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EVA를 통해 본 은행의 부가가치 제고방안(How to enhance value of the banking firm: Using the Economic Value Added (EVA) approach)

Related Document
Frame of Image  차감한 것을 말한다. EVA는 자본비용 이상의 이익 을 실현하는 것을 기업재무의 목표로 설정함으로써 주주가치의 극대화로 연결된 다는 점에서 의미가 있다. 본고는 우리나라 은행산업의 EVA를 측정해 보고 이를 다양한 수익성 지표와 비교분석함으로써 은행의 부가가치 제고에 요구되는 실천방안을 제시한다. 그 동안 엄밀한 분석에 기초하지 않고 선언적으로 제시되던 은행의 전략방향에 대하 여 체계적인 대안을 제시하고 있으며, 특히 부외자산의 증가 필요성, 경영의 연속 성 확보 등에 대한 객관적인 증거를 제시하고 있다. 아무쪼록 본 연구가 국내은행 들의 전략적 의사결정 시점에 주요한 자료로 활용되고, 향후 금융정책 수립과정 에 유용하게 반영됨으로써 국내 은행산업의 경쟁력제고에 보탬이 될 수 있기를 기대한다.
보고서 작성을 담당한 김우진 박사와 오랜 준비과정에서 자료수집과 정리를 도와준 정치수 연구원, 박민숙 연구비서의 노고를 치하하며, 끝으로 본 보고서 의 내용은 집필자 개인의 의견으로서 연구원의 공식 견해가 아님을 밝혀 둔다.
2008년 6월
한국금융연구원 원장 이 동 걸
목
요약
차
Ⅰ. 논의의 배경 ······························· 1 ······························· ······························ Ⅱ. 경제적 부가가치(EVA)에 대한 이해 ··················3 ················· ················· 1. EVA의 개념 및 의의 ························ 3 ························ ······················· 2. EVA에 의한 부가가치 측정의 적정성 ··············· 8 ··············· ·············· 3. EVA를 활용한 기존 연구 ····················· 12 ····················· ···················· Ⅲ. 은행의 EVA ······························ 16 ······························ ······························ ··························· ··························· 1. 은행업과 EVA ··························· 16 2. 구체적 조정항목 ·························· 17 ·························· ························· 3. EVA를 활용한 국내은행 성과분석 ················ 26 ················ ··············· Ⅳ. 국내은행의 EVA 결정요인 분석 ··················· 34 ··················· ·················· 1. 모델 specification ························ 34 ··


Full Text
Title EVA를 통해 본 은행의 부가가치 제고방안(How to enhance value of the banking firm: Using the Economic Value Added (EVA) approach)
Similar Titles
Material Type Reports
Author(Korean)

김우진

Publisher

서울:한국금융연구원

Date 2008-06
Series Title; No 금융조사보고서 / 2008-02
ISBN 89-503-0377-9 93320
Pages 101
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding 한국금융연구원; KDI 국제정책대학원

Abstract

When measuring a bank’s profitability, financial indices such as ROA and net income have some weaknesses. In many cases, these are not only arbitrary indicators, but it is also difficult to eliminate a one-off effect. It turns out that the EVA indicator is more suitable approach to accurately estimate shareholders’value.
We found that Korean banks’ EVAs have improved since 2001, due to after-tax operating profit outperforming the financing cost of capital, but also have shown signs of decline since 2004. This demonstrates a trend that profit before loan provisioning is slowing, although profit scale is increasing, as of recently.
On the surface, from a net income perspective, Korean banks seem to have had no systematic risk between 1993 and 1996, because of a suplus in profit during this time. However, in the same period, EVA has been negative. This indicates that some Korean banks must have experienced an insolvency problem well before the financial crisis of 1997.
Analysis through the EVA approach shows that it is necessary to push ahead with plans for solidifying operational base, growing by off- balance sheet activities, optimizing the labor force, guaranteeing the continuity of corporate governance, and so on for sustained growth.