Ulteriori informazioni
McKinsey's Trusted Guide to Teaching Corporate Valuation is Back and Better than Ever Designed for classroom use, Valuation, University Edition Fifth Edition is filled with the expert guidance from McKinsey & Company that students and professors have come to trust.
Sommario
Part One Foundations of Value
1 Why Value Value?
2 Fundamental Principles of Value Creation
3 Expectations Treadmill
4 Return on Invested Capital
5 Growth
Part Two Core Valuation Techniques
6 Frameworks for Valuation
7 Reorganizing the Financial Statements
8 Analyzing Performance and Competitive Position
9 Forecasting Performance
10 Estimating Continuing Value
11 Estimating the Cost of Capital
12 Moving from Enterprise Value to Value per Share
13 Evaluating and interpreting the Results
14 Using Multiples
Part Three Intrinsic Value and the Stock Market
15 Market Values Track ROIC and Growth
16 Markets Value Substance, Not Form
17 Emotions and Mispricing in the Market
18 Investors and Managers in Efficient Markets
Part Four Managing for Value
19 Corporate Portfolio Strategy
20 Performance Management
21 Mergers and Acquisitions
22 Divestitures
23 Capital Structure
24 Investor Communications
Part Five Advanced Valuation Issues
25 Taxes
26 Nonoperating Expenses, One-time Charges, Reserves and Provisions
27 Leases, Pensions and Other Obligations
28 Capitalized Expenses
29 Inflation
30 Foreign Currency
31 Case Study: Heineken
Part Six Special Situations
32 Flexibility
33 Companies in Emerging Markets
34 High-Growth Companies
35 Cyclical Companies
36 Banks
Appendix A Economic Profit Proofs
Appendix B APV Proofs
Appendix C Leverage and the Cost of Equity
Appendix D Leverage and PE Ratios Index
Index
