Efficiency and competition in the investment banking industry
Creators: name: RADIC, NEMANJA
Publisher: name: Università degli Studi di Roma "Tor Vergata"
Year: 2010
Subjects: subject: asset diversification; bank asset size (BAS); boutique investment banks (BIB); capital risk exposure (CAR); chief executive officer (CEO); corporate and investment banks (CIB); CONC; Herfindhal index of concentration; distribution free approach - parametric approach (DFA); European Union; foreign direct investment (FDI); net inflows
subject: asset diversification
subject: bank asset size (BAS)
subject: boutique investment banks (BIB)
subject: capital risk exposure (CAR)
subject: chief executive officer (CEO)
subject: corporate and investment banks (CIB)
subject: CONC
subject: Herfindhal index of concentration
subject: distribution free approach - parametric approach (DFA)
subject: European Union
subject: foreign direct investment (FDI)
subject: net inflows

description: I would like to thank The University of Rome ’’Tor Vergata’’ for giving me the possibility to study, live and develop in a beautiful and inspiring city of Rome. It was a once of a life time experience and for that I’m truly grateful. In addition, I express gratitude toward all administrative team and all of my fellow colleagues.
description: 22. ciclo
description: Chapter 1: Introduction and motivations 1.1 background 1.2 aims of study 1.3 methodology 1.4 structure of the study. - Chapter 2: investment banking overview 2.1 introduction 2.2 factors behind the development of the investment banking industry 2.3 investment banking industry 2.3.1 types of investment banks 2.3.2 investment bank operational areas 2.4 addressing the management issue in the investment banking business 2.4.1 human resource management 2.4.2 structure and processes in the investment banking 2.4.3 compensation 2.5 business strategies 2.5.1 risk management 2.5.2 cost management 2.5.3 financial performance 2.6 conclusions. - Chapter 3: efficiency and risk-taking in pre-crisis investment banks 3.1. introduction 3.2. literature review 3.2.1 the efficiency of the invest`ment banks 3.2.2 the importance of the environmental variables in the studies on banking efficiency and performance 3.3. methodology 3.3.1 measuring efficiency with the stochastic frontier analysis 3.3.2 accounting for heterogeneity 3.4. data and variables 3.4.1 sample description 3.4.2 input and output definition 3.4.3 firm specific and environmental conditions included to account for heterogeneity 3.5. empirical results 3.5.1 case i model 3.5.2 case ii model 3.5.3 robustness checks 3.6. conclusions. - Chapter 4: competition and efficiency in worldwide investment banking 4.1. introduction 4.2. literature review 4.3. methodology 4.3.1 stochastic frontier approach 4.3.2 the lerner index of monopoly power 4.3.3 The Panzar and Rose h: statistics 4.3.4 generalised method of moments (gmm) 4.4. data and variables 4.4.1 sample description 4.4.2 input and output definition 4.5. empirical results 4.5.1 the evolution of investment banks’ efficiency 4.5.2 competition patterns in worldwide investment banking 4.5.3 the relationship and causality between market power and efficiency 4.6. conclusions. - Chapter 5: summary and concluding remarks 5.1 summary 5.2 concluding remarks 5.3 future research