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| List of Illustrations | |
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| Preface | |
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| Shareholder Value And Corporate Purpose | |
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| Management Versus Shareholder Objectives | |
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| Shareholders and Stakeholders | |
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| Shareholders Are "Us" | |
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| Shortcomings Of Accounting Numbers | |
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| Earnings-An Unreliable Bottom Line | |
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| The Trouble with Accounting Return on Investment (ROI) | |
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| ROI Versus DCF Return Illustrated | |
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| Additional Shortcomings of ROI | |
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| Shortcomings of Return on Equity (ROE) | |
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| Shareholder Value Approach | |
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| Estimating Shareholder Value | |
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| Estimating Shareholder Value Added (SVA) | |
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| Threshold Margin | |
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| The Shareholder Value Network | |
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| Appendix: Conventional Versus Shareholder Value Break-Even Analysis | |
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| Formulating Strategies | |
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| Strategy Formulation Process | |
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| Competitive Advantage and Shareholder Value | |
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| Strategy "Best Sellers" | |
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| Valuing Strategies | |
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| Strategy Valuation Process | |
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| Valuing Alternative Business Opportunities | |
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| Valuing Interdivisional Synergies | |
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| Choosing Optimal Investment Level for a New Business | |
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| Do Stock Repurchases Create Value? | |
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| Value-Creation Questions | |
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| Stock Market Signals To Management | |
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| Reading the Market | |
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| Corporate Versus Shareholder Rate of Return | |
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| Management Implications | |
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| Performance Evaluation And Executive Compensation | |
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| CEOs and Other Corporate-Level Executives | |
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| Operating Managers | |
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| Performance Evaluation Alternatives-Shareholder Value Added (SVA) | |
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| Performance Evaluation Alternatives-Residual Income | |
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| Performance Evaluation Alternatives-Economic Value Added (EVA) | |
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| Performance Evaluation Alternatives-Change in Residual Income or Change in EVA | |
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| Leading Indicators of Value | |
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| Target Level of Performance | |
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| Linking Rewards to Superior Performance | |
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| Mergers And Acquisitions | |
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| The Acquisition Process | |
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| Value Creation Framework | |
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| Do Mergers Create Value for the Acquiring Company? | |
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| Gillette's Acquisition of Duracell International | |
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| Premium Advice for Targets | |
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| Implementing Shareholder Value | |
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| Implementation Objectives | |
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| Gaining Commitment | |
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| Introducing Shareholder Value | |
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| Reinforcing Shareholder Value | |
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| The Shareholder Scoreboard | |
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| A Rising Tide Doesn't Lift All Stocks | |
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| Investing as a Game of Expectations | |
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| Notes | |
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| Index | |
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| About the Author | |