Skip to main content

Introduction

  • Chapter
  • First Online:
  • 1027 Accesses

Abstract

Bank valuation is one of the most difficult topics to address in corporate finance. This is because banks are characterized by business peculiarities that make them a special case for valuation compared with other industrial firms. Although they represent only a small part of the full range of industries, they constitute the cornerstone of economic and financial systems, and a considerable proportion of the index market capitalization of the major developed countries.

This is a preview of subscription content, log in via an institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD   169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

References

  • Baker, M., & Wurgler, J. (2013). Do strict capital requirements raise the cost of capital? Banking regulation and the low risk anomaly (no. w19018). National Bureau of Economic Research.

    Google Scholar 

  • Beltrame, F., Cappelletto, R., & Toniolo, G. (2014). Estimating SMEs cost of equity using a value at risk approach: The capital at risk model. London: Palgrave Macmillan.

    Google Scholar 

  • Calomiris, C. W., & Nissim, D. (2007). Activity-based valuation of bank holding companies. NBER working paper no. 12918.

    Google Scholar 

  • Cosimano T. F., & Hakura D. S. (2011). Bank behavior in response to Basel III: A cross-country analysis. IMF working paper 11/119.

    Google Scholar 

  • Damodaran, A. (2009). Valuing financial service firms/A. Stern Business.

    Google Scholar 

  • Damodaran, A. (2013). Valuing financial service firms. Journal of Financial Perspectives, 1, 1–16.

    Google Scholar 

  • Dermine, J. (2010). Bank valuation with an application to the implicit duration of non-maturing deposits. International Journal of Banking, Accounting and Finance, 2, 1–30.

    Article  Google Scholar 

  • Hamada, R. S. (1972). The effect of the firm’s capital structure on the systematic risk of common stocks. The Journal of Finance, 3(2), 435–452.

    Article  Google Scholar 

  • Kashyap, A. K., Stein, J. C., & Hanson, S. (2010). An analysis of the impact of ‘substantially heightened’ capital requirements on large financial institutions. Mimeo: Booth School of Business, University of Chicago.

    Google Scholar 

  • Koller, T. M., Goedhart, M., & Wessels, D. (2010). Valuation: Measuring and managing the value of companies (5th ed.). New York, NY: Wiley & Sons.

    Google Scholar 

  • Massari, M., Gianfrate, G., & Zanetti, L. (2014). The valuation of financial companies. Chichester: Wiley & Sons.

    Google Scholar 

  • Miles, D., Yang, J., & Marcheggiano, G. (2013). Optimal bank capital. The Economic Journal, 123(567), 1–37.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Copyright information

© 2016 The Editor(s) (if applicable) and The Author(s)

About this chapter

Cite this chapter

Beltrame, F., Previtali, D. (2016). Introduction. In: Valuing Banks. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-56142-8_1

Download citation

  • DOI: https://doi.org/10.1057/978-1-137-56142-8_1

  • Published:

  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-137-56141-1

  • Online ISBN: 978-1-137-56142-8

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

Publish with us

Policies and ethics