Zabihollah Rezaee, Ram Menon

Financial Services Firms

Governance, Regulations, Valuations, Mergers, and Acquisitions

• Gebundenes Buch

Produktbeschreibung

Indispensable coverage of new federal regulatory reforms and federal financial issues

An essential guide covering new federal regulatory reforms and federal financial issues

Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition presents a new regulatory framework for financial institutions in the post-bailout era.
Provides valuable guidance to assess risks, measure performance and conduct valuations processes to create shareholder value
Covers the protection of other stakeholders, including customers, regulators, government, and consumers
Offers an up-to-date understanding of financial institutions, their challenges, and their opportunities in the post-Sarbanes-Oxley era

Over the past decade, substantial changes have taken place in the structure and range of products and services provided by the financial services industry. Get current coverage of these changes that have transformed both traditional organizations such as banks, thrifts, and insurance companies, as well as securities providers, asset management companies and financial holding companies with the up-to-the-minute coverage found in Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition.

Produktdetails

• Wiley Corporate F&A
• Verlag: Wiley & Sons
• Artikelnr. des Verlages: 14560447000
• 3. Aufl.
• Seitenzahl: 600
• Erscheinungstermin: 9. August 2011
• Englisch
• Abmessung: 261mm x 192mm x 50mm
• Gewicht: 1229g
• ISBN-13: 9780470604472
• ISBN-10: 0470604476
• Artikelnr.: 29925057

Autorenporträt

ZABIHOLLAH REZAEE, PhD, CPA, CFE, CMA, CIA, CGFM, is the Thompson-Hill Chair of Excellence and Professor of Accountancy at the University of Memphis and has served a two-year term on the Standing Advisory Group (SAG) of the PCAOB. He is a prolific writer, having published six books and 190 articles in a variety of accounting and business journals.

