Banks And Shareholder Value
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Banks And Shareholder Value
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Author : Stephanie Gross
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-11-06
Banks And Shareholder Value written by Stephanie Gross and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-06 with Business & Economics categories.
Stephanie Gross focuses on three sets of questions on shareholder value of banks and analyses its measurement, empirical relevance and value drivers.
Shareholder Value Management In Banks
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Author : Leo Schuster
language : en
Publisher: Springer
Release Date : 2000-01-04
Shareholder Value Management In Banks written by Leo Schuster and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-04 with Business & Economics categories.
This book demonstrates how shareholder value analysis has become a valuable instrument of strategy assessment. It illustrates the ways in which management is able to align company policy with the financial goals of its shareholders and describes various methods of value-orientated company planning. Including up-to-date examples and case studies Shareholder Value Management in Banks represents the application of an important conceptual area to an international industry.
Shareholder Value In Banking
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Author : F. Fiordelisi
language : en
Publisher: Springer
Release Date : 2006-04-19
Shareholder Value In Banking written by F. Fiordelisi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04-19 with Business & Economics categories.
Sustainable shareholder value is a main strategic objective for financial institutions. This text provides an analytical assessment of shareholder value creation, providing a framework for analyzing theory, and presenting empirical investigations. It analyzes the importance of drivers in creating value and develops a new measure of bank efficiency.
Strategic Repositioning For Shareholder Value
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Author :
language : en
Publisher:
Release Date : 1989
Strategic Repositioning For Shareholder Value written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Bank management categories.
Risk Management And Shareholders Value In Banking
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Author : Andrea Sironi
language : en
Publisher: John Wiley & Sons
Release Date : 2007-05-21
Risk Management And Shareholders Value In Banking written by Andrea Sironi and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-05-21 with Business & Economics categories.
This book presents an integrated framework for risk measurement, capital management and value creation in banks. Moving from the measurement of the risks facing a bank, it defines criteria and rules to support a corporate policy aimed at maximizing shareholders' value. Parts I - IV discuss different risk types (including interest rate, market, credit and operational risk) and how to assess the amount of capital they absorb by means of up-to-date, robust risk-measurement models. Part V surveys regulatory capital requirements: a special emphasis is given to the Basel II accord, discussing its economic foundations and managerial implications. Part VI presents models and techniques to calibrate the amount of economic capital at risk needed by the bank, to fine-tune its composition, to allocate it to risk-taking units, to estimate the "fair" return expected by shareholders, to monitor the value creation process. Risk Management and Shareholders' Value in Banking includes: * Value at Risk, Monte Carlo models, Creditrisk+, Creditmetrics and much more * formulae for risk-adjusted loan pricing and risk-adjusted performance measurement * extensive, hands-on Excel examples are provided on the companion website www.wiley.com/go/rmsv * a complete, up-to-date introduction to Basel II * focus on capital allocation, Raroc, EVA, cost of capital and other value-creation metrics
Shareholder Value Management In Banks
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Author : Leo Schuster
language : en
Publisher: Palgrave Macmillan
Release Date : 2000-04-12
Shareholder Value Management In Banks written by Leo Schuster and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-12 with Business & Economics categories.
This book demonstrates how shareholder value analysis has become a valuable instrument of strategy assessment. It illustrates the ways in which management is able to align company policy with the financial goals of its shareholders and describes various methods of value-orientated company planning. Including up-to-date examples and case studies Shareholder Value Management in Banks represents the application of an important conceptual area to an international industry.
The Relevance Of Discounted Cash Flow Dcf And Economic Value Added Eva For The Valuation Of Banks
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Author : Dennis Schön
language : en
Publisher: GRIN Verlag
Release Date : 2007-08
The Relevance Of Discounted Cash Flow Dcf And Economic Value Added Eva For The Valuation Of Banks written by Dennis Schön and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08 with categories.
Bachelor Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,3 (A), Northumbria University (Newcastle Business School), language: English, abstract: This study investigates the underlying theories and assumptions of two modern capital market-based valuation approaches, the Discounted-Cash-Flow (DCF) and the Economic-Value-Added (EVA) approach, which are nowadays applied principally for industrial and manufacturing firms. This general examination is then transferred into a more specific investigation exploring whether these valuation concepts can be applied to the strongly regulated and more specific field of bank valuation. A questionnaire addressing bank analysts was created to analyse this question. The project indicates that the ideas of shareholder value which have been enforced over the last decade have implemented the need for a more shareholder-focused valuation. The application of DCF is basically attributed to this movement. It is revealed that this concept uses cash flow streams which depict a more realistic picture of an organization's true earning power. Moreover, it employs a discount rate based on the capital market and thus reflecting the yield expectations of the investors. EVA, on the other hand is a relatively new concept, copyrighted in 1994 by Stern Stewart. It highlights an organization's true economic profits. The study examines its components NOPAT, Capital and Cost of Capital, establishes a relation to DCF, points out some general limitations due to the fact that it falls back on accounting figures and critically assesses its dependence on the CAPM whose inherent assumptions of efficient markets that are not transferable into reality, might affect the valuation. The primary research undertaken finally reveals that the concepts of DCF and EVA are basically suitable to be applied to the valuation of banks. However, there are some peculiarities, primarily due to difficulties associated with the defin
Too Big To Fail In Banking
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Author : Tom Filip Lesche
language : en
Publisher: Springer Nature
Release Date : 2021-06-28
Too Big To Fail In Banking written by Tom Filip Lesche and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-28 with Business & Economics categories.
