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Author
Rastogi Shailesh (Symbiosis International, Pune), Agarwal Bhakti (Symbiosis International, Pune)
Title
Transparency and Disclosure (TD) and Valuation of Indian Banks
Transparentność i ujawnianie informacji a wycena banków indyjskich
Source
Bank i Kredyt, 2023, nr 5, s. 519-540, tab., bibliogr. 95 poz.
Bank & Credit
Keyword
Bankowość, Przejrzystość, Informacja, Wartość rynkowa
Banking, Transparency, Information, Market value
Note
JEL Classification: C23, G21, G32, G34
streszcz., summ.
Country
Indie
India
Abstract
Celem opracowania jest rozpoznanie, jak transparentność i ujawnienia informacji dokonywane przez banki w Indiach wpływają na ich wycenę. W artykule zwrócono uwagę, że wartość rynkowa banków zależy nie tylko od sytuacji w zakresie rentowności oraz ryzyka towarzyszącego działalności, lecz także od tego, w jakim stopniu banki są transparentne i jak ujawniają informacje. Wychodząc z założenia, że przejrzystość i jawność informacji wpływają na wycenę rynkową banków, przyjęto konsekwentnie, że wartość banków można zwiększać przez transparentność i jawność informacji. W literaturze przedmiotu w niewystarczającym stopniu zwraca się uwagę na ten sposób budowania wartości rynkowej banków. (skrócony abstrakt oryginalny)

The study's main goal is to determine how TD affects bank valuation while operating performance measures are held constant. The study uses panel data regression as its approach. Panel data from 34 banks are collected for six years (2016-2021). The econometric model is specified to determine the link of TD with the valuation of the banks. The other determinants of the value in the banks are controlled while estimating the model. Interestingly, the results endorse the apprehension raised in the study that TD's influence on the bank's valuation is significant despite controlling the operating performance. Such results are unique as it is not observed in any other study which discusses the impact of TD on the valuation of the banks. The main implication and recommendation of the study are: (1) the managers should exercise proper disclosures; (2) there should be regulation on both types of disclosures (mandatory and voluntary disclosures); and (3) provisions of pecuniary punitive action should be devised in case of digression from the regulation on disclosures as the gullible small investors are in the fray and may get misguided due to possible misleading disclosures by the banks. (original abstract)
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ISSN
0137-5520
Language
eng
URI / DOI
http://dx.doi.org/10.5604/01.3001.0054.5718
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