Valuation: Measuring and Managing the Value of Companies, University Edition

Cover
John Wiley and Sons, 26.07.2010 - 837 Seiten
The #1 guide to corporate valuation is back . . . and better than ever!

"The best valuation book just got better. This edition's greater emphasis on what drives value and how to measure it will improve the way practitioners conduct financial analysis and, ultimately, make strategic decisions. It is required reading for all executives."
Professor Benjamin C. Esty, Harvard Business School, author of Modern Project Finance: A Casebook

"The bible in its field. Anyone wanting to understand what drives corporate value should read this latest edition."
Dr. Raymund Breu, former chief financial officer, Novartis AG

"Valuation gets to the heart of how to measure and manage value in a company. Whether you are evaluating an acquisition, restructuring a corporation, or formulating strategy, this book will help you do it well."
John A. Manzoni, Chief Executive Officer, Talisman Energy Inc.

"A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies."
New York Times

"The book's clarity and comprehensive coverage make it one of the best practitioners' guides to valuation."
Financial Times

 

Ausgewählte Seiten

Inhalt

Why Value Value?
3
Hamilton
81
Frameworks for Valuation
103
Analyzing Performance and Competitive Position
165
Forecasting Performance
187
Estimating Continuing Value
213
Estimating the Cost of Capital
235
Moving from Enterprise Value to Value per Share
273
Creating Value through Divestitures
469
Part Five
489
Advanced Valuation Issues
541
Nonoperating Expenses OneTime Charges Reserves
559
Leases Pensions and Other Obligations
575
Capitalized Expenses
593
Inflation
605
Foreign Currency
612

Calculating and Interpreting Results
295
Using Multiples to Triangulate Results
313
CONTENTS
335
Markets Value Substance Not Form
357
Emotions and Mispricing in the Market
381
Investors and Managers in Efficient Markets
397
Part Four Managing for Value
411
Performance Management
429
Mergers and Acquisitions
445
Part
637
Valuing Flexibility
679
Valuation in Emerging Markets
713
Valuing HighGrowth Companies
741
Valuing Cyclical Companies
755
Valuing Banks
770
Free Cash Flow
799
Index
817
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Autoren-Profil (2010)

McKINSEY & COMPANY is a management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Over the past seven decades, the firm's primary objective has remained constant: to serve as an organization's most trusted external advisor on critical issues facing senior management.

TIM KOLLER is a partner in McKinsey's New York office. Tim has served clients in North America and Europe on corporate strategy and issues concerning capital markets, M&A transactions, and value-based management. He leads the firm's research activities in valuation and capital markets issues. He received his MBA from the University of Chicago.

MARC GOEDHART is an associate principal in McKinsey's Amsterdam office. Marc has served clients across Europe on portfolio restructuring, issues concerning capital markets, and M&A transactions. He received a PhD in finance from Erasmus University Rotterdam.

DAVID WESSELS is an adjunct professor of finance and director of executive education at the Wharton School of the University of Pennsylvania. Named by BusinessWeek as one of America's top business school instructors, he teaches corporate valuation at the MBA and Executive MBA levels. David received his PhD from the University of California at Los Angeles.

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