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
Author Biography
TOM COPELAND was previously a partner and co-leader of the corporate finance practice at McKinsey & Company, Inc., and a professor of finance at UCLA’s Anderson School of Management.<BR> TIM KOLLER is a partner at McKinsey & Company, Inc., and co-leader of its corporate finance and strategy practice. He specializes in restructuring, mergers and acquisitions, and corporate strategy.<BR> JACK MURRIN was previously a partner and co-leader of the corporate finance practice at McKinsey & Company, Inc. He has subsequently held senior executive positions at leading financial institutions.
Table of Contents
Part One Company Value and the Manager's Mission |
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3 | (14) |
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17 | (30) |
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Fundamental Principles of Value Creation |
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47 | (8) |
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Metrics Mania: Surviving the Barrage of Value Metrics |
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55 | (18) |
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73 | (16) |
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89 | (22) |
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Mergers, Acquisitions, and Joint Ventures |
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111 | (20) |
Part Two Cash Flow Valuation: A Practitioner's Guide |
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131 | (26) |
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Analyzing Historical Performance |
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157 | (44) |
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Estimating the Cost of Capital |
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201 | (32) |
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233 | (34) |
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Estimating Continuing Value |
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267 | (22) |
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Calculating and Interpreting the Results |
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289 | (12) |
Part Three Applying Valuation |
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301 | (14) |
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315 | (12) |
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Valuing Cyclical Companies |
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327 | (8) |
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Valuing Foreign Subsidiaries |
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335 | (18) |
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Valuation Outside the United States |
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353 | (20) |
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Valuation in Emerging Markets |
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373 | (22) |
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Using Option Pricing Methods to Value Flexibility |
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395 | (32) |
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427 | (22) |
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Valuing Insurance Companies |
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449 | (22) |
Appendix A More on the Adjusted Present Value Model |
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471 | (8) |
Index |
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479 | |