How Often Do 'Conflicts of Interests' in the Investment Banking Industry Arise During Hostile Takeovers?

Author(s):  
Charles W. Calomiris ◽  
Hal J. Singer
Author(s):  
Tracey Rowe ◽  
Anne Crafford

A qualitative study was conducted to explore the barriers to career advancement for professional women in the investment banking industry. Semi-structured interviews were conducted with male and female participants to explore their beliefs and perceptions of these barriers. The story of Cinderella is used as an interpretative framework in which the findings are discussed. The key themes that emerged were structure of society, embodiment, male domination, support structures and networking. An additional theme, entitled ‘If the shoe fits’ is the underlying thread that links the other key themes together and forms the conclusion of the study. Opsomming’n Kwalitatiewe studie was onlangs uitgevoer met die oog op hindernisse vir professionele vroue in die beleggings bank-sektor. Semi-gestruktueerde onderhoude was uitgevoer met beide manlike en vroulike deelnemers ten einde die persepsies en oortuigings van hierdie hindernisse te ondersoek. Die verhaal van Aspoestertjie was gebruik as ’n raamwerk waarin die bevindings bespreek is. Die sleutel temas wat geidentifiseer was sluit in gemeenskapstruktuur, beliggaming, manlike-dominasie, ondersteuningsraamwerk en die bou van netwerke. ’n Addisionele tema, getitel ‘As die skoen pas’ is die onderliggende draad wat die ander temas saambind en die samevatting van die studie vorm.


2008 ◽  
Vol 23 (1) ◽  
pp. 119-128
Author(s):  
Paul D. Kimmel ◽  
Terry D. Warfield

Like many companies, Caravan International occasionally repurchases its shares in the open market. With a traditional stock repurchase program, Caravan and other companies sometimes are unable to maximize the financial reporting benefits of stock buybacks. However, the “Accelerated Share Repurchase” (ASR) agreement, recently introduced by the investment banking industry, allows companies to execute their treasury stock programs and take some of the uncertainty out of share repurchase transactions. This case provides a context for examining the specific benefits of these plans as well as the potential risks. It will help you understand earnings per share (EPS) calculations and the accounting for financial instruments used in ASRs. The case illustrates how managers sometimes structure transactions to take advantage of favorable accounting treatment, and thus achieve EPS targets.


2021 ◽  
Author(s):  
Karen Pluess ◽  
Katy Sutcliffe

There are increasing calls to re-establish the role and responsibility of banks towards society to repair trust and enhance financial stability. Through in-depth interviews with senior investment bankers, this study asks what bankers themselves think about the corporate (i.e. the industry’s core business), social (i.e. its moral responsibilities to wider society), and employee (i.e. bankers’ own feelings of purposefulness) purposes of the investment banking industry. Existing research tells us that there are significant reciprocal benefits to organisations, employees, and society at large when the three are aligned. The study’s findings suggest that while there have been important shifts in corporate and social purposes over time, bankers remain sceptical about their banks’ underlying motives and this has resulted in multiple disconnects. Perhaps surprising, the study finds that meaningful work that is also socially focused is something that investment bankers are seeking in some way. These insights should prompt banks to ensure that social purposes reflect and align with their corporate purposes; to move beyond rhetoric and virtue-signalling to action; and to help employees identify their contribution to it all.


2010 ◽  
Vol 6 (6) ◽  
Author(s):  
Elizabeth Holowecky ◽  
Ashley Murry ◽  
Violeta Staneva ◽  
Jayne Fuglister

This case is an ethics case.  The focus is on corporate governance in a major Wall Street bank, Goldman Sachs.  The case discusses what Congress has done in the past and what it may do in the future to prevent breaches in ethics relating to proprietary trading.  In response to the current financial crisis, Congress has proposed many changes for the banking industry and the proposals have gained momentum because of the SEC’s accusation of fraud at Goldman Sachs.  One piece of proposed legislation, endorsed by President Barack Obama and former chairman of the Federal Reserve, Paul Volcker, is based on the Volcker Rule.  This rule would return the banking industry to the decades of the Glass-Steagall provisions of the Banking Act of 1933.  The Volcker Rule would reinstitute the separation of commercial and investment banking. 


Significance This, with his recently acquired Beltone Financial Holding SAE, will create Egypt's second largest investment bank. Yet the profitability of the Middle East and North Africa (MENA) for the investment banking industry is unlikely to rise in the short term. Impacts Demand for Middle East bonds in 2016 will decline compared to 2014 and the first half of 2015. Yields will increase and issue size will decline, particularly for the weaker Gulf economies, Bahrain and Oman. This will reduce investors' interest in corporate bonds, which will mean more companies may cancel issues. In North Africa, lacklustre capital markets will not see enough reform to generate a recovery there.


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