Case study: company valuation of Haitong Bank S.A

Detalhes bibliográficos
Autor(a) principal: Zhang Rui
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/17184
Resumo: In the past year, Chinese companies were more and more positive to participate in the international business activity. For instance, in global cross-border Mergers & Acquisitions, China became the second largest global investor behind the United States with US$ 140 billion in completed M&A transactions in 2016. The popular targets for Chinese buyers in 2016 were industrial, high tech, financials, and entertainment. Hence it is interesting to select a Chinese company, Haitong Bank S.A., and understand its performance after-acquisition. The analysis of Haitong Bank, which included estimating its equity value and comparing it with its peers, could be a reference for the investors in Haitong Bank S.A., making them consider whether they should continue to invest in Haitong Bank S.A. In the valuation process, the change of business model of Haitong Bank and the cost reduction strategy had a significant impact on the final outcomes. In this study, the final recommendation for the investor is to continue investing.
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spelling Case study: company valuation of Haitong Bank S.AEquity valueFree cash flow modelMultiplesInstituições financeirasCapital económicoFusão de empresasAcionistaEstudo de casosTrabalho de projetoChinaIn the past year, Chinese companies were more and more positive to participate in the international business activity. For instance, in global cross-border Mergers & Acquisitions, China became the second largest global investor behind the United States with US$ 140 billion in completed M&A transactions in 2016. The popular targets for Chinese buyers in 2016 were industrial, high tech, financials, and entertainment. Hence it is interesting to select a Chinese company, Haitong Bank S.A., and understand its performance after-acquisition. The analysis of Haitong Bank, which included estimating its equity value and comparing it with its peers, could be a reference for the investors in Haitong Bank S.A., making them consider whether they should continue to invest in Haitong Bank S.A. In the valuation process, the change of business model of Haitong Bank and the cost reduction strategy had a significant impact on the final outcomes. In this study, the final recommendation for the investor is to continue investing.Nos últimos tempos, as empresas chinesas participaram mais nos negócios a nível internacional. Por exemplo, a nível das fusões e aquisições internacionais a China foi o segundo maior investidor logo depois dos Estados Unidos, tendo atingido um volume global de US$ 140 biliões de transações realizadas. Os alvos mais habituais para os compradores Chineses em 2016 foram empresas industriais, de alta tecnologia, instituições financeiras e empresas de entertinimento. Daí que seja interessante escolher uma empresa chinesa, Haitong Bank S.A., e analisar a sua performance após a sua aquisição. A análise do Haitong Bank, que inclui a estimative do seu valor e a sua comparação com outras empresas do sector, pode ser uma referência para ajudar os investidores a decider se devem ou não continuar a investir naquela instituição financeira. No processo de avaliação a mudança do modelo de negócio do Banco e a estratégia de redução de custos têm um impacto significativo nos resultados obtidos. Neste estudo a recomendação final para os imvestidores é que devem continuar a investir na empresa.2019-02-07T14:41:18Z2020-02-07T00:00:00Z2018-06-26T00:00:00Z2018-06-262018-03info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/17184TID:201948370engZhang Ruiinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T18:00:05Zoai:repositorio.iscte-iul.pt:10071/17184Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:31:44.822908Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Case study: company valuation of Haitong Bank S.A
title Case study: company valuation of Haitong Bank S.A
spellingShingle Case study: company valuation of Haitong Bank S.A
Zhang Rui
Equity value
Free cash flow model
Multiples
Instituições financeiras
Capital económico
Fusão de empresas
Acionista
Estudo de casos
Trabalho de projeto
China
title_short Case study: company valuation of Haitong Bank S.A
title_full Case study: company valuation of Haitong Bank S.A
title_fullStr Case study: company valuation of Haitong Bank S.A
title_full_unstemmed Case study: company valuation of Haitong Bank S.A
title_sort Case study: company valuation of Haitong Bank S.A
author Zhang Rui
author_facet Zhang Rui
author_role author
dc.contributor.author.fl_str_mv Zhang Rui
dc.subject.por.fl_str_mv Equity value
Free cash flow model
Multiples
Instituições financeiras
Capital económico
Fusão de empresas
Acionista
Estudo de casos
Trabalho de projeto
China
topic Equity value
Free cash flow model
Multiples
Instituições financeiras
Capital económico
Fusão de empresas
Acionista
Estudo de casos
Trabalho de projeto
China
description In the past year, Chinese companies were more and more positive to participate in the international business activity. For instance, in global cross-border Mergers & Acquisitions, China became the second largest global investor behind the United States with US$ 140 billion in completed M&A transactions in 2016. The popular targets for Chinese buyers in 2016 were industrial, high tech, financials, and entertainment. Hence it is interesting to select a Chinese company, Haitong Bank S.A., and understand its performance after-acquisition. The analysis of Haitong Bank, which included estimating its equity value and comparing it with its peers, could be a reference for the investors in Haitong Bank S.A., making them consider whether they should continue to invest in Haitong Bank S.A. In the valuation process, the change of business model of Haitong Bank and the cost reduction strategy had a significant impact on the final outcomes. In this study, the final recommendation for the investor is to continue investing.
publishDate 2018
dc.date.none.fl_str_mv 2018-06-26T00:00:00Z
2018-06-26
2018-03
2019-02-07T14:41:18Z
2020-02-07T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/17184
TID:201948370
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identifier_str_mv TID:201948370
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instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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