation
  4. Debt Financing, LBOs, CLOs, Mortgage Financing, MBS, REITs
  5. M and A, Cross-Border Transactions, Taxes, CIFIUS transaction review and approvals

Course Resources

Textbook


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