Managing For Shareholder Value

Author : Andrew Black,John Davies,Philip D. Wright
Publisher : Financial Times/Prentice Hall
Page : 396 pages
File Size : 41,6 Mb
Release : 2001
Category : Business & Economics
ISBN : NWU:35556033024779

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In Search of Shareholder Value by Andrew Black,John Davies,Philip D. Wright Pdf

Shareholder value can no longer be seen as the latest craze in the corporate classroom. It's grown up. It's redefining the syllabus by which we learn to profit or perish. It has moved into the mainstream of global corporate life where would-be winners can no longer afford to ignore it.Drawing on the experience of PricewaterhouseCoopers' worldwide network of companies and clients, this new edition of a best-selling title will provide you with the key to unlocking the secrets to real wealth creation. The impact of the information revolution, the integration of capital markets, and the increased ability of investors to compare and contrast corporate performance has put shareholder value high on the corporate agenda. These days, investors injecting money into your company are looking for a financial return as good as, if not better than, if they had invested in any other. Today's businesses need to maximize value for their shareholders or watch their share price plummet as investors vote with their feet and transfer their money and their trust into competitors' hands.Benefits In Search of Shareholder Value explains the concept of shareholder value and shows how it can help companies and their managers make better, more informed, and proactive decisions. It looks at the philosophy of value creation and at the global financial environment in which value-based management can thrive, and it transforms the insights of market analysts into management tools that can be used throughout the company to add genuine improvements to performance. The book covers every aspect of learning how to deliver value to your investors, including: introducing the basic concepts of shareholder value analyzing the theory and history behind shareholder value establishing the true cost of your capital the market's preference for judging performance on cash flow rather than profit and loss how shareholder value is being applied within emerging economies. principels of value-based management

Author : Wenner
Publisher : Unknown
Page : 128 pages
File Size : 44,6 Mb
Release : 1989
Category : Electronic
ISBN : 0000896152

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Managing for Shareholder Value by Wenner Pdf

Author : James M. Mctaggart,Peter W. Kontes,Michael C. Mankins
Publisher : Unknown
Page : 392 pages
File Size : 50,7 Mb
Release : 1994-03-28
Category : Business & Economics
ISBN : UOM:39076001491740

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Value Imperative by James M. Mctaggart,Peter W. Kontes,Michael C. Mankins Pdf

Moving beyond the strategies that managers have employed to create shareholder value, three corporate finance experts reveal their powerful framework for the systematic day-to-day management of shareholder value. They also dispel many of the "value myths" that can skew a company's strategy.

Author : Tom Copeland,Aaron Dolgoff
Publisher : John Wiley & Sons
Page : 295 pages
File Size : 40,7 Mb
Release : 2011-09-28
Category : Business & Economics
ISBN : 9781118161050

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Outperform with Expectations-Based Management by Tom Copeland,Aaron Dolgoff Pdf

CEOs and managers live and die by delivering superior performance to shareholders. This is why expectations-based management has been developed. Outperform with Expectations-Based Management (EBM) introduces a revolutionary new performance metric that links performance standards, performance measurement, and the achievement of performance. It's easy to say that if a CEO can get performance measurement right, then performance improvement will follow. But what is the "right" measure of performance, and how do you use it to improve performance? Authors Tom Copeland and Aaron Dolgoff answer these questions and many more, as they show you how to find the measure of performance that has the strongest link to the creation of wealth for the owners of both public and private companies. They answer the puzzle of why growth in earnings is not correlated with shareholder returns and explain the under- and over-investment traps. And they explain how clear communications to investors and managers alike improve value. The bottom line is that share prices go up when companies exceed expectations -- short-term and long-term -- of income statement and balance sheet performance and daily operating value drivers. Gain a complete understanding of EBM and discover how to do this, and much more, while staying competitive in an unforgiving business environment.

Author : Alfred Rappaport
Publisher : Simon and Schuster
Page : 224 pages
File Size : 42,6 Mb
Release : 1999-10-13
Category : Business & Economics
ISBN : 9780684844565

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Creating Shareholder Value by Alfred Rappaport Pdf

The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, Creating Shareholder Value, Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.

Author : James Atwood Knight
Publisher : McGraw-Hill Companies
Page : 307 pages
File Size : 42,9 Mb
Release : 1998
Category : Business & Economics
ISBN : 0786311339

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Value Based Management by James Atwood Knight Pdf

