Banks and Shareholder Value - An Overview of Bank Valuation and Empirical Evidence on Shareholder Value for Banks

Foreword

Preface

Summary of Contents

Table of Contents

List of Figures

List of Tables

List of Abbreviations

List of Symbols

I. Introduction

II. How to measure the shareholder value of banks?

II. 1 Motivation and key research questions

II.2 Overview of bank valuation literature

II.3 Bank specifics in the context of valuation

II.4 Valuation methods and their applicability to banks

II.5 Measuring the shareholder value of banks

III. Empirical relevance of shareholder value for banks

III.l Motivation and key research questions

III.2 Overview of existing research

IIL3 Data and methodology

III.4 Accuracy and explanatory value of residual income value estimates

IIL5 Determinants of the prediction error

III.6 Sensitivity analyses

III.7 Conclusions

IV. Value drivers of retail banks

IV. 1 Motivation and key research questions

IV.2 Derivation of value driver model for banks

IV.3 Data and methodology

IV.4 Empirical results

IV. 5 Conclusions

References

List of Appendices