课程名称︰投资银行管理 课程性质︰ 课程教师︰苏永成 开课学院：管理学院 开课系所︰财金系 考试日期（年月日）︰100/06/21 考试时限（分钟）：3hr 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : General instructions: 1. This is a close book exam. Try your best to answer the following four questions. 2. Good luck!!! Question I. Explain in detail primary market making on (i) underwriting syndicate position, (ii) underwriting syndicate profit and loss function, and (iii) risk and return of under-pricing in underwriting syndicate, under the framework of Black-Scholes option pricing model.(30%) How do investment bankers support primary market makings by secondary market makings?(5%) Question II Briefly describe the process and structures of LBO in which investment bankers are engaged.(15%) Explain the possible motives of LBO.(5%) Question III Why do IPO firms purchase underwriting services from investment banks?(5%) Discuss risk transfer abilities associated with investment banks in underwriting process.(15%) Question IV Explain dealer functions in secondary market making.(5%) How do market makers adjust inventory in return-order imbalance relation.(20%) -- --

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