Corporate and Investment Banking

The details
Essex Business School
Colchester Campus
Postgraduate: Level 7
Thursday 03 October 2024
Friday 13 December 2024
01 March 2024


Requisites for this module



Key module for

MSC N31012 Banking and Finance,
MSC N31024 Banking and Finance

Module description

This module will describe the operations of primary global financial and advisory markets and the key players in investment and corporate banking fields of these global markets. The module will also provide an overview of the corporate and investment banking industry, with a focus on the main activities of full-service investment banks, including:

  1. Mergers & acquisitions valuations, advisories and raising and underwriting of financing deals.

  2. Capital markets intermediation and market-making activities associated with valuation, risk & trading.

  3. Money markets and risk management with derivatives.

Overall, the module provides a thorough view of the internal operations of corporate and investment banks, covering their administration, evolving boundaries and real-world impact.

Module aims

The aims of this module are:

  • To enable students to develop an adequate grasp of the theoretical and conceptual functions associated with financial intermediation, with a focus on the role of corporate and investment banking.

  • To provide an overview of the main activities associated with M&As, IPOs, SEOs, LBOs, MBOs.

  • To examine typical asset and securities valuation techniques employed in banking (corporate and investment).

  • To examine the main forces driving the strategic landscape of banking with a focus on design of risk management procedures such as due diligence and in estimating liquidity risks, and crash-risks of financial intermediation, especially managing interest rate and foreign exchange exposures.

Module learning outcomes

By the end of this module, students will be expected to be able to:

  1. Prepare valuation estimates of corporate deals, employing several approaches.

  2. Assess the completion-likelihood of various corporate events, especially investment banking deals.

  3. Evaluate the estimated impact on traded prices of major events often observed in financial markets.

  4. Create and evaluate risk management products and transactions associated with interest rate risk and foreign exchange risk.

  5. Write valuation reports for both buy-side and sell-side parties in transactions.

Module information

Prior knowledge

Students need to have either passed UG modules in either banking, portfolio analysis or corporate finance or have experience of working as financial analysts in financial markets.

Syllabus information (likely list)

  • Valuation Approaches and Frameworks: DCF, Univariate Multiples, Multivariate Multiples.

  • Earnings, Cashflows and Financial Statements.

  • Sell-side and Buy-side Strategy in M&As.

  • Sales & Marketing of Securities: Equity (IPOs & SEOs) and Debt (Maturity Structure & Refinancing).

  • Asset Restructuring (Selloffs, Spin-offs, Equity Carveouts, Liquidation).

  • Financial crashes and structure of financial intermediation.

  • Developing Risk Management Products: (Interest rates & FX: Managing and Settling Futures, Designing Swaps).

  • Investment Bank: Organisation Structure and Compensation.

Learning and teaching methods

This module will be delivered via:

  • One 2-hour lecture per week for ten weeks. (1 x 2 x 10)
  • One 1-hour computing lab per week for ten weeks. (1 x 1 x 10)
  • One 1-hour fortnightly seminar (1 x 1 x 5)

Students need to complete online preparatory work as formative assessment (via Moodle) before each session and should be ready to engage in discussion during each session. Formative assessments do not contribute to the mark for the module.



Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
100% 0%


Coursework Exam
100% 0%
Module supervisor and teaching staff



External examiner

No external examiner information available for this module.
Available via Moodle
No lecture recording information available for this module.


Further information
Essex Business School

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