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书籍目录

Part One: Foundations of Value   1 Why Maximize Value?   2 The Value Manager   3 Fundamental Principles of Value Creation   4 Do Fundamentals Really Drive the Stock Market? Part Two: Core Valuation Techniques   5 Frameworks for Valuation   6 Thinking about Return on Invested Capital and Growth   7 Analyzing Historical Performance   8 Forecasting Performance   9 Estimating Continuing Value   10 Estimating the Cost of Capital   11 Calculating and Interpreting Results   12 Using Multiples for Valuation Part Three: Making Value Happen   13 Performance Measurement   14 Performance Management   15 Creating Value through Mergers and Acquisitions   16 Creating Value through Divestitures   17 Capital Structure   18 Investor Communications Part Four: Advanced Valuation Issues   19 Valuing Multibusiness Companies   20 Valuing Flexibility   21 Cross-Border Valuation   22 Valuation in Emerging Markets   23 Valuing High-Growth Companies   24 Valuing Cyclical Companies   25 Valuing Financial Institutions Appendix A: Economic Profit and the Key Value Driver Formula Appendix B: Discounted Economic Profit Equals Discounted Free Cash Flow Appendix C: Adjusted Present Value Equals Discounted Free Cash Flow Appendix D: Levering and Unlevering the Cost of Equity Appendix E: Leverage and the Price-Earnings Multiple Index

作者简介

The number 1 guide to corporate valuation is back ...and better than ever! 'The best valuation book just got better. This edition's greater emphasis on what drives value and how to measure it will improve the way practitioners conduct financial analysis and, ultimately, make strategic decisions. It is required reading for all executives' - Professor Benjamin C. Esty, Harvard Business School author of "Modern Project Finance: A Casebook". 'The bible in its field. Anyone wanting to understand what drives corporate value should read this latest edition' - Dr. Raymund Breu, Chief Financial Officer, Novartis AG. '"Valuation" gets to the heart of how to measure and manage value in a company. Whether you are evaluating an acquisition, restructuring a corporation, or formulating strategy, this book will help you do it well' - John A. Manzoni, Chief Executive Refining and Marketing, BP plc. Praise for the first edition: 'A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies' - "The New York Times".  'The book's clarity and comprehensive coverage make it one of the best practitioners' guides to valuation' - "Financial Times".

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