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

Gemici, Kurtulus and Lai, Karen P. Y. (2019) 'How 'global' are investment banks? An analysis of investment banking networks in Asian equity capital markets.', Regional studies. .

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.

Item Type:Article
Full text:(AM) Accepted Manuscript
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Status:Peer-reviewed
Publisher Web site:https://doi.org/10.1080/00343404.2019.1584393
Publisher statement:This is an Accepted Manuscript of an article published by Taylor & Francis in Regional Studies on 29th March 2019, available online: http://www.tandfonline.com/10.1080/00343404.2019.1584393
Date accepted:05 February 2019
Date deposited:08 October 2019
Date of first online publication:29 March 2019
Date first made open access:29 September 2020

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