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Bovernance And Bank Valuation
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Book Synopsis Bovernance and Bank Valuation by : Gerard Caprio
Download or read book Bovernance and Bank Valuation written by Gerard Caprio and published by World Bank Publications. This book was released on 2003 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Which public policies and ownership structures enhance the governance of banks? This paper constructs a new database on the ownership of banks internationally and then assesses the ramifications of ownership, shareholder protection laws, and supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks are not widely held, but rather families or the State tend to control banks. We find that (i) larger cash flow rights by the controlling owner boosts valuations, (ii) stronger shareholder protection laws increase valuations, and (iii) greater cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are consistent with the views that expropriation of minority shareholders is important internationally, that laws can restrain this expropriation, and concentrated cash flow rights represent an important mechanism for governing banks. Finally, the evidence does not support the view that empowering official supervisory and regulatory agencies will increase the market valuation of banks"--NBER website
Book Synopsis Governance and Bank Valuation by : Gerard Caprio
Download or read book Governance and Bank Valuation written by Gerard Caprio and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Which public policies and ownership structures enhance the governance of banks? The authors construct a new database on the ownership of banks internationally and then assess the ramifications of ownership, shareholder protection laws, and supervisory and regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks are not widely held, but rather families or the state tend to control banks. The authors find that: (i) Larger cash flow rights by the controlling owner boosts valuations; (ii) Stronger shareholder protection laws increase valuations; and (iii) Greater cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are consistent with the views that expropriation of minority shareholders is important internationally, that laws can restrain this expropriation, and concentrated cash flow rights represent an important mechanism for governing banks. Finally, the evidence does not support the view that empowering official supervisory and regulatory agencies will increase the market valuation of banks.
Book Synopsis The Corporate Governance of Banks by : Ross Levine
Download or read book The Corporate Governance of Banks written by Ross Levine and published by World Bank Publications. This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Levine examines the corporate governance of banks. When banks efficiently mobilize and allocate funds, this lowers the cost of capital to firms, boosts capital formation, and stimulates productivity growth. So, weak governance of banks reverberates throughout the economy with negative ramifications for economic development. After reviewing the major governance concepts for corporations in general, the author discusses two special attributes of banks that make them special in practice: greater opaqueness than other industries and greater government regulation. These attributes weaken many traditional governance mechanisms. Next, he reviews emerging evidence on which government policies enhance the governance of banks and draws tentative policy lessons. In sum, existing work suggests that it is important to strengthen the ability and incentives of private investors to exert governance over banks rather than to rely excessively on government regulators. These conclusions, however, are particularly tentative because more research is needed on how legal, regulatory, and supervisory policies influence the governance of banks. This papera product of the Global Corporate Governance Forum, Corporate Governance Departmentis part of a larger effort in the department to improve the understanding of corporate governance reform in developing countries"-- World Bank web site.
Book Synopsis Financial Services Firms by : Zabihollah Rezaee
Download or read book Financial Services Firms written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2011-06-09 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indispensable coverage of new federal regulatory reforms and federal financial issues An essential guide covering new federal regulatory reforms and federal financial issues Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition presents a new regulatory framework for financial institutions in the post-bailout era. Provides valuable guidance to assess risks, measure performance and conduct valuations processes to create shareholder value Covers the protection of other stakeholders, including customers, regulators, government, and consumers Offers an up-to-date understanding of financial institutions, their challenges, and their opportunities in the post-Sarbanes-Oxley era Over the past decade, substantial changes have taken place in the structure and range of products and services provided by the financial services industry. Get current coverage of these changes that have transformed both traditional organizations such as banks, thrifts, and insurance companies, as well as securities providers, asset management companies and financial holding companies with the up-to-the-minute coverage found in Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition.
Author :Jean-Paul Page Publisher :Research Foundation of the Institute of Chartered Financial Analysts ISBN 13 :9780943205717 Total Pages :92 pages Book Rating :4.2/5 (57 download)
Book Synopsis Corporate Governance and Value Creation by : Jean-Paul Page
Download or read book Corporate Governance and Value Creation written by Jean-Paul Page and published by Research Foundation of the Institute of Chartered Financial Analysts. This book was released on 2005 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Valuation Based on Earnings by : Robert A. G. Monks
Download or read book Valuation Based on Earnings written by Robert A. G. Monks and published by John Wiley & Sons. This book was released on 2011-04-27 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Valuation for Portfolio Investment "The valuation of securities . . . is as big a subject as they come, running in multi?-dimensions from qualitative to psychological, from static todynamic, from one dominant measure to a complex soup, and using measures that range from those that are internal to the observer to those determined bythe markets. In Corporate Valuation for Portfolio Investment, Bob andhis worthy coauthor cover the full range of valuation methods." From the Foreword by Dean LeBaron Corporate valuation for portfolio investment means determining the present value of future worth. While this may sound like a straightforward task, in reality, it takes time and hard-earned experience to effectively perform this essential financial function. Robert Monks and Alexandra Lajoux understand the difficulty of this endeavor. That's why they have created Corporate Valuation for Portfolio Investment. Filled with in-depth insights and expert advice, this reliable guide addresses the many facets of valuation and reveals what it takes to determine the value of corporate equity securities for the purpose of portfolio investment. Written with the professional investor in mind, Corporate Valuation for Portfolio Investment takes you through a wide range of approaches including those primarily based in assets, earnings, cash flow, and securities prices and discusses hybrid valuation techniques that combine aspects of these four main sources of valuation information. Along the way, it also examines the importance of qualitative measures such as governance and details a variety of special situations in the life cycle of businesses, including stock splits, spin-offs, and pension funding. If you're seeking superior returns from investments in corporate equity, then you have to have a firm understanding of valuation. With Corporate Valuation for Portfolio Investment as your guide, you'll be in a better position to improve your sense of a company's worth and the possible price ranges for buy, sell, and hold decisions.
