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    National Tsing Hua University Institutional Repository > 科技管理學院  > 計量財務金融學系 > 專書論文 >  A Comprehensive Analysis of Bank Consolidation Values: A Real Option Approach

    Please use this identifier to cite or link to this item: http://nthur.lib.nthu.edu.tw/dspace/handle/987654321/62018

    Title: A Comprehensive Analysis of Bank Consolidation Values: A Real Option Approach
    Authors: Chuang-Chang Chang;Pei-Fang Hsieh;Hung-Neng Lai
    教師: 謝佩芳
    Date: 2009
    Publisher: Springer Verlag
    Relation: Handbook of Quantitative Finance and Risk Management, Springer Verlag,Chapter 38, 2009
    Keywords: Comprehensive Analysis
    Bank Consolidation Values
    Real Option
    Abstract: In this paper, we modify Schwartz and Moon (2000) model to value bank consolidation. From the case study (the first case of Taiwanese bank merge), we find that the consolidation value from the ex-ante viewpoint is average about 30% of the original total values of the associated banks. Further, we find that the probability of bankruptcy after merge will much lower than that of before merge. Hence it is worthwhile to merge for each bank in our case study. We also find that the changes in the growth rate in the integrated loan, the changes in the growth rate in the integrated deposits and the saving factors of cost functions play most important roles in the gratitude of increased consolidation value of bank merge.
    URI: http://www.centerforpbbefr.rutgers.edu/Jan11-2008%20papers/3-1.pdf
    Appears in Collections:[計量財務金融學系] 專書論文

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