MANAGING FINANCIAL INSTITUTIONS: AN INTEGRATED VALUATION APPROACH

This book takes a novel approach to solving a financial manager's problems by applying a valuation focus to the firm's risk management decisions. Rather than concentrating solely on defining and measuring a bank's risks, our book goes a step further by explicitly considering how these risks can impact the market value of the bank from a shareholder's perspective. The book uses an integrated valuation framework which quantifies the costs and benefits of how a bank should manage its main risks associated with key functions such as lending, investing, financing, and liquidity provision. The book's hands-on approach to learning also incorporates useful tools for student learning, such as helpful mnemonics, illustrative examples, and a spreadsheet which brings the concepts discussed in the book to life. It is a must-read for readers eager to improve their risk management skills.

Michael S Pagano is the Robert J and Mary Ellen Darretta Endowed Chair in Finance at Villanova University where he has received several awards for both teaching excellence and academic scholarship, including the University-wide Outstanding Faculty Research Award. He currently serves as the Co-Editor of The Financial Review and has published over 50 articles in the areas of financial markets, financial institutions, risk management, and valuation. In addition to this book, Dr Pagano has published Liquidity, Markets, and Trading: An Interdisciplinary Approach.

Beyond his academic work, Dr Pagano is involved with various professional organizations such as the Board of Trustees of the ETF Architect Series Trust. He has also served as a member of the Board of Directors at Citadel Credit Union and Finra's Market Regulation Committee. In addition to media commentary and financial consulting work that he has performed in recent years, he holds the Chartered Financial Analyst (CFA®) designation. Further, he has prior professional experience in private banking, investment analysis, and general management.

John Sedunov is a Professor of Finance at Villanova University's School of Business. His research interests include financial institutions, financial crises, FinTech, and risk management. Professor Sedunov's work has been published in outlets such as Management Science, the Journal of Financial Intermediation, the Journal of Financial Stability, the Journal of Banking and Finance, and the Journal of Financial Research.

He currently serves as a banking subject editor for Emerging Markets Review, and an associate editor for The Financial Review, The Journal of Financial Research, and the Quarterly Journal of Finance. Professor Sedunov's research and comments have been featured in a variety of media outlets, including The Wall Street Journal, Financial Times, USA Today, thestreet.com, CNBC.com, US News & World Report, CNN, Kiplinger, Washington Post, Los Angeles Times, Pittsburgh Post-Gazette, San Francisco Chronicle, and Bankrate. In addition to research-oriented activities, Professor Sedunov teaches courses related to the risk management of financial institutions and alternative investments. Professor Sedunov has also been recognized by Villanova University with awards for excellence in Executive Education, research, and university service.