Research On Equity Pricing Of Non-listed City Commercial Banks

Since2010, there have successively been equity transfer projects of many unlisted city commercial banks appearing at property right market, which has been the main platform for equity transfer of city commercial banks. What’s in common is that most of the transaction values stay low. And this raised our thoughts about the equity transaction and equity pricing of city commercial banks. This paper, based on the current situation of our country, discusses the issues about the equity pricing of city commercial banks in our country.This thesis summarizes the emergence and development of the theories of values for the enterprises both at home and abroad. The method of assessment and evaluation for the value of enterprises is analyzed. The author introduces the issuing of new shares of the listed companies in China, the state-owned equity pricing and transfer of property rights, and foreign strategic investment capital’s inflow into the commercial banks of China. Then, the real situations for equity pricing of the private city commercial banks are analyzed. The problems and phenomenon that should attract the attention of people are listed. The author also points out the unreasonable aspects in the equity pricing of the private city commercial banks. As for the improvement of the private city commercial banks, more marketized measures should be taken to redesign the equity pricing mechanism from internal control and the external environment. Finally, AB bank is taken as a case. Three equity evaluation methods are adopted to analyze the pricing of AB’s equity. The feasibility of each method is analyzed and discussed. The optimum is chosen and through the effective operation of each mechanism, the equity pricing will be able to reflect the real value of the banks.This paper aims at doing some useful explorations for promoting the reform and development of our country’s city commercial banks. The deficiency is that it is difficult to get data for city commercial banks need not open their report forms. As time goes on, and with the increase of equity transfer samples of city commercial banks, the depth and breadth of future studies will be improved greatly.