{"product_id":"too-big-to-fail-in-banking-impact-of-g-sib-designation-and-regulation-on-relative-equity-valuations-9783658341817","title":"Too-Big-To-Fail in Banking: Impact of G-Sib Designation and Regulation on Relative Equity Valuations","description":"\u003cp\u003e • Author(s): Tom Filip Lesche\u003cbr\u003e • Publisher: Springer\u003cbr\u003e • Publisher Imprint: Springer Gabler\u003cbr\u003e • BISAC: Finance - General\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eFrom the Back Cover\u003c\/b\u003e\u003cbr\u003eThis 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.\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cb\u003eDr. Tom Filip Lesche\u003c\/b\u003e is a venture capitalist investing into financial technology companies. Previously he was an investment banker advising financial institutions on capital markets and M\u0026amp;A transactions.\u003cbr\u003e\u003c\/p\u003e","brand":"Springer","offers":[{"title":"Paperback","offer_id":45279397478551,"sku":"9783658341817","price":8079.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783658341817.webp?v=1769293469","url":"https:\/\/atlanticbooks.com\/products\/too-big-to-fail-in-banking-impact-of-g-sib-designation-and-regulation-on-relative-equity-valuations-9783658341817","provider":"Atlantic Books","version":"1.0","type":"link"}