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Investment Banking – Institutions, Politics, and Law - Oxford Scholarship Online
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Investment Banking: Institutions, Politics, and Law

Alan D. Morrison and William J. Wilhelm, Jr.


This book provides an economic rationale for the dominant role of investment banks in the capital markets, and uses it to explain both the historical evolution of and recent changes to the investment banking industry. The book points to the importance of well-defined property rights and properly-functioning property rights institutions in supporting the devolved decision making that drives capitalist economies. A critical decision in capitalist economies is the investment decision that allocates resources to new ventures. But this decision relies upon price-relevant information over which it i ... More

Keywords: investment bank, capital markets, property rights, information marketplace, IPO, institutional economics, social choice, investors

Bibliographic Information

Print publication date: 2007 Print ISBN-13: 9780199296576
Published to Oxford Scholarship Online: May 2007 DOI:10.1093/acprof:oso/9780199296576.001.0001


Affiliations are at time of print publication.

Alan D. Morrison, author
University Reader in Finance, Saïd Business School and Fellow of Merton College, University of Oxford
Author Webpage

William J. Wilhelm, Jr., author
Murray Research Professor, McIntire School of Commerce, University of Virginia