Valuation 2nd Ed.

Measuring and Managing the Value of Companies

Tom Copeland, Tim Koller, Jack Murrin

Publisher: Wiley, 1996, 550 pages

ISBN: 0-471-08627-4

Keywords: Finance

Last modified: July 29, 2021, 9:49 p.m.

In the global economy of the 1990s, investors move their money quickly and easily around the world in search of the greatest return. As such, it's essential for today's business graduates to understand the importance of measuring, managing, and maximizing shareholder value. Valuation illustrates how to take advantage of the American tradition of maximizing shareholder value, demonstrates how value-based management contributes to improved strategic thinking, and shows how managers at any level can create value for their companies.

In addition, this book provides:

  • A chapter featuring insights into the strategic advantages of value-based management
  • Strategies for multibusiness valuation, and valuation for corporate restructuring, mergers, and acquisitions
  • International comparisons of the cost of capital, differences in accounting procedures, and how valuation works in different countries
  • A detailed case study showing how valuation techniques and principles are applied
  • Part I: Company Value and the Manager's Mission
    1. Why Value Value?
    2. The Value Manager
    3. Cash Is King
    4. Value-Based Management
  • Part II: Cash Flow Valuation: A Practitioner's Guide
    1. Frameworks for Valuation
    2. Analyzing Historical Performance
    3. Forecasting Performance
    4. Estimating the Cost of Capital
    5. Estimating Continuing Value
    6. Calculating and Interpreting Results
  • Part III: Applying Valuation
    1. Multibusiness Valuation
    2. Valuing Foreign Subsidiaries
    3. Valuation Outside the United States
    4. Mergers, Acquisitions, and Joint Ventures
    5. Using Option Pricing Methods to Value Flexibility
    6. Valuing Banks
  • Appendix A: Proof of Equivalence of Two Formulas for Estimating Continuing Value
  • Appendix B: Sources of Valuation Data



Reviewed by Roland Buresund

Very Good ******** (8 out of 10)

Last modified: May 21, 2007, 2:51 a.m.

An extremely interesting book. An easy read as well.


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