Valuation: Measuring and Managing the Value of Companies, University Edition, 3rd Edition

by McKinsey & Company, Inc.; Tom Copeland; Tim Koller; Jack Murrin

• ISBN13: 9780471361916
• ISBN10: 0471361917
• Edition: 3rd
• Format: Paperback
• Copyright: 2000-01-01
• Publisher: Wiley

Summary

Completely Updated, Over 200,000 Copies Sold! "A 2how-to2 guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies." -New York Times THE #1 guide TO CORPORATE VALUATION IS NOW BETTER THAN EVER! "The book2s clarity and comprehensive coverage make it one ofthe best practitioners2 guides to valuation." -Financial Times "Should serve very well the professional manager who wants to do some serious thinking about what really does contribute value to his or her firm and why." -The Journal of Finance "Valuation is like a Swiss army knife . . . you will be prepared for just about any contingency." -Martin H. Dubilier, Chairman of the Board, Clayton & Dubilier, Inc. "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 System Requirements: Pentium II PC or greater Windows 98 or later 128MB RAM 20MB Hard Disk Space Excel 97 / 2000 (Alone or part of Office 97 / 2000) w/Report Manager & Analysis ToolPak installed and enabled. (Note: Formulas & Computations are not guaranteed in later versions of Excel) Video Display: 800 x 600 recommended

Table of Contents

Part One Company Value and the Manager's Mission
Why Value Value?	3	(14)
The Value Manager	17	(30)
Fundamental Principles of Value Creation	47	(8)
Metrics Mania: Surviving the Barrage of Value Metrics	55	(18)
Cash Is King	73	(16)
Making Value Happen	89	(22)
Mergers, Acquisitions, and Joint Ventures	111	(20)
Part Two Cash Flow Valuation: A Practitioner's Guide
Frameworks for Valuation	131	(26)
Analyzing Historical Performance	157	(44)
Estimating the Cost of Capital	201	(32)
Forecasting Performance	233	(34)
Estimating Continuing Value	267	(22)
Calculating and Interpreting the Results	289	(12)
Part Three Applying Valuation
Multibusiness Valuation	301	(14)
Valuing Dot.coms	315	(12)
Valuing Cyclical Companies	327	(8)
Valuing Foreign Subsidiaries	335	(18)
Valuation Outside the United States	353	(20)
Valuation in Emerging Markets	373	(22)
Using Option Pricing Methods to Value Flexibility	395	(32)
Valuing Banks	427	(22)
Valuing Insurance Companies	449	(22)
Appendix A More on the Adjusted Present Value Model	471	(8)
Index	479