Creating shareholder value The new standard for business performance

Alfred Rappaport

ISBN 10: 0029257204 / ISBN 13: 9780029257203

Published by The Free Press, NEW YORK, 1986

About this Item

INGLESE Legatura editoriale in cartonato rigido plastificato, con titolo in oro al dorso, copertina ben tenuta, preservato da sovraccoperta con alette. Ritratto fotografico dell' Autore alla aletta posteriore. Interno molto ben conservato, carte velate da tonalità brunita e perfettamente tenute, ricche di tabelle esplicative nel testo, tagli segnati da punti di ruggine. Numero pagine 270.

Seller Inventory # KEE3978

Bibliographic Details

• Title: Creating shareholder value The new standard for business performance
• Publisher: The Free Press, NEW YORK
• Publication Date: 1986
• ISBN 10: 0029257204
• ISBN 13: 9780029257203
• Binding: Hardcover
• Edition: IED.
• Condition: BUONO USATO
• Dust Jacket Condition: Dust Jacket Included
• Seller catalogs:
  • MANUALI E GUIDE

About this title

Synopsis

Increased annual sales and growth of earnings - these are the usual standards of success for the American corporation. But what does it mean if the company achieves its goals but the value of its stock declines at the same time? According to Rappaport, these companies are judging success by the wrong standards, and often become the target for takeovers. Rappaport argues that the ultimate test of corporate strategy, indeed the only reliable measure, is whether it creates economic value for shareholders.

Review

Should a company's management be most accountable to employees, customers, or management itself? In Creating Shareholder Value, Alfred Rappaport argues that management's primary responsibility is to company shareholders. First published 12 years ago, the ideas put forth by Rappaport have since become commonplace in companies around the world.

Rappaport eschews the most common measures of a company's performance, such as price-to-earnings ratios ("Cash is a fact, profit is an opinion"), return on investment, and equity measures, instead concentrating on developing a shareholder value approach that measures "value drivers" such as sales-growth rates, operating profit margins, and cost of capital. This revised and updated edition addresses the issues of corporate downsizing and the social responsibilities of business. It also includes new sections on the value of mergers and acquisitions and how to implement a shareholder value system. Both managers and investors alike will find this book useful.