FIN 419 Week 4 Summary

Apr 24th, 2015
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FIN 419 Week 4 Summary

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Investment banking is, "Financial intermediary that specializes in selling new security issues and advising firms with regard to major financial transactions" (Gitman, 2006, p. 336).Underwriting is the main activity of the investment banker. Underwriting involves purchasing at an agreed price and bearing the risk of reselling it for a profit. "Leverage results from the use of fixed-cost assets or funds to magnify returns to the firm's owners" (Gitman, 2006, p. 553). A decrease in leverage results in a decrease in return and risk, whereas an increase in leverage will result in an increase

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