At the crossroads of corporate strategy and finance lies valuation. This book enables everyone, from the budding professional to the seasoned manager, to excel. This post on best Valuation Books is to give you a heads up on valuation & a sneak peek in what those books propose and their by McKinsey & Company Inc. Valuation book. Useful Books for Investing . consulting firm, McKinsey's experts have given us tons of research & insight those would never be revealed and.
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ronaldweinland.info: Valuation: Measuring and Managing the Value of Companies McKinsey & Company's #1 best-selling guide to corporate valuation, now in its. Tim Koller (Author), Marc Goedhart (Author), David Wessels (Author) & 1 more. 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. ment, financial engineering, valuation, and financial instrument analysis, as well as .. Concurrent with this fifth edition, McKinsey is publishing a shorter book.
Brief Description Comprehensive book by a leading voice in valuation and one of the nation's top business school professors. Comprehensive book by a leading voice in valuation and one of the nation's top business school professors. Best-selling guide to corporate valuation. Comprehensive approach to standard and advanced topics. Offers vital insights on equity valuation; has a separate companion workbook for practicing key concepts.
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Tente novamente mais tarde. Compra verificada. In summary, a lot of good insights in a small read. Really worth the time. Traditional capitalist theory holds that above-costs-of-capital returns should be competed away, but the McKinsey team uses their experience and access to the extensive data at the McKinsey Global Institute to show that theory and the real world can be made to part ways. While their explanations of how to optimize value are well detailed, the reader need not be a CPA to come away with key insights.
I recommend this book to any new clients where I find a lack of symmetry between where the leadership is trying to direct the firm and where the employees are actually taking it. Of all the management books at site, this is the one Shareholders should want on the desks of employees creating value for them. Like most good management books, this one rewards the reader early with insights, and keeps them coming without the drone of a McKinsey sales pitch.
In reviewing my highlighting of this text I note that the examples are, once again, the type which almost anyone can follow.
They communicate nuance without losing the lay reader and for this reason I find the text is not only helpful for those working in a large corporate environment, but also helpful for employees building a startup business. In term of getting value for what you paid, this text is a real bargain.
Value is one of the best books I've read that cuts to the core of how businesses should operate.
It focuses the reader on the four ways that value is created and guides us through both business and market implications for companies who create value versus those that focus on the wrong things. Koller, Dobbs and Huyett cover a number of topics that any business leader or investor would find useful. The first part of the book identifies the four pillars of value and helps to answer the following questions: How does each increase value? In the second part of the book, the authors break down the stock market in aggregate.
Next, they discuss the problems with earnings management and show what a poor job "consensus earnings" do at actually forecasting the future.
Their message to managers is just don't do it.
In part three, the authors dive into value creation and discuss what drives return on capital. They break down return on invested capital by industry segment from and provide the reader with insights into why some industries perform better than others.
For investors, this segment is particularly interesting as the book explains that the ROIC advantages or disadvantages of specific industries tend to be sticky meaning we should expect those with an advantage to retain it barring any major structural shifts.
The book then explores growth, discusses why growth is difficult to sustain and reviews how different types of growth are rewarded in the market.
The book discusses the following concepts in great detail including portfolio theory The Business Portfolio ch. These sections all offer insight and pose questions that will make managers rethink how they address these topics. With portfolio theory, the authors explain how the best owner principle should drive what businesses a company operates. In risk, the reader gets help thinking through external risks and how to help manage these risks.
Chapter 15 discusses capital structures and how companies should think through their debt-to-equity mix, identify the "savings" from debt versus equity, and discuss how to return excess free cash flow to investors.
In chapter 16 the authors explore investor communications in detail and describe what types of activities are helpful versus those that do not add much value. The book closes out with a final chapter, entitled Managing for Value, that provides the "so what" of the topics discussed. It provides guidance for how managers and boards should use the four pillars of value to help guide decisions and identify the right activities to undertake to maximize value creation.
I recommend that you read this book if you want to improve your decision making as a manager or board member. You should also read this book if you want to better identify activities that should create value as an investor. This book lives at the nexus between a corporate finance textbook and a popular management book.
Our learning programs help organizations accelerate growth by unlocking their people's potential. The 6th edition of Valuation , now celebrating 25 years in print, has been thoroughly revised to reflect business conditions in today's volatile global economy. It provides insights on how to create, manage, and measure the value of an organization, including practical advice on:.
Along with new case studies that illustrate valuation techniques and principles applied in real-world situations, the 6th edition has been updated to reflect new developments in corporate finance, changes in accounting rules, and an enhanced global perspective.
Valuation is a handbook that can help managers, investors, and students understand how to foster corporate "health" and create value for the future-goals that have never been more timely.
Collectively they have more than 70 years of experience in consulting and financial education. Tim Koller is a partner in McKinsey's New York office,where he leads a global team of corporate-finance expert consultants.
He leads the firm's research activities in valuation and capital markets. He taught finance as an assistant professor at Erasmus University in Rotterdam, where he also earned a PhD in finance.