Value Assessment: Measuring and Managing Company Value

Author: (American) Tom Copeland et al. T.
Publisher:
Publishing Date: 2002-07-01
Features:
Author Introduction: Tom Copeland is a partner at McKinsey & Company and the leader of the firm's finance practice. He is also a professor of finance at the Anderson School at the University of California, Los Angeles. He has previously served as an associate professor at New York University. He is one of the co-authors of the classic textbooks "Financial Theory and Corporate Policy" and "Managerial Finance" and holds a Ph.D. from the University of Pennsylvania and an MBA from the Wharton School of Business. Tim Koller is a partner at McKinsey & Company. He has previously served as a vice president at Stern Stewart and holds an MBA from the University of Chicago. Jack Murrin is one of the founders of McKinsey & Company's finance practice. He has previously served as a senior executive director and leader of the business development department at Bankers Trust. He is a registered accountant and holds an MBA from the Graduate School of Business at Stanford University.
Table of Contents:
Part 1 Corporate Value and the Manager's Mission
Chapter 1 Why Conduct Valuation?
1.1 Increasing Importance of Shareholder Value
1.2 Better Economic Performance with a Shareholder-Centric Approach
1.3 Summary
Chapter 2 The Value Manager
2.1 Becoming a Value Manager
2.2 Summary
Chapter 3 The Fundamentals of Value Creation
3.1 Early Stage
3.2 New Businesses
3.3 Going Public
3.4 Expansion-Related Plans
3.5 Summary
Chapter 4 Overcoming Barriers to Valuation Standards
4.1 Further Exploration of the Framework
4.2 Market Performance: The Expectations Treadmill
4.3 Intrinsic Discounted Cash Flow-Driven Market Value
4.4 Beyond Cash Flow: Growth Rate and Return on Invested Capital
4.5 Value Drivers: Leading Indicators
4.6 Summary
Chapter 5 Cash Is King
5.1 The Link Between Total Shareholder Return and Expectation Changes
5.2 Value Level and the Relationship Between Return on Invested Capital/Growth Rate
5.3 The Market Can See Through Manipulated Earnings
5.4 The Market Focuses on Long-Term Earnings
5.5 Implications for Company Managers of Market Inefficiency
5.6 Summary
Chapter 6 Creating Value
6.1 Set Ambitious Goals
6.2 Manage the Company's Business Portfolio
Part 2 Cash Flow Valuation: A Practitioner's Guide
Part 3 Applications of Valuation
Appendix A Further Exploration of the Adjusted Present Value Model