FRANCO FIORDELISI (MA, PhD) is Lecturer in Banking and Finance at the Faculty of Economics 'Federico Caff?' of the University of Rome III, Italy. His main research interest relates to the economics of banking and other financial institutions focusing on efficiency, productivity and shareholder value creation. His research has been published by Applied Economics, ABI and leading Italian academic journals. He has acted as a consultant to many banks, leasing and factoring companies. PHILIP MOLYNEUX is currently Professor in Banking and Finance and Director of the Institute of European Fina

• List of Figures List of Tables About the Authors Preface Why Study Shareholder Value Creation in Banking? Economic Objectives of Banks Shareholder Value: A Literature Review How Banks Create Shareholder Value Bank Performance Measures and Shareholder Value Measuring Shareholder Value Drivers in Banking Determinants of Shareholder Value in European Banking and Shareholder Efficiency Conclusions Notes Index

FRANCO FIORDELISI (MA, PhD) is Lecturer in Banking and Finance at the Faculty of Economics 'Federico Caff?' of the University of Rome III, Italy. His main research interest relates to the economics of banking and other financial institutions focusing on efficiency, productivity and shareholder value creation. His research has been published by Applied Economics, ABI and leading Italian academic journals. He has acted as a consultant to many banks, leasing and factoring companies. PHILIP MOLYNEUX is currently Professor in Banking and Finance and Director of the Institute of European Fina

• List of Figures List of Tables About the Authors Preface Why Study Shareholder Value Creation in Banking? Economic Objectives of Banks Shareholder Value: A Literature Review How Banks Create Shareholder Value Bank Performance Measures and Shareholder Value Measuring Shareholder Value Drivers in Banking Determinants of Shareholder Value in European Banking and Shareholder Efficiency Conclusions Notes Index