Method of Banks Valuation

Article Sidebar

PDF
Published Sep 29, 2017

Main Article Content

Eva Horvátová
University of Economics in Bratislava, Faculty of National Economy, Department of Banking and International Finance, Bratislava, Slovakia

Abstract

Since there is not a special common framework for valuation banks and it gives possibilities to create establishment, improvement and adaptation of various approaches to measuring the value of banks and financial institutions.


Most approaches banks valuation note the strong dependence of financial institutions value from market interest rates (Mishkin, F., Miller, WD, Copeland, T., Koller, T., Damodaran, A., and others). Each approache reflects greater or lesser degree of accuracy depending on the method of determining resources for owners, the discount factor, approaches to defining the rate of growth and methods of measurement.

Article Details

Issue
Vol 43 No 1-2 (2010): Economic Analysis
Section
Articles
Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Once the manuscript is accepted for publication, authors shall transfer the copyright to the publisher. If the submitted manuscript is not accepted for printing by the journal, the authors shall retain all their rights. The following rights on the manuscript are transferred to the publisher, including any supplementary materials and any parts, extracts or elements of the manuscript:

  • the right to reproduce and distribute the manuscript in printed form, including print-on-demand;
  • the right to print prepublications, reprints and special editions of the manuscript;
  • the right to translate the manuscript into other languages;
  • the right to reproduce the manuscript using photomechanical or similar means including, but not limited to photocopy, and the right to distribute these copies;
  • the right to reproduce and distribute the manuscript electronically or optically using and all data carriers or storage media, and especially in machine readable/digitalized form on data carriers such as hard drive, CD-ROM, DVD, Blu-ray Disc (BD), Mini Disc, data tapes, and the right to reproduce and distribute the article via these data carriers;
  • the right to store the manuscript in databases, including online databases, as well as the right to transmit the manuscript in all technical systems and modes;
  • the right to make the manuscript available to the public or to closed user groups on individual demand, for use on monitors or other readers (including e-books), and in printable form for the user, either via the Internet, online service, or via internal or external networks.

References

Adams, M., Markus, R.: A new Approach to the Valuation of Banks. http://www.campus-forfinance.com/fileadmin/content/cffrc/documents/2007/Banking_I_Adams.pdf
Allen, F., Galle, D.: Comparing Financial Systems. Cambridge: MIT Press 2000. ISBN 0-262-01177-8.
Benninga, S.: Bank Valuation. New York Instirute of Finance Course in Singapore, www.wharton.upenn.edu, February 13, 2001.
Benninga, S. , Sarig, O.: Bank Valuation. February 13, 2001. http://senverb.boun.edu.tr/pdf/Bank%20Valuation.pdf
Brealey, R. A., Myers, S. C.: Teorie a praxe firemních financí. Praha: East Publishing 1992, ISBN 80-85605-24-4.
Calomiris, Ch. W., Doron Nissim: Activity Based Valuation of Bank Holding Companies. Working Paper 12918. http://www.nber.org/papers/w12918.
Davis, S. I.: Bank Mergers. Lessons for the Future. London: Macmillan 2000. ISBN 0-333-91260-8.
Damodaran, A.: Investment Valuation. 2-nd edition. John Wiley & Sons 2002. ISBN 978-0-471-75121-2.
www.damodaran.com (sekcia Updated Data).
http://pages.stern.nyu.edu./adamodar/
Freixas, X., Rochet, J. CH.: Microeconomics of Banking. Cambridge: MIT Press 1998. ISBN 0-262-06193-7.
Horvátová, E.: Bankovníctvo. Žilina: GEORG 2009. ISBN 978-80-89401-03-1.
Hrdý, M.: Oceňování finančních institucí. Praha: GRADA Publishing, 2005. ISBN 80-247-0938-4,
Kidwll, D. S., Peterson, R. P., Blacwell, D.W.: Financial Institutions, Markets and Money. Forth Worth: The Dryden Press 1993.
Koller, T., Goedhard, M., Wessels, D.: Valuation, Measuring and Managing the Value of Companies. Fourth edition. Mc Kinsey & Company John Willey & Sons, ISBN 0471702188, ISBN: 978-0-471-70218-4.
Levy, H., Sarnat, M.: Kapitálové investice a finanční rozhodování. Praha: Grada Publishing 1999. ISBN 80-7169-504-1.
Kislingerová, E.: Oceňování podniku. Praha: C. H. Beck, 2001. ISBN 80-7179-529-1.
Mařík, M.: Metody oceňování podniku. Druhé upravené a rozšířené vydání. Praha: Ecopress 2007, ISBN 978-80-86929-32-3.
Merton, R. C.: An intertemporal Capital Assets Pricing Model. Econometrica. Vol. 41, 1973. http://ideas.repec.org/a/ecm/emetrp/v41y1973i5p867-87.html
Merton, R. C.: Mark it to market. August, 19, 2009. http://www.swampreport.com/investments/scholes-and-merton-mark-it-to-market/
Miller, W.D.: Commercial Bank Valuation. John Wiley and Sons, Inc., USA 1995, ISBN13 9780471128205.
Mishkin, F.: Economics of Money, Banking and Financial Markets. Reading: Addison-Wesley 2003. ISBN 0-321-20049-7.
Rose, P. S., Hudgins, S. C.: Bank Management and Financial Services. Boston: McGraw Hill 2005. ISBN 0-07-286163-0.
Sharpe, W.F., Alexander, G.J.: Investice. Praha: Victoria Publishing 1993. ISBN 80-85605-47-3.
Sinkey, J. F.: Commercial Bank Financial Management. London: Prentice Hall 1998. ISBN 0-13-521048-8.