Valuation: Measuring and Managing the Value of Companies (Frontiers in Finance Series) - Hardcover

Copeland, Tom; Koller, Tim; Murrin, Jack

Hardcover

ISBN 10: 0471009946 ISBN 13: 9780471009948

Publisher: Wiley, 1994

Synopsis

"This book on valuation represents fresh new thinking. The writing is clear and direct, combining the best academic principles with actual experience to arrive at value increasing solutions." J. Fred Weston, Cordner Professor of Money and Financial Markets, Graduate School of Management, UCLA.

"The book's clarity and comprehensive coverage make it one of the best practitioners' guides to valuation." —Financial Times

In the global economy of the 1990s, investors move their money quickly and easily around the world in search of the greatest return. As such it's essential for today's business graduates to understand the importance of measuring, managing, and maximizing shareholder value. Valuation 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 how managers at any level can create value for their companies.

In addition this book provides:

• A chapter featuring insights into the strategic advantages of value-based management.
• Strategies for multibusiness valuation, 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.
• A detailed case study showing how valuation techniques and principles are applied.

About this title

From the Inside Flap

Valuation Measuring and Managing the Value of Companies Second Edition 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
• A detailed case study showing how valuation techniques and principles are applied
• A disk featuring a sample valuation model for Lotus 1-2-3 and EXCEL

The accompanying disk provides a unique opportunity to view a company through the eyes of financial experts. The model enables managers to calculate a company’s current value based on forecast assumptions. Numerous analytical reports will help managers evaluate company performance and develop forecast assumptions. 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.

About the Author

TOM COPELAND is a partner in the New York office of McKinsey & Co., Inc., and a co-leader of the firm's corporate finance practice. He is coauthor with J. Fred Weston of Financial Theory and Corporate Policy and Managerial Finance. He received his Ph.D. in applied economics from the University of Pennsylvania.

TIM KOLLER is a partner at McKinsey & Co., Inc., and a co-leader of the firm's corporate finance practice. He was formerly a vice president at Stern Stewart & Co., and a senior financial analyst with Mobil Corporation. He received his MBA from the University of Chicago.

JACK MURRIN, a former partner and leader of the corporate finance practice at McKinsey's New York Office, is Senior Vice President, Travelers, Inc., in New York. He is a Certified Public Accountant and was previously with Arthur Andersen & Co. He received his MBA from Stanford University.

Edition details

• Publisher: Wiley
• Publication date: 1994
• ISBN 10: 0471009946
• ISBN 13: 9780471009948
• Binding: Hardcover
• Language: English
• Edition number: 2
• Number of pages: 576