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Deposit rate ceilings and the market value of banks: the case of France 1971-1981

Author: Dermine, Jean ; Hillion, PierreINSEAD Area: FinanceIn: Journal of Money Credit and Banking, vol. 24, no. 2, May 1992 Language: EnglishDescription: p. 184-194.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: The objective of the paper is to develop an empirical methodology to assess the relationship between the market value and the asset-liability structure of banks. A simple bank valuation model is suggested and empirically tested on a sample of French banks. The paper attempts to evaluate the effect of corporate taxation, the rent on deposits subject to interest rate ceilings and the determinants of the 1974 drop in banks' market values
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The objective of the paper is to develop an empirical methodology to assess the relationship between the market value and the asset-liability structure of banks. A simple bank valuation model is suggested and empirically tested on a sample of French banks. The paper attempts to evaluate the effect of corporate taxation, the rent on deposits subject to interest rate ceilings and the determinants of the 1974 drop in banks' market values

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