Valuation : Measurinf and managing the value of companies / Tim Koller, Marc Goedhart, David WesselsPublisher: Estados Unidos : John Wiley & Sons, ©2010Edition: 5th edDescription: xvii., 811 páginas : ilustraciones, gráficos, tablas ; 26 cmContent type: texto Media type: no mediado Carrier type: volumenISBN: 9780470424650Subject(s): Administracion financiera | Compañías -- Evaluación | Empresas -- ValoraciónDDC classification: 658.15
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Enhanced descriptions from Syndetics:
The number one guide to corporate valuation is back and better than ever
Thoroughly revised and expanded to reflect business conditions in today's volatile global economy, Valuation, Fifth Edition continues the tradition of its bestselling predecessors by providing up-to-date insights and practical advice on how to create, manage, and measure the value of an organization.
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 new developments in corporate finance, changes in accounting rules, and an enhanced global perspective. Valuation, Fifth Edition is filled with expert guidance that managers at all levels, investors, and students can use to enhance their understanding of this important discipline.Contains strategies for multi-business valuation and valuation for corporate restructuring, mergers, and acquisitions Addresses how you can interpret the results of a valuation in light of a company's competitive situation Also available: a book plus CD-ROM package (978-0-470-42469-8) as well as a stand-alone CD-ROM (978-0-470-42457-7) containing an interactive valuation DCF model
Valuation, Fifth Edition stands alone in this field with its reputation of quality and consistency. If you want to hone your valuation skills today and improve them for years to come, look no further than this book.
Include appendix, contents and index. -- Appendix A. Economic profit and the key value driver formula. -- B. Discounted economic profit equals discounted free cash flow. -- C. Derivatin of free cash flow, weighted average cost of capital, and adjusted present value. -- D. Levering and unlevering the cost of equality. -- Appendix E. Leverage and the price-to-earnings multiple
Foundations of value. -- Why value values? -- Return on invested capital. -- Core Valuation techniques. -- Reorganizing the financial statements. -- Forecasting performance. -- Estimating the cost of capital. -- Using multiples to triangulate results. -- Three intrinsic value and the stock market. -- Emotions and mispricing in the market. -- Managing for value. -- Corporate portfolio strategy. -- Performance management. -- Capital structure. -- Advanced valuation issues. -- Leases, pensions, and other obligations. -- Capitalized expenses. -- Special situations. -- Valuing flexibility. -- Valuation in emerging markets. -- Valuing cyclical companies. -- Valuing banks
In this fifth edition, we continue to expand the practical application of finance to real business problems, reflecting the economic events of the past decade, new development in academic finance, and the autors' own experiences. The edition is organized in six parts, each with a district focus.
Author notes provided by SyndeticsMcKINSEY & COMPANY is a management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Over the past seven decades, the firm's primary objective has remained constant: to serve as an organization's most trusted external advisor on critical issues facing senior management.
TIM KOLLER is a partner in McKinsey's New York office. Tim has served clients in North America and Europe on corporate strategy and issues concerning capital markets, M&A transactions, and value-based management. He leads the firm's research activities in valuation and capital markets issues. He received his MBA from the University of Chicago.
MARC GOEDHART is an associate principal in McKinsey's Amsterdam office. Marc has served clients across Europe on portfolio restructuring, issues concerning capital markets, and M&A transactions. He received a PhD in finance from Erasmus University Rotterdam.
DAVID WESSELS is an adjunct professor of finance and director of executive education at the Wharton School of the University of Pennsylvania. Named by BusinessWeek as one of America's top business school instructors, he teaches corporate valuation at the MBA and Executive MBA levels. David received his PhD from the University of California at Los Angeles.