@article{772208,
      recid = {772208},
      author = {Beltrame, Federico, and Previtali, Daniele,},
      title = {Valuing Banks : a New Corporate Finance Approach /},
      pages = {1 online resource (xxiv, 242 pages) :},
      abstract = {Bank valuation is one of the most difficult topics to  address in corporate finance. The application of standard  valuation methodologies can be limited and heavily  influenced by the varying specifics of regulation, business  process, equity and debt capital function (among others)  among banks. Generally, these limitations result in the  application of a simplified equity-side approach based on  dividends. Yet, dividends represent a synthetic measure of  cash and, therefore, often do not present an accurate view  of the value creation process in terms of cash flows. 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.},
      url = {http://library.usi.edu/record/772208},
      doi = {https://doi.org/10.1057/978-1-137-56142-8},
}