Book Synopsis Bank Risk, Governance and Regulation by : Elena Beccalli
Download or read book Bank Risk, Governance and Regulation written by Elena Beccalli and published by Springer. This book was released on 2015-08-18 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents research from leading researchers in the European banking field to explore three key areas of banking. In Bank Risk, Governance and Regulation, the authors conduct micro- and macro- level analysis of banking risks and their determinants. They explore areas such as credit quality, bank provisioning, deposit guarantee schemes, corporate governance and cost of capital. The book then goes on to analyse different aspects of the relationship between bank risk management, governance and performance. Lastly the book explores the regulation of systemic risks posed by banks, and examines the effects of novel regulatory sets on bank conduct and profitability. The research in this book focuses on aspects of the European banking system; however it also offers wider insight into the global banking space and offers comparisons to international banking systems. The study provides in-depth insight into many areas of bank risk, governance and regulation, before finally addressing the question: which banking strategies are actually feasible?
Book Synopsis Investor Protection and Corporate Governance by : Alberto Chong
Download or read book Investor Protection and Corporate Governance written by Alberto Chong and published by World Bank Publications. This book was released on 2007-06-26 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.
Book Synopsis Corporate Governance by : Ulrich Steger
Download or read book Corporate Governance written by Ulrich Steger and published by John Wiley & Sons. This book was released on 2008-08-04 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book present the value school of corporate governance,outlining a multitude of areas where corporate governance could addreal worth, and showing how this can be put into effect. No “one-size-fits-all” model emerges as a solution.Rather, the insights in this book take idiosyncrasies and dynamicsover time into consideration. They consider the main issues andtheir real causes, ownership settings, country settings and newdevelopments in corporate governance research and practice. International focus places emphasises on typical patterns,predicament and solutions instead of national laws. Points are illustrated with in-depth case studies andhighlighted learning nuggets. Alerts the reader to typical dilemmas and traps in attainingthe goal of value creation, whilst also pointing to promisingavenues forward.
Book Synopsis The Public Wealth of Nations by : D. Detter
Download or read book The Public Wealth of Nations written by D. Detter and published by Springer. This book was released on 2016-02-05 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: We have spent the last three decades engaged in a pointless and irrelevant debate about the relative merits of privatization or nationalization. We have been arguing about the wrong thing while sitting on a goldmine of assets. Don’t worry about who owns those assets, worry about whether they are managed effectively. Why does this matter? Because despite the Thatcher/ Reagan economic revolution, the largest pool of wealth in the world – a global total that is much larger than the world’s total pensions savings, and ten times the total of all the sovereign wealth funds on the planet – is still comprised of commercial assets that are held in public ownership. If professionally managed, they could generate an annual yield of 2.7 trillion dollars, more than current global spending on infrastructure: transport, power, water, and communications. Based on both economic research and hands-on experience from many countries, the authors argue that publicly owned commercial assets need to be taken out of the direct and distorting control of politicians and placed under professional management in a ‘National Wealth Fund’ or its local government equivalent. Such a move would trigger much-needed structural reforms in national economies, thus resurrect strained government finances, bolster ailing economic growth, and improve the fabric of democratic institutions. This radical, reforming book was named one of the "Books of the Year".by both the FT and The Economist.
Book Synopsis Central Banking as Global Governance by : Rodney Bruce Hall
Download or read book Central Banking as Global Governance written by Rodney Bruce Hall and published by Cambridge University Press. This book was released on 2008-12-04 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money is a social convention, but with what social consequences? In this innovative study, Rodney Bruce Hall argues that those who govern the parameters of money's creation, its destruction, and its valuation are responsible for the governance of international finance. The volume is an analysis of central banking as global governance, employing the institutional philosophy of John Searle as a theoretical basis for exploring the consequences of money as a social institution, and the social relations of credit and debt. While previous studies in this field have made forays into the political economy of monetary institutions, this book breaks new ground by offering a constructivist social analysis that identifies the mechanisms of governance as social rather than material processes. The volume will therefore be of great interest to a wide range of scholars and students, particularly those with an interest in international relations, international finance and international political economy.
