In Investment Banking : Implications And Significance

In this paper I discuss how investment banks utilize the internet as well as the motivation and implications of these early interne t applications for the co nduct of inv estment bank ing activities. I focus, in particular, on the significance of e-commerce applications for the management of relationships with clients, the expansion into the retail investor market, and the re-engineering of the underwriting process. The paper offers some critical perspectives as to whether internet-based operations are likely to transform the intermed iary servic es of und erwriting firms in the securities issu ance pro cess.