Zur Variabilität des Price/Book-Multiplikators bei der Bewertung von Banken

Item Type Monograph (Working Paper)
Abstract This article studies empirically influencing factors of Price/Book-Multiples of banks with a particular focus on capital requirements according to Basel-III-framework. The analyses are based on a sample of 315 observations of European financial institutions. The presented results show that the level of the P/B-multiple can be explained by the banks’ specific operating risks, their expected (excess) returns of equity, future earnings growth, retention rates, as well as current regulatory capital ratios. When using the Price/Book-multiple to check the plausibility of objectified business values or subjective values for decision-making purposes, the selection of peer companies should be based on these variables, as these variables influence materially the level of this multiple.
Authors Eichner, Korbinian
Language German
Subjects business studies
economics
finance
HSG Classification contribution to scientific community
Date 10 July 2017
Number of Pages 31
Depositing User Dr. Korbinian Eichner
Date Deposited 10 Jul 2017 18:40
Last Modified 10 May 2019 08:53
URI: https://www.alexandria.unisg.ch/publications/251202

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Eichner, Korbinian: Zur Variabilität des Price/Book-Multiplikators bei der Bewertung von Banken. , 2017,

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https://www.alexandria.unisg.ch/id/eprint/251202
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