English  |  正體中文  |  简体中文  |  Items with full text/Total items : 52572/87736 (60%)
Visitors : 9378995      Online Users : 35
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/19565

    Title: The determination of optimal bank lending decisions during acquisitions: An option value approach
    Authors: Hsu, Yin-Chieh;Lin, Jyh-horng
    Contributors: 淡江大學國際貿易學系
    Keywords: Bank acquisitions & mergers;Bank loans;Mathematical models;Studies;Economic models
    Date: 2003-03
    Issue Date: 2009-11-04 17:23:19 (UTC+8)
    Publisher: International journal of management
    Abstract: This paper shows how an opportunity for future bank acquisition can be viewed as call options, how its valuation relates to bank lending, and its effect on the incentive to conduct bank acquisitions. Given this incentive, the optimal bank lending decision demonstrates that the marginal Tobin's q in the acquisition and non-acquisition alternatives must be equal. Moreover the acquirer bank's loan market value increases with volatility. This paper suggests that bank acquisition can also be important in influencing a bank's lending decision. A theoretical acquisition framework is set up, along with several model assumptions. The paper applies equilibrium and comparative statistical analysis. In this paper, a simple Black-Scholes model is developed to study optimal bank lending, considering opportunities for a future acquisition. This paper demonstrates a crucial link between bank lending and acquisition decisions on pricing the acquirer bank's risk-adjusted equity.
    Relation: International Journal of Management 20(1), pp.36-42
    Appears in Collections:[國際企業學系暨研究所] 期刊論文

    Files in This Item:

    File Description SizeFormat
    The determination of optimal bank lending decisions during acquisitions An option value approach.pdf1528KbAdobe PDF0View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback