Outperform with Expectations-Based Management

A State-of-the-Art Approach to Creating and Enhancing Shareholder Value

Tom Copeland, Aaron Dolgoff

358 pages, parution le 09/11/2005

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Résumé

CEOs and managers live and die by delivering superior performance to shareholders. This is why expectations-based management has been developed. Outperform with Expectations-Based Management (EBM) introduces a revolutionary new performance metric that links performance standards, performance measurement, and the achievement of performance.

It's easy to say that if a CEO can get performance measurement right, then performance improvement will follow. But what is the "right" measure of performance, and how do you use it to improve performance? Authors Tom Copeland and Aaron Dolgoff answer these questions and many more, as they show you how to find the measure of performance that has the strongest link to the creation of wealth for the owners of both public and private companies. They answer the puzzle of why growth in earnings is not correlated with shareholder returns and explain the under- and over-investment traps. And they explain how clear communications to investors and managers alike improve value.

The bottom line is that share prices go up when companies exceed expectations -- short-term and long-term -- of income statement and balance sheet performance and daily operating value drivers. Gain a complete understanding of EBM and discover how to do this, and much more, while staying competitive in an unforgiving business environment.

L'auteur - Tom Copeland

Tom Copeland is a Professor of Finance at UCLA's Anderson School of Management.

L'auteur - Aaron Dolgoff

Aaron Dolgoff is an Associate Principal in the Finance practice of CRA International. He works on litigation and business-consulting matters requiring specialized finance expertise. Dolgoff's experience spans a range of industries, including pharmaceuticals, agribusiness, truck manufacturing, office supplies, healthcare services, and consumer goods. He received a BS in economics from the Wharton School and an MA in international relations and economics from The Johns Hopkins University.

Sommaire

Measuring Performance
- The Right Objective, Strategy, and Metric
- Expectations Count: The Evidence
Managerial Implications
- Management of Existing Businesses
- New Investment and Business Mix Decisions
- What About the WACC?
- Capital Efficiency
- Reverse Engineer the Value of Your Firm
- Investor Relations
- Incentive Design
- Implementing an EBM System
Other Points of View
- Investor Relations: Understanding the Investor's Perspective
- Comparison of Value-Based Management Systems
- Expectations, Noise, and Public Policy
- Summary and Conclusions

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Wiley
Auteur(s)	Tom Copeland, Aaron Dolgoff
Parution	09/11/2005
Nb. de pages	358
Format	16 x 24
Couverture	Relié
Poids	590g
Intérieur	Noir et Blanc
EAN13	9780471738756
ISBN13	978-0-471-73875-6