Vault-Guide-to-Investment-Banking

GettheinsidescooponinvestmentbankingcareersintheAsiaPacificregion!Readthisextendedexcerptoftheall-newVaultCareerGuidetoInvestmentBanking,AsiaPacificEditionandgettheinsidestoryoninvestmentbankingcareers,including:•Aninsidelookatcorporatefinance,sales&trading,researchandothermajorfunctionsatinvestmentbanks.•Anoveviewofequityanddebtmarketsintheregion•AdiscussionofindustrytrendsandcorporatecultureinAsiaPacific•DaysinthelifeofinvestmentbankersinAsiaPacificABOUTVAULTFoundedin1996,Vaultistheleadingglobalmediacompanyfocusedoncareers.WithofficesinNorthAmerica,Europe,IndiaandAsia,Vaultprovidesgraduatesandyoungprofessionalsworldwidewithinsiderinformationoncareersandeducationthroughitsaward-winningwebsitesandcareerguides.ThisPDFisanexcerptedversionofthefull198-pageguideTogetthecompleteguide:•Purchaseyourownprintore-Bookversionoftheguide.Goto•Morethan900universitiesandMBAprogramsworldwidesubscribetotheVaultOnlineLibrary,providingmorethan4.5millionstudentsworldwidewithaccesstoVault'sguidesandcareerinformation.ContactyourcareercentertodaytoaskaboutaccesstotheVaultOnlineCareerLibrary.CAREERSINVESTMENTBANKINGINVESTMENTBANKING©2008Vault.comInc.VAULTCAREERGUIDETOASIAPACIFICEDITIONJUNGB.LEE,TOMLOTTandthestaffofvaultVisitVaultAsiaat–toreadinsiderfirmprofiles,careeradvicearticles,employeesurveysandotherinformationontopcareersintheAsiaPacificregion.ixCAREERLIBRARYTHEINDUSTRYChapter1:WhatisInvestmentBanking?3TheGame...................................................7Chapter2:CommercialBankingandInvestmentBanking13CommercialBankingvs.InvestmentBanking......................13TheBuy-Sidevs.theSell-Side..................................19Chapter3:EquityMarkets23BasicEquityMarketConcepts..................................23StockValuationMeasuresandRatios.............................29ValueStocks,GrowthStocksandMomentumStocks................32Chapter4:DebtMarkets35AnIntroductiontoDebt.......................................35BondMarketConcepts........................................37FixedIncomeDefinitions......................................44WhatistheLoanMarket?......................................46Chapter5:IndustryTrends49FocusonAsia...............................................49TrendsbyCountry............................................51TableofContentsChapter6:EquityandDebtOfferings61InitialPublicOfferings........................................61Follow-OnOfferingsofStock...................................65BondOfferings..............................................67LoanOfferings...............................................68Chapter7:Mergers&Aquisitions,PrivatePlacements,andReorganizations69Mergers&Acquisistions.......................................69PrivatePlacements............................................73FinancialRestructurings.......................................75ONTHEJOBChapter8:CorporateFinance81ThePlayers.................................................82TheRolesofthePlayers.......................................86TheTypicalWeekinCorporateFinance...........................98FormulasforSuccess.........................................107CapitalMarkets.............................................109DoingBusinessinAsia.......................................110Chapter9:InstitutionalSalesandTrading113Trading–TheBasics.........................................116Floorbrokersvs.Traders......................................117ExecutingaTrade...........................................122Trading–ThePlayers........................................131Trading–TheRoutine........................................136InstitutionalSales–TheBasics.................................140InstitutionalSales–ThePlayers................................141VaultCareerGuidetoInvestmentBanking•AsiaPacificEditionTableofContents©2008Vault.comInc.xCAREERLIBRARYChapter10:Research153ThePlayers................................................153TheProduct................................................157ThreeMonthsinResearch.....................................160CommonlyUsedRatios.......................................164FixedIncomeResearch.......................................165FormulasforSuccess.........................................166Chapter11:Syndicate:TheGo-Betweens169Managersvs.Underwriters....................................169TheBook..................................................173OntheJobinSyndicate.......................................174APPENDIXGlossary...................................................181RecommendedReading.......................................193VaultCareerGuidetoInvestmentBanking•AsiaPacificEditionTableofContentsVisitVaultAsiaat–toreadinsiderfirmprofiles,careeradvicearticles,employeesurveysandotherinformationontopcareersintheAsiaPacificregion.xiCAREERLIBRARY