Munich Personal RePEc Archive

Avaliação de Bancos: Projeção das Demonstrações de Resultado do Exercício (DRE) com Enfoque em Modelos Econométricos

Costa Junior, Celso Jose (2011): Avaliação de Bancos: Projeção das Demonstrações de Resultado do Exercício (DRE) com Enfoque em Modelos Econométricos. Published in: Revista Eletrônica de Economia da Universidade Estadual de Goiás – UEG , Vol. 7, (December 2011): pp. 87-103.

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Abstract

Due to the difficulties that the bank activity presents in a financial institution. And when using the dividend discount model in the evaluation of banks, appears the problem of not being able to estimate the net capital expenses and the working capital noncash. Considering that, this work has as proposal to use econometric methods for the projection of financial statements instead of using information on what it is expected of revenues/expenses growth supplied by the analyzed company. This aproach aims to eliminate the problem of evaluation of banks, because it would consider that the studied institutions could maintain their investment politics and administration of working capital noncash. The statistical results of the econometrics modeling were satisfactory, demonstrating that the use of econometrics models in the bank analysis is effective.

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