The ValueReporting Revolution: Moving Beyond the Earnings Game - Hardcover

Robert G. Eccles; Robert H. Herz; E. Mary Keegan; David M. H. Phillips

Hardcover

ISBN 10: 0471398799 ISBN 13: 9780471398790

Publisher: John Wiley & Sons Inc, 2001

Synopsis

Provides a comprehensive framework for achieving higher levels of corporate information disclosure and transparency
In order to decide whether or not a company is a good investment, analysts and investment professionals need to know as much as possible about the company's tangible and intangible assets, as well as a variety of critical performance measures. Written by an international team of experts, The Value Reporting Revolution clearly explains why corporations must move toward greater transparency and, more importantly, it provides a comprehensive framework for achieving that goal. Among other important lessons, readers learn how to identify the gaps between how corporate managers perceive their disclosure practices versus how the markets see them, as well as how to leverage their organizations' electronic communications technology and tools to ensure easy access to vital information and more meaningful data analysis.
Robert Eccles (Jupiter, FL) is President of Advisory Capital Partners, Inc. Robert H. Herz (New York, NY) is a Partner at PricewaterhouseCoopers, US. David Phillips (London, UK) is a Partner at PricewaterhouseCoopers, UK. Mary M. Keegan (London, UK) is head of Global Corporate Reporting at PricewaterhouseCoopers, UK.

About this title

About the Author

ROBERT G. ECCELES
Dr. Eccles is a founder and President of Advisory Capital Partners, Inc. and a Senior Fellow of PricewaterhouseCoopers. He was a tenured professor at the Harvard Business School, where he served on the faculty for 14 years. While there, one of his major research interests was performance measurement and reporting. Dr. Eccles received his undergraduate degrees from the Massachusetts Institute of Technology and his Ph.D. from Harvard University.
ROBERT H. HERZ
A partner with PricewaterhouseCoopers, Robert Herz is the firm's North America Leader of Professional, Technical, Risk, and Quality. His professional service includes positions on the FASB's Emerging Issues and Financial Instruments Task Forces, the Financial Accounting Standards Committee of the American Accounting Association, and chair of the SEC Regulations Committee of the AICPA. He is a U.S. Certified Public Accountant and a U.K. Chartered Accountant.
E. MARY KEEGAN
Mary Keegan coauthored this book as Head of the Global Corporate Reporting Group of PricewaterhouseCoopers, where she specialized in international corporate governance and reporting. She has also served as Vice President of the F?d?ration des Experts Comptables Europ?ens and as a member of the IASC's Standing Interpretations Committee. She is now the Chairman of the U.K. Accounting Standards Board.
DAVID M. H. PHILLIPS
David Phillips is a partner with PricewaterhouseCoopers in the Assurance/Business Advisory Services practice in the United Kingdom and serves as the European Leader of ValueReporting. He is a graduate of Nottingham University, where he read Industrial Economics, and is a U.K. CharteredAccountant.

From the Back Cover

ADVANCE PRAISE FOR THE VALUEREPORTING REVOLUTION

"Those of us with responsibility for reporting corporate performance in its broadest sense must look beyond the rules and regulations to ensure we effectively communicate the most useful information. This excellent book raises many issues and challenges and offers a range of solutions for improving how and what we report."-John D. Coombe Finance Director, GlaxoWellcome plc

"With greater corporate transparency-the rallying cry of ValueReporting-investors, both institutional and individual, can gain a much deeper under-standing of how companies create and realize value. This is precisely the kind of information they are aggressively seeking to optimize their long-term investment decisions."-Harold D. Kahn Financial Officer, Scudder Kemper Investments

"While it may take a while to get to a better system of corporate reporting, this book leaves few doubts that the journey will be worthwhile for both companies and the capital markets as a whole."-Steven M. H. Wallman Commissioner, Securities and Exchange Commission (1994-1997) Founder and CEO, FOLIOfn, an innovative online financial services company

From the Inside Flap

The ValueReportingTM Revolution: Moving Beyond the Earnings Game

The ValueReporting Revolution is a rallying cry for radical improvements in corporate reporting-a call to be heeded not just by executives who report on corporate performance and the investors who listen to what they say but also by governing boards, accounting firms, securities analysts, and regulators worldwide.

This revolution is about information. To make sound, long-term investment decisions, large institutional investors and astute individuals alike want to know more about what companies actually do to create value. They especially need information about market dynamics, corporate strategy, and nonfinancial value drivers that are leading indicators of a company's future financial performance and stock price.

Yet too many companies today find themselves locked in The Earnings Game. It's a never-ending and highly dysfunctional game focused myopically on short-term earnings, which in reality say very little about future stock price performance. The consequences of the game? Excessive stock price volatility, inaccurate valuations, and over-reliance on market gossip.

Nothing short of a ValueReporting Revolution will end this game and rid the markets of the crippling consequences. This book delivers a trenchant and often biting analysis of the severe problems that plague today's capital markets. More important, it articulates an array of practical, though controversial, solutions.

ValueReporting calls on corporate executives to provide more, rather than less, of the kind of information they use to create value. It exhorts investors to demand that companies do this. It urges boards of directors to make sure it gets done. And it puts accounting firms and securities analysts on notice that they must become part of the solution rather than part of the problem.

Often provocative and never hesitant to tell it like it is, The ValueReporting Revolution speaks with authority and clarity. It sounds its compelling call to arms to anyone with an interest in dramatically improving the markets on which so many depend.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 2001
• Language: English
• ISBN 10: 0471398799
• ISBN 13: 9780471398790
• Binding: Hardcover
• Edition number: 1
• Number of pages: 384