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Valuation Measuring and Managing the Value of Companies

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ISBN-10: 0471702218

ISBN-13: 9780471702214

Edition: 4th 2005 (Revised)

Authors: McKinsey and Company Staff, Marc Goedhart, Tim Koller, David Wessels, Jeffrey P. Lessard

List price: $100.00
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VALUATION fourth edition UNIVERSITY EDITION The #1 guide to corporate valuation is back . . . and better than ever! "The best valuation book just got better. This edition2s 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 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 Refining and Marketing, BP plc Praise for the First Edition "A 2how-to2 guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies." -The New York Times "The book2s clarity and comprehensive coverage make it one of the best practitioners2 guides to valuation." -Financial Times
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Book details

List price: $100.00
Edition: 4th
Copyright year: 2005
Publisher: John Wiley & Sons, Incorporated
Publication date: 6/27/2005
Binding: Paperback
Pages: 768
Size: 7.00" wide x 9.75" long x 1.50" tall
Weight: 2.838
Language: English

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. With consultants deployed from over eighty offices in more than forty countries, McKinsey advises companies on strategic, operational, organizational, financial, and technological issues. The firm has extensive experience in all major industry sectors and primary functional areas, as well as in-depth expertise in high-priority areas for today's business leaders.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.Jeffrey P. Lessard, CFA, is Associate Professor of Finance and Accounting at the Rochester Institute of Technology. Dr. Lessard received his PhD in finance from the Sam M. Walton College of Business at the University of Arkansas. His primary scholarly interests are in the areas of corporate valuation, the influence of the board of directors on the creation of shareholder value, portfolio performance, and performance and presentation standards in the investment industry.

Foundations of Value
Why Maximize Value?
The Value Manager
Fundamental Principles of Value Creation
Do Fundamentals Really Drive the Stock Market?
Core Valuation Techniques
Frameworks for Valuation
Thinking about Return on Invested Capital and Growth
Analyzing Historical Performance
Forecasting Performance
Estimating the Cost of Capital
Calculating and Interpreting Results
Using Multiples for Valuation
Making Value Happen
Performance Measurement
Performance Management
Creating Value through Mergers and Acquisitions
Creating Value through Divestitures
Capital Structure
Investor Communications
Advanced Valuation Issues
Valuing Multibusiness Companies
Valuing Flexibility
Cross-Border Valuation
Valuation in Emerging Markets
Valuing High-Growth Companies
Valuing Cyclical Companies
Valuing Financial Institutions
Economic Profit and the Key Value Driver Formula
Discounted Economic Profit Equals Discounted Free Cash Flow
Adjusted Present Value Equals Discounted Free Cash Flow
Levering and Unlevering the Cost of Equity