Valuing Banks

A New Corporate Finance Approach

AvFederico Beltrame,Daniele Previtali

Inbunden, Engelska, 2016

Del i serien Palgrave Macmillan Studies in Banking and Financial Institutions

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Beskrivning

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.

Produktinformation

Utgivningsdatum:2016-07-08
Mått:148 x 210 x 21 mm
Vikt:454 g
Format:Inbunden
Språk:Engelska
Serie:Palgrave Macmillan Studies in Banking and Financial Institutions
Antal sidor:242
Upplaga:16001
Förlag:Palgrave Macmillan
ISBN:9781137561411

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Mer om författaren

Federico Beltrame is Lecturer in Banking and Financein the Department of Economics and Statistics, University of Udine, Italy. Heholds a PhD in Business Science from the same University. His main researchinterests are related to SMEs’ cost of capital, banks’ capital structure andMutual Guarantee Credit Institutions. Daniele Previtali is post-doc fellow and lecturer atLuiss Guido Carli University, Rome, Italy. He holds a Ph.D. in Banking and Financefrom University of Rome, Tor Vergata, Italy. In 2012, he was a visiting PhDcandidate at Stern School of Business, New York, USA. His main researchinterests concern banks valuation, banks’ capital structure and innovation.

Innehållsförteckning

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.