Value Based Management brushes aside the often-confusing amalgam of quick-fix management potions, and gives you tested tips and strategies designed to turn your company into an equity-enhancing machine. This long-awaited book describes how, once you have seen and tried the hundreds of different management theories that abound today, one goal will always remain: Enhancing Shareholder Value. Companies that focus on creating and building value become focused, goal-oriented, and successful at building the powerful business machines that are required in todayÕs give-no-quarter competitive environment. Performance measurement consultant James A. KnightÕs eye-opening book provides convincing proof that strategies designed to maximize shareholder value can benefit everyone involved. With its clear-cut diagrams, explanations, and case histories, Value Based Management demonstrates how every decision your management team makes can consistently create shareholder value. Its comprehensive benefits include a clear definition of the nature of corporate value, and how the act of enhancing it can create positive reverberations throughout the entire company; examples of companies that have successfully managed for value and how they have done it, alongside examples of companies that failed to manage for value and how you can avoid their pitfalls; and explanations of how Value Added Management creates the optimal balance between short and long term decisions, and helps your managers balance the trade offs between improved levels of profit and greater growth. Like so many journeys, the toughest step when focusing your company on Value Management is the first step. Take that first step today! Read Value Based Management, focus on the strategy and business questions it raises, then think about how its solutions can be tailored to fit your company. Once you have begun to implement Value Based Management your shareholders, along with your customers and employees, will recognize and reap the profitable benefits of a value based corporate mindset.

Author : Matt Davies
Publisher : Unknown
Page : 382 pages
File Size : 40,5 Mb
Release : 2000
Category : Corporate profits
ISBN : 185978366X

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Managing for Shareholder Value by Matt Davies Pdf

Author : RoyE. Johnson
Publisher : Elsevier
Page : 488 pages
File Size : 46,5 Mb
Release : 2001-10-23
Category : Business & Economics
ISBN : 9780080498133

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Shareholder Value - A Business Experience by RoyE. Johnson Pdf

Shareholder Value presents a powerful and useful toolkit of market-based perspectives, analytic approaches, valuation techniques, and specific financial metrics for use in everyday business life. The author helps a broad spectrum of professionals understand the salient points and real world implications of a 'value management' movement which has taken hold in many corporations in the United States and around the world. This movement is being supported by some of the major institutional investors who influence financial markets. The main goal of 'Shareholder Value' is to help working professionals grasp the concept of value 'creators' and 'destroyers', along with the implications. He also provides tools to measure the success (or failure) of major strategic and operational initiatives and enables corporate managers to understand how shareholder value is created, and then directs behaviour toward 'value-based' planning and action. Although mainly aimed at the professional market, 'Shareholder Value' will also be of use to students of business and finance as it is intended to provide a comprehensive foundation for important elements of business strategy and acquisition valuation, corporate financial analysis, capital investments, corporate financing and economic value based metrics. AUTHOR'S REVIEW: When developing this book, I strived to achieve the following: Provide the finance professional and student of finance with a comprehensive template of shareholder value concepts and techniques - geared toward use in a corporate setting Give the non-financial professional an understanding of the underpinnings and behavioural aspects of economic value management Outline and provide details of an effective process for implementing a value-based financial performance system within a corporation ...And, combine learning with enjoyable reading by presenting technical material through a story. The "story" and "characters" are unique features of Shareholder Value - A Business Experience. The reader can get an appreciation of the environment surrounding value-based management, along with challenges that arise when transitioning from traditional "accounting" performance (where earnings and earnings per share reign supreme) to "economic" performance (where cash flow and return on investment are emphasized). Characters occupying operating and staff roles have been created to represent people that those working inside companies (large, medium and small) may encounter and, also, to invoke some humour. Insights into how to function in different corporate roles can be gained by following the characters through the story. Presents a combination of analysis and case study in which a strong technical treatment is blended with a fictional case study to offer clarity and explanation A practical and effective implementation process for a comprehensive financial performance system Offers a perspective of the role of different corporate and business unit functions in the implementation of value-based financial performance within a company

Author : Roger A. Morin,Sherry L. Jarrell
Publisher : McGraw Hill Professional
Page : 424 pages
File Size : 54,6 Mb
Release : 2000-12-27
Category : Business & Economics
ISBN : 007137986X

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Driving Shareholder Value: Value-Building Techniques for Creating Shareholder Wealth by Roger A. Morin,Sherry L. Jarrell Pdf

BusinessWeek and Harvard Business Review tout value-based management as the benchmark for creating and enhancing shareholder value. Numerous industry-leading companies embrace VBM. Now Driving Shareholder Value travels to the heart of VBM, providing approaches, perspectives, and strategies managers can use to implement VBM for better decisions and maximized shareholder wealth. The authors’ one-of-a-kind value creation framework—complete with dozens of useful worksheets, checklists, case studies, and more—draws on current practices plus 25 years of VBM lessons, including: *The four guiding principles of VBM activities *Five steps to institutionalizing VBM *An integrative VBM framework—complete with step-by-step examples

Author : P. M. Vasudev
Publisher : Edward Elgar Publishing
Page : 432 pages
File Size : 41,8 Mb
Release : 2021-05-28
Category : Law
ISBN : 9781800375772

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Beyond Shareholder Value by P. M. Vasudev Pdf

This timely and engaging book examines how maximizing shareholder value has played a dominant role in corporate governance over recent decades, and analyzes the resulting effect on share prices in the stock markets. Alongside the rise in corporate power and deepening economic inequality, the author investigates corporate law reform as a corrective remedy.

