Investment Banking Institutions, Politics, and Law
Investment Banking: Institutions, Politics, and Law provides an economic rationale for the dominant role of investment banks in the capital markets, and uses it to explain both the historical evolution of the investment banking industry and also recent changes to its organization. Although investmen...
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| Main Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
Oxford
Oxford University Press
2007
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| Subjects: | |
| Online Access: | Click Here to View Status and Holdings. |
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Add Tag | Summary: | Investment Banking: Institutions, Politics, and Law provides an economic rationale for the dominant role of investment banks in the capital markets, and uses it to explain both the historical evolution of the investment banking industry and also recent changes to its organization. Although investment decisions rely upon price-relevant information, it is impossible to establish property rights over it and hence it is very hard to coordinate its exchange. The authors argue that investment banks help to resolve this problem by managing "information marketplaces," within which extra-legal institutions support the production and dissemination of information that is important to investors. Reputations and relationships are more important in fulfilling this role than financial capital. |
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| Physical Description: | ix, 341 pages illustrations 24 cm |
| Bibliography: | Includes bibliographical references (pages [311]-331) and index |
| ISBN: | 019929657X |
Investment banking institutions, politics, and law