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How 'global' are investment banks? An analysis of investment banking networks in Asian equity capital markets

Gemici, Kurtulus; Lai, Karen P.Y.

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Authors

Kurtulus Gemici



Abstract

This paper examines the distribution of power within financial networks of investment banks in equity capital markets of three key economies in Asia: Hong Kong, Japan and Singapore. Using social network analysis, it shows that while bulge-bracket banks occupy core positions in all three locations, their dominance is challenged by emerging Asian investment banks. The equity capital market networks of investment banks are strongly shaped by development trajectory and regional contexts of specific international financial centres, which reveals the differentiated nature of finance across Asia. Results also highlight the need for further research on networks within financial centres in addition to inter-city networks in order to understand the roles and development of international financial centres.

Citation

Gemici, K., & Lai, K. P. (2019). How 'global' are investment banks? An analysis of investment banking networks in Asian equity capital markets. Regional Studies, 149-161. https://doi.org/10.1080/00343404.2019.1584393

Journal Article Type Article
Acceptance Date Feb 5, 2019
Online Publication Date Mar 29, 2019
Publication Date 2019
Deposit Date Aug 31, 2019
Publicly Available Date Sep 29, 2020
Journal Regional Studies
Print ISSN 0034-3404
Electronic ISSN 1360-0591
Publisher Taylor and Francis Group
Peer Reviewed Peer Reviewed
Pages 149-161
DOI https://doi.org/10.1080/00343404.2019.1584393

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