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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CitationEichner, Korbinian: Zur Variabilität des Price/Book-Multiplikators bei der Bewertung von Banken. , 2017, Statisticshttps://www.alexandria.unisg.ch/id/eprint/251202
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