Valuation: Measuring and Managing the Value of Companies
Search in google:
Completely updated to reflect changing business conditions, this book provides crucial insights into how company values can be managed, measured and maximized. Takes readers over difficult terrain in an easy-to-follow, comprehensive and instructive manner. The highly acclaimed section on applying valuation focuses on such topics as multibusiness valuation, international business valuation, mergers and acquisitions and financial institutions. Features a detailed examination of an authentic case study which illustrates how the techniques and principles are applied. New York Times Book Review THE #1 GUIDE TO CORPORATE VALUATION IS NOW BETTER THAN EVER! A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies.
Pt. 1Foundations of value1Why maximize value?32The value manager233Fundamental principles of value creation474Do fundamentals really drive the stock market?69Pt. 2Core valuation techniques5Frameworks for valuation1016Thinking about return on invested capital and growth1337Analyzing historical performance1598Forecasting performance2299Estimating continuing value27110Estimating the cost of capital29111Calculating and interpreting results33112Using multiples for valuation361Pt. 3Making value happen13Performance measurement38314Performance management40515Creating value through mergers and acquisitions42716Creating value through divestitures45317Capital structure47518Investor communications509Pt. 4Advanced valuation issues19Valuing multibusiness companies53120Valuing flexibility54321Cross-border valuation57522Valuation in emerging markets60523Valuing high-growth companies63724Valuing cyclical companies65325Valuing financial institutions663App. AEconomic profit and the key value driver formula693App. BDiscounted economic profit equals discounted free cash flow697App. CAdjusted present value equals discounted free cash flow701App. DLevering and unlevering the cost of equity707App. ELeverage and the price-earnings multiple715
