The book presents a pioneering initiative regarding the substantiation and development of a coherent methodological approach necessary in evaluating the ergonomics and usability of I-banking applications by using the WebQEM method. In order to experiment the WebQEM method on I-banking applications, the author conducted a comprehensive research on a sample of 26 banks in Romania, describing in detail the content and the stages of application of this calimetric method. The possibility of calculating the partial preferences for each quality feature of I-banking applications and overall quality of preferences was recovered by the author in this research, to use the great cognitive strategic potential of WebQEM. The final assessment of the quality characteristics and overall preference values obtained for each I-banking application analysis, allowed the author to make the first and only top of the banks in Romania so far, depending on the quality of I-banking applications. Given the successful adaptation of the WebQEM method to the needs of assessment of the I-banking applications, the present paper and the obtained information have a highly strategic valuing potential.
Bank M&,As in Central Eastern Europe An intensified competition is taking place in the international financial markets influenced by technological changes and to a great extent the increased integration of financial markets. Throughout the 1990th one has seen a large process of financial consolidation in the European Union due to the implementation of the single market for financial services in the beginning of the decade and more recently the introduction of the Euro. With continuously high economic growth in Central Eastern Europe (CEE) and the expansion of the European Union towards east, a similar process of consolidation is now taking place in this region. Banks play an important role in such a process, where especially foreign banks have been active on the CEE market helping in the transition of the economies and improving efficiency in the financial sectors. This book analyses, in retrospective, the expansion of Raiffeisen International AG's expansion into CEE with a focus on the challenging task of valuing potential acquisition targets.
The values or share prices of banks are influenced by the performance of macroeconomic variables, banking industry outlook as well as the operational and financial performances of banks. The objective of this book was to analyze the influences and predictive strengths of selected external and internal variables that may impact on the valuation of banks in Ghana. A non-experimental quantitative approach using multiple regression models based on the theory of Arbitrage Pricing Model (APM) was used as the research methodology. The population covered all publicly listed banks in Ghana but with more emphasis on Standard Chartered Bank (SCB) and Ghana Commercial Bank (GCB). The results showed that external variables may predict the valuation of SCB better than the valuation of GCB while internal variables may predict the valuation of GCB better than the valuation of SCB. The author recommends that investors should put more weight on analyzing internal factors when valuing a government owned bank. However, in valuing a foreign privately owned bank, more weight should be put on macroeconomic factors of the host nation.
According to the recent report about securitized debt market by Securities Industry and Financial Markets Association (2011), the outstanding US securitization market was valued at $11 trillion at the peak by the end of 2007, making it almost twice the size of US treasures, which were valued at $4.5 trillion. Securitizations involve the package and selling of the mortgages and receivables to generate cash for new loan originations, which are directly tied to mortgage lending market and therefore the blame of the financial crisis. A growing number of research studies the role in which accounting discretion (or lack thereof) contributed to the housing bubble. Most of the accounting-related research in this area focuses on the (effective or non-effective) role of fair value accounting in valuing the banks' assets and riskiness (Katz 2008). However, another aspect of accounting discretion that received less attention but nonetheless may have played a significant role in contributing to the housing bubble is timely loss recognition.
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.
The definitive guide to complying with the brand-newBasel III requirements and creating sustainable valueWith the Final Standard of Basel III published and implementation deadlines set, there's no better time for the revised and updated edition of the cornerstone resource bankers, bank regulators, auditors, and risk managers worldwide rely on-- Bank Valuation and Value-Based Management . Whether you're complying with the new standards of practice, valuing a bank, or searching forsustainable value creation, you can do it quicker and more effectively with the insight only Jean Dermine can offer.Renowned for his expertise in asset and liabilitymanagement, European financial markets, and banking theory, Dermine provides the most comprehensivereference available on the essence of banking--asset-liability management, with particular focus on an institution's banking book. Along with an in-depth exploration of what drives value in a bank, he equips you with his personal bank valuation model aimed at assessing decisions that enhance shareholder value. Complementing his toolbox of practical instruments for valuing banks, Dermine gives you a robust, integrated value-based management framework for addressing such managerialissues as fund transfer pricing, risk-adjusted performanceevaluation, deposit pricing, capital management, loan pricing and provisioning, securitization, and the measurement of interest-rate risk.Relevant in banking systems across the globe, this new edition includes the latest methods and strategies for:Identifying the drivers of sustainable value creationChoosing a fund transfer price that includes liquidity and solvency risksAllocating economic capital to business unitsPricing deposits and loansEstimating the duration of nonmaturing accountsAllocating provisions on performing and nonperforming loans.Throughout the book, extensive mathematical formulas and exercises ground conceptual coverage to hands-on practices. A wealth of exercises and real-world problems work to develop your intuitive sense for asset-liability management in the international banking community.Bank Valuation and Value-Based Management , Second Edition, is your one-stop resource for all the information critical to your success.PRAISE FOR BANK VALUATION AND VALUE BASED MANAGEMENT , Second Edition:"Professor Dermine's book covers the full range of critical topics in banking today--valuation, pricing, and risk management. Analytical, complete, and relevant, this book is a gem! At a time of increased scrutiny of the banking industry, this volume uses an analytic approach that will serve the reader well for years to come. A must-read for anyone in the profession." -- ANTHONY M. SANTOMERO, Director, Citigroup, former president, Federal Reserve Bank of Philadelphia, Senior Advisor, McKinsey & Company, and Richard K. Mellon Professor Emeritus of Finance, the Wharton School"Valuing banks, especially large and complex ones, poses special challenges that recent history has made abundantly clear at great cost to investors and taxpayers. This second edition of the leading volume in the field builds on its strengths as a comprehensive treatment of thekey valuation and bank management components. It is a must-read for anyone seeking to understand modern banking and finance." -- INGO WALTER, Seymour Milstein Professor of Finance, Corporate Governance, and Ethics at the Stern School of Business, New York University"It is extraordinarily clear and very helpful for my day-to-day activity. It is significantly increasing my understanding of the bank." -- PAOLO BELTRATTI, Professor of Finance, Bocconi University, and former chairman of the management board, Intesa Sanpaolo."A jewel. I will recommend it." -- BRUNO COLMANT, Roland Berger, former member of the NYSE management committee