Inhaltsangabe

Preface. Acknowledgments. Part I: Financial Services Industry: Its Markets,
Regulations, and Governance. Chapter 1: Fundamentals of the Financial
Markets and Institutions. Introduction. The Financial Markets. Financial
Information and Capital Markets. Financial Crisis and Financial Regulatory
Reforms. Types and Roles of Financial Markets. Financial Services Firms.
Conclusion. Notes. Chapter 2: Introduction to Financial Institutions.
Introduction. Landscape of the Financial Services Industry. Structural
Changes in the Financial Services Industry. Historical Perspective of
American Banking. Current Trends in the Financial Services Banking
Industry. Regulatory Reforms. Valuation Process. Conclusion. Notes. Chapter
3: Corporate Governance. Introduction. Corporate Governance Effectiveness.
Global Regulatory Reforms. Sarbanes-Oxley Act of 2002. The Dodd-Frank Act.
Corporate Governance Functions. Board of Directors and its Committees.
Audit Committee Roles and Responsibilities. Executive Compensation.
Conclusion. Notes. Part II: The Foundation: Financial Institutions,
Valuations, Mergers, Acquisitions, Regulatory and Accounting Environment.
Chapter 4: Overview of the Valuation Process. Introduction. Valuation
Services. Valuation Profession. Valuation of the Business. Attracting
Valuation Clients. Accepting a Client. Pricing Valuation Services.
Importance of the Engagement Letter. Planning an Appraisal Engagement.
General Planning. Appraiser's Traits. Appraiser's Due Diligence Process.
Risk Assessment. Conclusion. Notes. Chapter 5: Overview of Mergers and
Acquisitions. Introduction. Historical Perspective of M & A. Recent Trends
in M & A. Regulations of Bank Mergers. The Players in M&A. Motives for
Business Combinations. Determinants of Mergers and Acquisitions. Perceived
Shortcomings of M & A. Studies on Mergers and Acquisitions. Leveraged
Buyout. Post M&A Performance. Shareholders' Wealth and Effect of M&A. Joint
Ventures and Strategic Alliances. Ethics in M&A. Governance in M&A. Mergers
and Acquisitions Process. Conclusion. Notes. Chapter 6: Regulatory
Environment and Financial Reporting Process of Financial Institutions.
Introduction. Consolidation. Regulatory Environment. Bank Supervision.
Financial Modernization: The Gramm-Leach-Bliley Act. Financial Reporting
Process of Financial Institutions. Statement of Financial Accounting
Standards (SFAS) No. 115. Auditing Proper Classifications of Marketable
Securities. Tax Consideration of Fair Value. Recent Development of Fair
Value Accounting. Financial Reporting Requirements of Financial
Institutions. Corporate Governance of Financial Institutions. Conclusion.
Notes. Part III: Fundamentals of Valuations: Concepts, Standards, and
Techniques. Chapter 7: Value and Valuation: A Conceptual Foundation.
Asset-Liability Management. Investment Management. Lending Management.
Liquidity Management. The Nature of Value. Twelve Concepts of Value. Types
of Property That Can Be Valued. Relationship among Different Types of
Value. Principles of Valuation Theory. Pricing Value Versus Reporting
Value. Limitations of the Valuation Process. Notes. Chapter 8: Approaches
to Measuring Value. Overview of the Valuation Process. The Cost Approach to
Valuation. The Market Approach to Valuation. The Income Approach to
Valuation. Special Topics--Approches to Intangible Asset Valuation. Special
Topics--Business Valuation. Valuation and Business Concentrations. Special
Topics--Closely Held Stock. Special Topics--Valuing Widely Traded
Companies. Conclusion. Notes. Chapter 9: Valuations for Tax and Accounting
Purposes. Tax Aspects of Mergers and Acquisitions. Typical Tax-Oriented
Valuations. Accounting Aspects of Mergers and Acquisitions. Typical
Accounting-Oriented Valuations. Acquisition Method. Business Combinations
Presentation, Disclosure, and Transition Requirements. Convergence in
Accounting Standards on M&A. Conclusion. Notes. Chapter 10: Intangible
Asset Valuation. Nature and Types of Intangible Assets. Amortizable versus
Nonamortizable Intangible Assets. Measuring the Useful Life of an
Intangible Asset. Establishing Value of Intangible Assets. Amortization
Methods. Supporting Intangible Asset Valuation and Amortization. Goodwill
Impairment. Conclusion. Notes. Part IV: Assessment of Financial
Institutions. Chapter 11: Financial Analysis of Banks and Bank Holding
Companies. Types and Sources of Financial Data. Overview of Financial
Statements. Composition of Bank Assets. Composition of Bank Liabilities.
Off-Balance Sheet Items. Composition of Bank Capital. Regulatory Capital
Components. Risk-Based Capital. Value-at-Risk (VaR) Models. Composition of
Bank Income. Composition of Bank Expenses. Balance Sheet Analysis
Illustration. Income Statement and Profitability Analysis Illustration.
Loan Risk Analysis Illustration. Liquidity and Investment Portfolio
Analysis Illustration. Portfolio Equities Analysis (Realm Model). Special
Bank Holding Company Considerations. Liability Management. Conclusion.
Notes. Chapter 12: Internal Characteristics Assessment. Objectives and
Benefits of an Internal Characteristics Assessment. The "Ten P Factor"
Framework. Shareholder Value Creation. Conclusion. Notes. Chapter 13:
External Environment Assessment. Impact of External Environment on Value.
Political Analysis. Economic Analysis. Social Analysis. Technological
Analysis. Other Analysis. Conclusion. Note. Part V: Valuation of Mergers
and Acquisitions. Chapter 14: The Bank Merger and Acquisition Process.
Strategy Phase. Negotiation and Investigation Phase. Finalization and
Integration Phase. Other Considerations. Conclusion. Note. Chapter 15:
Valuing a Bank as a Business Enterprise. Business Enterprise versus a
Collection of Assets. The Concept of the Banking Franchise. Difference
between Strategic and Tactical Valuations. Why the Cost Approach is not
Used for Strategic Bank Valuations. Application of the Market Approach to
Valuing a Bank. Application of the Income Approach to Valuing a Bank.
Sensitivity of Value Estimate to Assumption Changes. Value Creation
Opportunities and the Acquisition Price. Valuation Methods for Mergers and
Acquisitions. Sophisticated Valuation Techniques for Mergers and
Acquisitions. Relation between Price and Value and Effect on Stockholders.
Conclusion. Notes. Chapter 16: Valuation of Tangible Bank Assets. Tangible
Physical Assets. Tangible Financial Assets. Tangible Assets in Bank Mergers
and Acquisitions. Intangible Assets in Bank Mergers and Acquisitions.
Conclusion. Chapter 17: Core Deposits as a Special Type of Intangible Asset
Valuation. The Concept of Core Deposit Base as an Intangible Asset.
Internal Revenue Service Position on Core Deposits. Important Core Deposit
Tax Court Cases. Deposits to be Included in Valuation. Alternative
Approaches to Valuing a Core Deposit Base. Core Deposit Base Life
Estimation. Application of the Cost Savings Approach. Application of the
Future Income Approach. Systemically Important Financial Institutions.
Conclusion. Notes. Chapter 18: Derivative Financial Instruments.
Authoritative Guidelines on Derivatives. Derivative Markets. Derivatives
Risk Management. Derivatives Risk Management Policy. Accounting of
Derivatives. Tax Considerations of Derivatives. Audit of Derivative
Transactions. Sources of Information on Derivatives. Derivatives Valuation
Models. Derivatives under the Dodd-Frank Act of 2010. Conclusion. Notes.
Chapter 19: Real World Bank Valuation Complications. Banks Experiencing
Recent Losses. Banks with Low Equity Capital. Banks with Uncertain Fututre
Loan Loss Exposure. Preferred and Common Stock. Highly Leveraged Banks.
Branch Acquisitions. European Banking Model. Initial Public Offering (IPO).
Islamic Banking System. Emerging Issues in the Financial Services Industry.
Conclusion. Notes. About the Authors. Index.