Resource title

Universal banking: a shareholder value perspective

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This paper begins by adding adjusted book value of a universal bank's equity a number of building-blocks that ultimately determine the market value of its equity. It then asks whether that market value of equity is in fact the maximum value attainable from the perspective of the sharholder. Finally, the paper outlines some of the strategic and tactical alternatives, inside and outside the bank, that are open to management in order to achieve ahypothetical maximum value of shareholder equity. Whatever empirical evidence is available in the literature is brougth to bear in the course of the discussion

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en

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application/pdf

Resource resource URL

http://flora.insead.edu/fichiersti_wp/inseadwp1996/96-87.pdf

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Copyright INSEAD. All rights reserved