{"product_id":"9783658341817","title":"Finanzwirtschaft, Banken und Bankmanagement I Finance, Banks and Bank Management: Impact of G-SIB Designation and Regulation on Relative Equity Valuations","description":"\u003ch1\u003eFinanzwirtschaft, Banken und Bankmanagement I Finance, Banks and Bank Management: Impact of G-SIB Designation and Regulation on Relative Equity Valuations\u003c\/h1\u003e \u003ch2\u003eLesche, Tom Filip\u003c\/h2\u003e \u003cp\u003eThis book provides a comprehensive summary of the latest academic research on the important topic of too-big-to-fail (TBTF) in banking. It explains TBTF from various perspectives including the range of regulatory measures proposed to counter TBTF, most notably the globally accepted regulation of global-systemically important banks (G-SIBs) and its main tool of capital surcharges. The empirical analysis quantifies the shareholder value of the G-SIB attribution by using quarterly observations from more than 750 global banks between Q2 2008 and Q3 2015. The main finding is that G-SIBs are confronted with a substantial relative valuation discount compared to non-G-SIBs. From the end of 2011 until the end of 2015, a stable discount of 0.6x–0.8x price-to-tangible common equity (P\/TCE) is statistically highly significant. The results suggest that the G-SIB designation effect, which positively impacts G-SIBs’ share prices because of funding benefits from IGGs, is dominated by the regulatory G-SIB burden effect, which negatively impacts G-SIBs’ share prices because of lower profitability due to capital surcharges and other regulatory requirements placed on G-SIBs. The findings re-open the debate about whether breaking up G-SIBs would unlock shareholder value and whether G-SIBs are regulated efficiently.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer Gabler\u003c\/p\u003e \u003cp\u003ePublication Date: 2021-06-29\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783658341817\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-658-34182-4\u003c\/p\u003e \u003cp\u003eDimensions: 240cm x168cm\u003c\/p\u003e \u003cp\u003ePages: 248\u003c\/p\u003e ","brand":"Springer Fachmedien Wiesbaden","offers":[{"title":"Default Title","offer_id":45589458780300,"sku":"9783658341817","price":107.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783658341817.jpg?v=1774533366","url":"https:\/\/lateknightbooks.com\/products\/9783658341817","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}