This book provides a comprehensive summary of the latest academic research on the important topic of too-big-to-fail (TBTF) in banking. It explains TBTF from various perspectives including the range of regulatory measures proposed to counter TBTF, most notably the globally accepted regulation of global-systemically important banks (G-SIBs) and its main tool of capital surcharges. The empirical analysis quantifies the shareholder value of the G-SIB attribution by using quarterly observations from more than 750 global banks between Q2 2008 and Q3 2015. The main finding is that G-SIBs are confronted with a substantial relative valuation discount compared to non-G-SIBs. From the end of 2011 until the end of 2015, a stable discount of 0.6x–0.8x price-to-tangible common equity (P/TCE) is statistically highly significant. The results suggest that the G-SIB designation effect, which positively impacts G-SIBs’ share prices because of funding benefits from IGGs, is dominated by the regulatory G-SIB burden effect, which negatively impacts G-SIBs’ share prices because of lower profitability due to capital surcharges and other regulatory requirements placed on G-SIBs. The findings re-open the debate about whether breaking up G-SIBs would unlock shareholder value and whether G-SIBs are regulated efficiently.
The Everyday Practice Of Valuation And Investment
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Author : Horacio Ortiz
language : en
Publisher: Columbia University Press
Release Date : 2021-11-23
The Everyday Practice Of Valuation And Investment written by Horacio Ortiz and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-23 with Social Science categories.
The financial industry derives its legitimacy through the claim that it acts in the interest of shareholders. A vast international network of funds, banks, insurance companies, brokerages, rating agencies, and regulatory agencies defends its status by asserting that market mechanisms determine a company’s true value and therefore enriching shareholders contributes to the socially optimal allocation of capital. Is this how stock prices are determined in practice? What does stock valuation reveal about the supposed efficiency of markets and what it means to act on behalf of shareholders? Horacio Ortiz provides a critical analysis of the social institutions and practices that produce and regulate stock pricing and valuation. He examines how financial professionals evaluate and invest in listed companies, unraveling the contradictory definitions of financial value that shape their behavior. Ortiz demonstrates how ideologically laden notions of investing skill and efficient markets are central to the everyday practices of financial valuation, as well as how they function to justify the broader system. He scrutinizes the technical aspects of valuation and investment, their place in social relations within and among companies, and their relation to state regulation in order to demystify how the financial industry presents prices as truths that the rest of society must accept. Drawing on ethnographic fieldwork conducted among stock brokers and investment management companies in New York and Paris, this book shows how the political imaginaries that underpin financial markets are central to producing, sustaining, and legitimizing global inequalities.
Risk Management And Shareholders Value In Banking
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Author : Andrea Resti
language : en
Publisher: Wiley
Release Date : 2016-06-27
Risk Management And Shareholders Value In Banking written by Andrea Resti and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-27 with Business & Economics categories.
Risk Management and Shareholders' Value in Banking provides an integrated framework for risk measurement, capital management and value creation in banks covering interest rate risk; market risk; credit risk; operational risk; capital regulation; capital management; and value creation. Updated to include coverage of the most recent developments in banking regulation, including comprehensive coverage of the new Basel III regulatory framework the book is structured in six parts. Part I covers the measurement and management of the interest rate risk and liquidity risk on all assets and liabilities of a banking institution. This includes a discussion of gapping models, presented critically through numerical examples and solutions, internal transfer rates, gapping techniques, liquidity risk management. Part II presents portfolio models for market risks, including the “variance/covariance” approach, Monte Carlo / historical simulations, backtesting, alternative risk measures (e.g. expected shortfall) and volatility estimation techniques. Part III addresses credit risk measurement, first on a stand-alone basis, then at a portfolio level; it also includes chapters on scoring models, rating systems, recovery risk, counterparty risk for OTC derivatives, and practical applications of credit risk models. Part IV deals with operational risk before part V goes on to illustrate the main pieces of regulation on bank capital issued by the Basel Committee, the main focus being on Basel 2 (insofar it has not been changed by the latest regulatory wave) and Basel 3. Part VI presents the link between risk and capital in all its implications, and provides the reader with the technical models needed to allocate capital to risk-taking units, set risk-adjusted profitability targets, and optimize the amount and composition of bank capital. By bringing together the core aspects of risk management in banking - models and algorithms, regulation, process engineering and management, and strategic planning – the book provides a unique and consistent framework showing how financial risks can be understood, measured, managed and covered with capital. The book is accompanied by a website which includes a series of excel files with detailed explanations of all the numerical examples shown in the book, as well as solutions to the end of chapter exercises.