課程名稱︰投資銀行管理
課程性質︰財金系選修
課程教師︰蘇永成
開課學院：管理學院
開課系所︰財金系
考試日期（年月日）︰2016/6/21
考試時限（分鐘）：180 min
試題 :
General instructions:
1.This is a close book exam. Try your best to answer the following three
questions.
2.Good luck!!!!
Question I
Show by graph and explain the possible LBO structures (20%). During LBO
process, junk bond and mezzanine issue are the most important financing
tools. Discuss the characteristics of junk bond and mezzanine issue (10%).
Question II
Show by graph and example on the participants, price settings and
equilibrium conditions in three basic types of market making. (30%)
Question III
How do market makers adjust inventory in return-order imbalance relation
(5%). Discuss in detail price-volume relation in hedging and speculative
trading strategies (10%). In financial literatures, how many state variables
are available in developing trading strategies to beat the market? Discuss
(25%).
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