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

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

• ISBN13: 9780471436720
• ISBN10: 0471436720
• Format: eBook
• Copyright: 2004-03-01
• Publisher: Wiley

Summary

Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines is thoroughly revised and expanded to reflect business conditions in today's volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization's value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This package contains a solid framework that managers at all levels, investors, and students have come to trust.

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