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Shareholder value creation and risks in European banks

Author

Listed:
  • Franco Fiordelisi

    (Università di Roma Tre)

Abstract

This paper examines the determinants of shareholder value creation for a large sample of European banks. By using a panel data model, we find that bank profits and shareholder value are positively influenced by cost and profit efficiency, operational risk exposure, unexpected credit losses and financial leverage. In contrast, deposit and loan growth, liquidity risk and domestic inflation adversely impact on value creation.

Suggested Citation

  • Franco Fiordelisi, 2010. "Shareholder value creation and risks in European banks," BANCARIA, Bancaria Editrice, vol. 11, pages 23-35, November.
    • Handle: RePEc:ban:bancar:v:11:y:2010:m:november:p:23-35
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/2418/bancaria-n-12-2010
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    More about this item

    Keywords

    valore per gli shareholder; efficienza; struttura del mercato; rischio operativo; rischio di credito;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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