Valuing Banks

A New Corporate Finance Approach
1. Auflage 2016
ISBN: 978-1-137-56141-1
Verlag: Palgrave Macmillan UK

Buch, Englisch, 242 Seiten, Format (B × H): 153 mm x 216 mm, Gewicht: 4501 g

Reihe: Palgrave Macmillan Studies in Banking and Financial Institutions

This book aims to overcome the limitations the variations in bank-specifics impose by providing a bank-specific valuation theoretical framework and a new asset-side model. The book includes also a constructive comparison of equity and asset side methods. The authors present a novel framework entitled, the “Asset Mark-down Model”. This method incorporates an Adjusted Present Value model, which allows practitioners to identify the main value creation sources of a particular bank: from asset-based cash flow and the mark-down on deposits, to tax benefits on bearing liabilities. Through the implementation of this framework, the authors offer a more accurate and more specific approach to valuing banks.

Zielgruppe

Research

Autoren/Hrsg.

Previtali, Daniele

Beltrame, Federico

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Rating, Due Diligence, Unternehmensbewertung
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft

Inhaltsverzeichnis

1) Valuation in Banking: Issues and Models.- 2) Value, Capital Structure and Cost of Capital: A Theoretical Framework.- 3) Measuring the Cash Flows of Banks: the FCFA Asset Side Approach.- 4) The Cost of Capital of Banks: Theories and Empirical Evidences.- 5) Banks’ Asset-Side Multiples: Profitability, Growth, Leverage and Deposits Effect.- 6) A Comparison Among Valuation Metrics on a Real Case.

Über Autor(innen)

Federico Beltrame is Lecturer in Banking and Finance in the Department of Economics and Statistics, University of Udine, Italy. He holds a PhD in Business Science from the same University. His main research interests are related to SMEs’ cost of capital, banks’ capital structure and Mutual Guarantee Credit Institutions. 

Daniele Previtali is post-doc fellow and lecturer at Luiss Guido Carli University, Rome, Italy. He holds a Ph.D. in Banking and Finance from University of Rome, Tor Vergata, Italy. In 2012, he was a visiting PhD candidate at Stern School of Business, New York, USA. His main research interests concern banks valuation, banks’ capital structure and innovation.