Researches on valuation of listed banks

Conceptually speaking, value assessment of banks is quite difficult. One of the major capital resources of banks is deposit collected by banks rather than any other capitals acquired from the market. Compared with other companies, it is hard to estimate the capital cost of such deposit. In general, due to the high financial leverage ratio, presently listed banks in our country are in a rapid-growth period without any fixed dividend payment policy, so EVA is more preferred for the above value assessment.