Valuation: measuring and managing the value of companies

Front Cover
The bestseller that opened the eyes of corporate America to the importance of measuring, managing, and maximizing shareholder value is now expanded and updated to help managers boost their company's value in a vastly altered business climate. In the global economy of the 1990s, investors move their money quickly and easily around the world in search of the greatest return. This expanded edition of Valuation describes the valuation process and explains the differences between valuation and accounting practices in the United States and those in other countries. It illustrates how to take advantage of the American tradition of maximizing shareholder value, demonstrates how value-based management contributes to improved strategic thinking, and shows managers at every level in any corporation how to create value for their companies. In addition, this book provides a new chapter featuring insights into the strategic advantages of value-based management; strategies for multibusiness valuation, valuation of international businesses and valuation for corporate restructuring, mergers, and acquisitions; international comparisons of the cost of capital, differences in accounting procedures, and how valuation works in different countries; and a detailed case study showing how valuation techniques and principles are applied. Truly the crossroads where corporate strategy and finance meet, this book contains the latest information on new ways to apply valuation and value-based management to maximize any company's appeal to investors and other capital sources.

From inside the book

What people are saying - Write a review

LibraryThing Review

User Review  - Docpublicis - LibraryThing

Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines is thoroughly revised and expanded to reflect business conditions in ... Read full review

LibraryThing Review

User Review  - Docpublicis - LibraryThing

Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines is thoroughly revised and expanded to reflect business conditions in ... Read full review

Contents

Why Value Value?
3
The Value Manager
30
Cash Is King
69
Copyright

15 other sections not shown

Other editions - View all

Common terms and phrases

About the author (1994)

TOM COPELAND was previously a partner and co-leader of the corporate finance practice at McKinsey & Company, Inc., and a professor of finance at UCLA's Anderson School of Management.
TIM KOLLER is a partner at McKinsey & Company, Inc., and co-leader of its corporate finance and strategy practice. He specializes in restructuring, mergers and acquisitions, and corporate strategy.
JACK MURRIN was previously a partner and co-leader of the corporate finance practice at McKinsey & Company, Inc. He has subsequently held senior executive positions at leading financial institutions.

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.

Murrin is Senior Vice President of Travelers, Inc.

Bibliographic information