Valuation

McKinsey & Company, Marc Goedhart, David Wessels

750 pages, parution le 10/06/2005 (4^eme édition)

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Résumé

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 today's volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization's value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This package contains a solid framework that managers at all levels, investors, and students have come to trust.

L'auteur - Marc Goedhart

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.

L'auteur - David Wessels

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.

Sommaire

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 Continuing Value
- 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

Appendix A: Economic Profit and the Key Value Driver Formula
Appendix B: Discounted Economic Profit Equals Discounted Free Cash Flow
Appendix C: Adjusted Present Value Equals Discounted Free Cash Flow
Appendix D: Levering and Unlevering the Cost of Equity
Appendix E: Leverage and the Price-Earnings Multiple

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Wiley
Auteur(s)	McKinsey & Company, Marc Goedhart, David Wessels
Parution	10/06/2005
Édition	4^eme édition
Nb. de pages	750
Format	19 x 26
Couverture	Relié
Poids	1455g
Intérieur	Noir et Blanc
EAN13	9780471702184
ISBN13	978-0-471-70218-4