The aim of the chapter is to develop a comprehensive model for bank value which specifically takes into account asset composition, capital invested and capital structure, employing standard corporate finance metrics. We provide and in-depth investigation of the drivers of different components of value and identify exposure tu systematic risk which affects the cost of capital, operational performance which is affected by asset composition and capital invested which dipends on types and quality of investments.
Value Creation Drivers in European Banks: Does the Capital Structure Matter?
Pichler F.
2016-01-01
Abstract
The aim of the chapter is to develop a comprehensive model for bank value which specifically takes into account asset composition, capital invested and capital structure, employing standard corporate finance metrics. We provide and in-depth investigation of the drivers of different components of value and identify exposure tu systematic risk which affects the cost of capital, operational performance which is affected by asset composition and capital invested which dipends on types and quality of investments.
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