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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.
Auteur
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.
Résumé
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.
Contenu
Preface xi
Acknowledgments xvii
PART I: FINANCIAL SERVICES INDUSTRY: ITS MARKETS, REGULATIONS, AND GOVERNANCE 1
Chapter 1: Fundamentals of the Financial Markets and Institutions 3
Introduction 3
Financial Markets 3
Financial Information and Capital Markets 4
Financial Crisis and Financial Regulatory Reforms 5
Types and Roles of Financial Markets 15
Financial Services Firms 21
Conclusion 24
Notes 25
Chapter 2: Introduction to Financial Institutions 27
Introduction 27
Landscape of the Financial Services Industry 27
Structural Changes in the Financial Services Industry 28
Historical Perspective of American Banking 42
Current Trends in the Financial Services Banking Industry 43
Regulatory Reforms 46
Valuation Process 55
Conclusion 56
Notes 57
Chapter 3: Corporate Governance 61
Introduction 61
Corporate Governance Effectiveness 62
Global Regulatory Reforms 66
Sarbanes-Oxley Act of 2002 70
Dodd-Frank Act 74
Corporate Governance Functions 75
Board of Directors and Its Committees 78
Audit Committee Roles and Responsibilities 80
Executive Compensation 84
Conclusion 86
Notes 86
PART II: THE FOUNDATION: FINANCIAL INSTITUTIONS, VALUATIONS, MERGERS, ACQUISITIONS, AND REGULATORY AND ACCOUNTING ENVIRONMENT 89
Chapter 4: Overview of the Valuation Process 91
Introduction 91
Valuation Services 92
Valuation Profession 94
Valuation of the Business 97
Attracting Valuation Clients 105
Accepting a Client 109
Pricing Valuation Services 111
Importance of the Engagement Letter 112
Planning an Appraisal Engagement 114
General Planning 118
Appraiser's Traits 121
Appraiser's Due Diligence Process 124
Risk Assessment 125
Conclusion 126
Notes 126
Chapter 5: Overview of Mergers and Acquisitions 127
Introduction 127
Historical Perspective of Mergers and Acquisitions 128
Recent Trends in Mergers and Acquisitions 130
Regulations of Bank Mergers 136
Players in Mergers and Acquisitions 142
Motives for Business Combinations 146
Determinants of Mergers and Acquisitions 148
Perceived Shortcomings of Mergers and Acquisitions 152
Studies on Mergers and Acquisitions 155
Leveraged Buyout 159
Post Mergers and Acquisitions Performance 160
Shareholder Wealth and Effect of Mergers and Acquisitions 161
Joint Ventures and Strategic Alliances 162
Ethics in Mergers and Acquisitions 163
Governance in Mergers and Acquisitions 164
Mergers and Acquisitions Process 165
Conclusion 181
Notes 183
Chapter 6: Regulatory Environment and Financial Reporting Process of Financial Institutions 187
Introduction 187
Consolidation 187
Regulatory Environment 192
Bank Supervision 198
Financial Modernization: The Gramm-Leach-Bliley Act 205
Financial Reporting Process of Financial Institutions 208
Statement of Financial Accounting Standards No. 115 212
Auditing Proper Classifications of Marketable Securities 214
Tax Consideration of Fair Value 215
Recent Development of Fair Value Accounting 218
Financial Reporting Requirements of Financial Institutions 222
Corporate Governance of Financial Institutions 228
Conclusion 237
Notes 238
PART III: FUNDAMENTALS OF VALUATIONS: CONCEPTS, STANDARDS, AND TECHNIQUES 241 **Chapter 7: Value and Valuation: A Conceptual Foundation 243<...