{"product_id":"too-big-to-fail-in-banking-impact-of-g-sib-designation-and-regulation-on-relative-equity-valuations-von-tom-filip-lesche","title":"Too-Big-to-Fail in Banking","description":"This 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.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783658341817\"\u003e\u003ch3\u003eImpact of G-SIB Designation and Regulation on Relative Equity Valuations\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783658341817","offer_id":39448268177501,"sku":"9783658341817","price":117.69,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/73461_32459bec-a6f9-4b05-a3f3-b8461b4d3dd8.jpg?v=1786508720","url":"https:\/\/shop.autorenwelt.de\/products\/too-big-to-fail-in-banking-impact-of-g-sib-designation-and-regulation-on-relative-equity-valuations-von-tom-filip-lesche","provider":"Autorenwelt Shop","version":"1.0","type":"link"}