Author : Alfred Rappaport
Publisher : Unknown
Page : 304 pages
File Size : 41,9 Mb
Release : 1986
Category : Business & Economics
ISBN : UOM:49015001174987

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Creating Shareholder Value by Alfred Rappaport Pdf

Begins with dramatic proof of the shortcomings of accounting numbers as earnings per share, return on investment, and return on equity, and explains to develop value-creating business strategies and how to ...

Author : Geoffrey A. Moore
Publisher : HarperBusiness
Page : 304 pages
File Size : 41,5 Mb
Release : 2002-08-20
Category : Business & Economics
ISBN : 0060086769

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Living on the Fault Line, Revised Edition by Geoffrey A. Moore Pdf

The fault line -- that dangerous, unstable seam in the economy where powerful innovations and savage competition meet and create market-shattering tremors. Every company lives on it; no manager can control it. In the original edition of Living on the Fault Line, Geoffrey Moore presented a compelling argument for using shareholder value (or share price) as the key driver in management decisions. Moore now revisits his argument in the post-Internet bubble world, proving that the methods he espouses are more germane than ever and showing companies how to use them to survive and thrive in today's demanding economy. Extending the themes of Crossing the Chasm and Inside the Tornado, his first two books on the dynamics of the high-tech markets, Moore shows why sensitivity to stock price is the single most important lever for managing in the future, both as a leading indicator of shifts in competitive advantage and as an employee motivator for making necessary changes in organizations heretofore impervious to change. This revised and updated edition includes: A deeper emphasis on core versus context, which has emerged as the key distinction in allocating resources to improve shareholder value A new Competitive Advantage Grid that will aid managers in achieving and sustaining competitive advantage, the most important component in managing for shareholder value An expanded Value Discipline Model as it relates to the Competitive Advantage Grid Analysis of the powerful new trend toward core/context analysis and outsourcing production duties Updated models of organizational change for each stage of market development As disruptive forces continue to buffet the marketplace and rattle the staid practices of the past, Moore offers a brilliant set of navigational tools to help meet today's most compelling management challenges.

Author : Roderick Martin,Peter D. Casson,Tahir M. Nisar
Publisher : OUP Oxford
Page : 238 pages
File Size : 43,6 Mb
Release : 2007-07-05
Category : Business & Economics
ISBN : 9780191607059

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Investor Engagement by Roderick Martin,Peter D. Casson,Tahir M. Nisar Pdf

The growth of shareholder value has been a major change in Western economies since the 1980s. This growth has reignited debates concerning relations between investors and managers. This book argues that investors are more than passive providers of finance, on whose behalf managers seek to maximize shareholder returns. Instead, many investors directly influence management practice, through investor engagement. The book examines the role of institutional investors and private equity firms, two types of investors with overlapping but different reasons for engagement. Questions addressed include: What are the incentives, and disincentives, for investment engagement? How is investor engagement organized? What areas of management practice are of particular concern to investors? The discussion shows in detail how private equity firms play a major role in developing new companies, beyond the provision of finance, especially in the IT, biotechnology, and pharmaceutical sectors. The discussion is primarily based on British and US research. The debate has wider international relevance, because there are strong pressures for establishing shareholder value as the international 'norm' for systems of corporate governance. Following a detailed discussion of Germany, the authors conclude that there is no inevitable trend to shareholder value: shareholder value depends upon complementary institutional arrangements in national business systems, which are far from universal. The book concludes with a critical analysis of the justifications for shareholder value and investor engagement, highlighting the weaknesses of both efficiency and equity justifications.

Author : Society of Management Accountants of Canada
Publisher : Mississauga, ON : CMA Canada
Page : 31 pages
File Size : 52,5 Mb
Release : 1999
Category : Corporate profits
ISBN : 1553021886

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Measuring and Managing Shareholder Value Creation by Society of Management Accountants of Canada Pdf

Author : Allan A. Kennedy
Publisher : Basic Books
Page : 256 pages
File Size : 55,5 Mb
Release : 2008-01-04
Category : Business & Economics
ISBN : 9780465011698

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The End Of Shareholder Value by Allan A. Kennedy Pdf

In The End of Shareholder Value , Allan Kennedy shines the spotlight on a new revolution in business-as customers, employees, political and social leaders, and governing boards begin to challenge the cozy relationship between executives and investors that has crippled companies in the name of maximizing shareholder value. Analyzing both historical and current material, he explores the colorful history of corporations since the turn of the century, evolving from engines of innovation to machines driven by short-term financial gains. From GE to the hottest new Web-based start-up, those companies that subscribe to the shareholder value ethic cannot be sustained and will, inevitably, be replaced by those who figure out how to create and share wealth with all their important constituencies. Provocative and wide-ranging, The End of Shareholder Value showcases progressive experiments in the public and private sectors, outlines new roles and responsibilities for all participants, and challenges everyone to rethink the purpose of business in the new millennium.