tailieunhanh - Spanish Savings Banks and their Future Transformation into Private Capital Banks.Determining their Value by a Multicriteria Valuation Methodology

Another conclusion that can be drawn from the analysis is that the lack of proper risk management seems to be what has failed in recent years, rather than any particular business model. A natural next step in the analysis is to conclude that banking reforms aiming at avoiding new banking crises should focus on measures that will improve risk management in banks, rather than ring-fencing trading and market making activities. The conclusion that trading business should be ring-fenced from other forms of banking business within the same banking group is not obvious from our point of view. The report. | European Journal of Economics Finance and Administrative Sciences ISSN 1450-2275 Issue 35 2011 EuroJournals Inc. 2011 http Spanish Savings Banks and their Future Transformation into Private Capital their Value by a Multicriteria Valuation Methodology Aznar Bellver Jerónimo Faculty of Business Administration and Management Economics and Social Sciences Department Universidad Politécnica de Valencia Camino de Vera s n 46022 Valencia Spain Tel 34-963877007 E-mail jaznar@ Cervelló Royo Roberto Faculty of Business Administration and Management Economics and Social Sciences Department Universidad Politécnica de Valencia Camino de Vera s n 46022 Valencia Spain Tel 34-963877007 E-mail rocerro@ García García Fernando Faculty of Business Administration and Management Economics and Social Sciences Department Universidad Politécnica de Valencia Camino de Vera s n 46022 Valencia Spain Tel 34-963877007 E-mail fergarga@ Abstract As the result of the current international financial crisis and due to Basel II and Basel III Capital Accords the Spanish financial system is undergoing profound changes. Among the most significant changes are the mergers of savings banks and their future transformation into private capital banks. Therefore determining the value of these financial companies and their share prices is of great interest for different economic agents. This paper presents the application of a multicriteria method called CRITIC combined with the valuation ratio which together compose a valuation model. This new approach can overcome some of the problems faced by the traditional valuation methods since it calculates the value of a company by comparing with similar companies whose value is known. The comparison is made using criteria or variables which are indicative of the value of these types of companies. A case study is presented in which the combined methodology is applied to .

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