Book Synopsis Analyzing and Managing Banking Risk by : Hennie van Greuning
Download or read book Analyzing and Managing Banking Risk written by Hennie van Greuning and published by World Bank Publications. This book was released on 2003 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second edition of this book which considers issues involved in the assessment, analysis, and management of financial risks in banking. It highlights risk-management principles and the accountability of key players in corporate governance process, as well as discussing transparency in bank's financial statements. It also contains new material including chapters on the management of the treasury function, management of a stable liquidity investment portfolio, and a discussion of proprietary trading activities and asset management liability components. A hardback version is also available (ISBN 0821354655) containing illustrative prototype software and Excel spreadsheets which can be adapted for banking diagnostic processes.
Book Synopsis Research Handbook on International Banking and Governance by : James R. Barth
Download or read book Research Handbook on International Banking and Governance written by James R. Barth and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 767 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis has stimulated much debate on the governance of financial institutions, as well as research on the effects of governance arrangements on risk-taking, performance and financial institutions more generally. Furthermore, researchers are asking how regulation, legislation, politics and other factors influence the governance of financial institutions and their behavior in different dimensions. The specially commissioned contributions featured in this timely Handbook confront these complex issues. The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features affecting objectives and quality of governance. The chapters provide in-depth analysis of factors such as: ownership, efficiency and stability; market discipline; compensation and performance; social responsibility; and governance in non-bank financial institutions. Only through this kind of rigorous examination can one hope to implement the financial reforms necessary and sufficient to reduce the likelihood and severity of future crises. Bringing the reader to the frontier of research on governance of financial institutions, this volume is sure to inspire future research in scholars and students of financial institutions, governance and banking as well as all those involved with private financial institutions and public regulatory and supervisory authorities.
Book Synopsis Corporate Governance, Firm Profitability, and Share Valuation in the Philippines by : Asian Development Bank
Download or read book Corporate Governance, Firm Profitability, and Share Valuation in the Philippines written by Asian Development Bank and published by . This book was released on 2020-06 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines 73 publicly listed companies in the Philippines to determine the relationship between the quality of corporate governance practices and company performance. It concludes that as a company's corporate governance practices improve, there is likely to be positive and significant impacts on its market capitalization, market valuation, and profitability. The study was jointly conducted by the Asian Development Bank, the Institute of Corporate Directors, and the University of Asia and the Pacific.
Book Synopsis Valuation by : McKinsey & Company Inc.
Download or read book Valuation written by McKinsey & Company Inc. and published by John Wiley & Sons. This book was released on 2010-07-16 with total page 1200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The number one guide to corporate valuation is back and better than ever Thoroughly revised and expanded to reflect business conditions in today's volatile global economy, Valuation, Fifth Edition continues the tradition of its bestselling predecessors by providing up-to-date insights and practical advice on how to create, manage, and measure the value of an organization. Along with all new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect new developments in corporate finance, changes in accounting rules, and an enhanced global perspective. Valuation, Fifth Edition is filled with expert guidance that managers at all levels, investors, and students can use to enhance their understanding of this important discipline. Contains strategies for multi-business valuation and valuation for corporate restructuring, mergers, and acquisitions Addresses how you can interpret the results of a valuation in light of a company's competitive situation Also available: a book plus CD-ROM package (978-0-470-42469-8) as well as a stand-alone CD-ROM (978-0-470-42457-7) containing an interactive valuation DCF model Valuation, Fifth Edition stands alone in this field with its reputation of quality and consistency. If you want to hone your valuation skills today and improve them for years to come, look no further than this book.
Book Synopsis Corporate Valuation for Portfolio Investment by : Robert A. G. Monks
Download or read book Corporate Valuation for Portfolio Investment written by Robert A. G. Monks and published by John Wiley & Sons. This book was released on 2010-10-01 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed guide to the discipline of corporate valuation Designed for the professional investor who is building an investment portfolio that includes equity, Corporate Valuation for Portfolio Investment takes you through a range of approaches, including those primarily based on assets, earnings, cash flow, and securities prices, as well as hybrid techniques. Along the way, it discusses the importance of qualitative measures such as governance, which go well beyond generally accepted accounting principles and international financial reporting standards, and addresses a variety of special situations in the life cycle of businesses, including initial public offerings and bankruptcies. Engaging and informative, Corporate Valuation for Portfolio Investment also contains formulas, checklists, and models that the authors, or other experts, have found useful in making equity investments. Presents more than a dozen hybrid approaches to valuation, explaining their relevance to different types of investors Charts stock market trends, both verbally and visually, enabling investors to think like traders when needed Offers valuation guidance based on less quantitative factors, namely management quality and factors relating to the company and the economy Corporate Valuation for Portfolio Investment puts this dynamic discipline in perspective and presents proven ways to determine the value of corporate equity securities for the purpose of portfolio investment.
Book Synopsis International Convergence of Capital Measurement and Capital Standards by :
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
