Atnaujinkite slapukų nuostatas

El. knyga: Valuation: Measuring and Managing the Value of Companies

4.29/5 (1800 ratings by Goodreads)
  • Formatas: EPUB+DRM
  • Serija: Wiley Finance
  • Išleidimo metai: 31-Jul-2015
  • Leidėjas: John Wiley & Sons Inc
  • Kalba: eng
  • ISBN-13: 9781118874134
Kitos knygos pagal šią temą:
  • Formatas: EPUB+DRM
  • Serija: Wiley Finance
  • Išleidimo metai: 31-Jul-2015
  • Leidėjas: John Wiley & Sons Inc
  • Kalba: eng
  • ISBN-13: 9781118874134
Kitos knygos pagal šią temą:

DRM apribojimai

  • Kopijuoti:

    neleidžiama

  • Spausdinti:

    neleidžiama

  • El. knygos naudojimas:

    Skaitmeninių teisių valdymas (DRM)
    Leidykla pateikė šią knygą šifruota forma, o tai reiškia, kad norint ją atrakinti ir perskaityti reikia įdiegti nemokamą programinę įrangą. Norint skaityti šią el. knygą, turite susikurti Adobe ID . Daugiau informacijos  čia. El. knygą galima atsisiųsti į 6 įrenginius (vienas vartotojas su tuo pačiu Adobe ID).

    Reikalinga programinė įranga
    Norint skaityti šią el. knygą mobiliajame įrenginyje (telefone ar planšetiniame kompiuteryje), turite įdiegti šią nemokamą programėlę: PocketBook Reader (iOS / Android)

    Norint skaityti šią el. knygą asmeniniame arba „Mac“ kompiuteryje, Jums reikalinga  Adobe Digital Editions “ (tai nemokama programa, specialiai sukurta el. knygoms. Tai nėra tas pats, kas „Adobe Reader“, kurią tikriausiai jau turite savo kompiuteryje.)

    Negalite skaityti šios el. knygos naudodami „Amazon Kindle“.

McKinsey & Company's #1 best-selling guide to corporate valuation, now in its sixth edition

Valuation is the single best guide of its kind, helping financial professionals worldwide excel at measuring, managing, and maximizing shareholder and company value. This new sixth edition provides insights on the strategic advantages of value-based management, complete detailed instruction, and nuances managers should know about valuation and valuation techniques as applied to different industries, emerging markets, and other special situations. The companion website features short form content on key issues, including videos, discussion of trending topics, and real-world valuation examples from capital markets, and the included DCF model download allows you to complete computations automatically for error-free analysis and valuation of real companies. The model ensures that all important measures, such as return on investment capital and free cash flow are calculated correctly, so you can focus on the company's performance rather than computational errors.

Valuation lies at the crossroads of corporate strategy and finance. In today's economy, it has become an essential role — and one that requires excellence at all points. This guide shows you everything you need to know, and gives you the understanding you need to be effective.

  • Estimate the value of business strategies to drive better decision making
  • Understand which business units a corporate parent is best positioned to own
  • Assess major transactions, including acquisitions, divestitures, and restructurings
  • Design a capital structure that supports strategy and minimizes risk
As the valuation function becomes ever more central to long- and short-term strategy, analysts and managers need an authoritative reference to turn to for answers to challenging situations.Valuation stands ahead of the field for its reputation, quality, and prestige, putting the solutions you need right at your fingertips.
About the Authors ix
Preface xi
Acknowledgments xv
Part One Foundations of Value
1 Why Value Value?
3(14)
2 Fundamental Principles of Value Creation
17(18)
3 Conservation of Value and the Role of Risk
35(14)
4 The Alchemy of Stock Market Performance
49(16)
5 The Stock Market Is Smarter Than You Think
65(28)
6 Return on Invested Capital
93(22)
7 Growth
115(20)
Part Two Core Valuation Techniques
8 Frameworks for Valuation
135(30)
9 Reorganizing the Financial Statements
165(36)
10 Analyzing Performance
201(20)
11 Forecasting Performance
221(26)
12 Estimating Continuing Value
247(22)
13 Estimating the Cost of Capital
269(32)
14 Moving from Enterprise Value to Value per Share
301(20)
15 Analyzing the Results
321(10)
16 Using Multiples
331(22)
17 Valuation by Parts
353(20)
Part Three Advanced Valuation Techniques
18 Taxes
373(14)
19 Nonoperating Items, Provisions, and Reserves
387(18)
20 Leases and Retirement Obligations
405(18)
21 Alternative Ways to Measure Return on Capital
423(22)
22 Inflation
445(14)
23 Cross-Border Valuation
459(22)
24 Case Study: Heineken
481(44)
Part Four Managing for Value
25 Corporate Portfolio Strategy
525(18)
26 Performance Management
543(22)
27 Mergers and Acquisitions
565(28)
28 Divestitures
593(18)
29 Capital Structure, Dividends, and Share Repurchases
611(32)
30 Investor Communications
643(24)
Part Five Special Situations
31 Emerging Markets
667(24)
32 Valuing High-Growth Companies
691(14)
33 Cyclical Companies
705(8)
34 Banks
713(28)
35 Flexibility
741(34)
Appendix A Discounted Economic Profit Equals Discounted Free Cash Flow 775(6)
Appendix B Derivation of Free Cash Flow, Weighted Average Cost of Capital, and Adjusted Present Value 781(6)
Appendix C Levering and Unlevering the Cost of Equity 787(8)
Appendix D Leverage and the Price-to-Earnings Multiple 795(4)
Appendix E Other Capital Structure Issues 799(6)
Appendix F Technical Issues in Estimating the Market Risk Premium 805(4)
Index 809
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. 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 a senior expert 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.