Valuation, + Download: Measuring and Managing the Value of Companies

Valuation, + Download: Measuring and Managing the Value of Companies

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by McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels
     
 

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Corporate finance is simpler and more intuitive than most people think. Yet, executives frequently make decisions that defy the core principles and their own intuition. They subscribe to the common wisdom of "The Street" instead of simple, common financial sense.

McKinsey's Valuation: Measuring and Managing the Value of Companies, Fifth Edition, with its

Overview

Corporate finance is simpler and more intuitive than most people think. Yet, executives frequently make decisions that defy the core principles and their own intuition. They subscribe to the common wisdom of "The Street" instead of simple, common financial sense.

McKinsey's Valuation: Measuring and Managing the Value of Companies, Fifth Edition, with its companion DCF Model Download, provides the knowledge executives need to make value-creating decisions—replacing some of the myths that pervade the corporate world with proven principles of value creation.

Thoroughly revised and expanded to reflect business conditions in today's volatile global economy, Valuation + DCF Model Download, Fifth Edition provides up-to-date insights and practical advice on how to create, manage, and measure the value of an organization. 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 the events of the real estate bubble and its effect on stock markets, new developments in corporate finance, changes in accounting rules, and an enhanced global perspective.

Valuation + DCF Model Download, Fifth Edition is filled with expert guidance that managers at all levels, investors, and students have come to trust. It contains a solid framework for valuation:

  • Analyzing historical performance, including reorganizing a company's financial statements to reflect economic rather than accounting performance

  • Forecasting performance, with emphasis on not just the mechanics of forecasting but also how to think about a company's future economics

  • Estimating the cost of capital with practical tips that aren't found in textbooks

  • Interpreting the results of a valuation in light of a company's competitive situation

  • Linking a company's valuation multiples to the core drivers of its performance

Hailed by financial professionals worldwide as the single best guide of its kind, Valuation + DCF Model Download, Fifth Edition remains true to its roots, with an extensive discussion on the complexity of measuring corporate performance to assess historical financial results properly and to gain insight into a company's ability to create value in the future (its corporate "health").

At the crossroads of corporate strategy and finance lies valuation. Filled with expert guidance as well as a valuation model developed by McKinsey's own finance practice—which can be accessed through the DCF Model Download—this reliable resource enables everyone from the budding professional to the seasoned manager to excel at measuring, managing, and maximizing shareholder and company value. By combining the dynamic flexibility of a DCF Model Download with the depth and breadth of a classic text, this package will help you hone your valuation skills today and improve them for years to come.

Product Details

ISBN-13:
9780470424698
Publisher:
Wiley
Publication date:
07/26/2010
Series:
Wiley Finance Series, #498
Pages:
840
Product dimensions:
7.50(w) x 10.00(h) x 1.80(d)

Meet the Author

McKINSEY & COMPANY is a management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Over the past seven decades, the firm's primary objective has remained constant: to serve as an organization's most trusted external advisor on critical issues facing senior management.

TIM KOLLER is a partner in McKinsey's New York office. Tim has served clients in North America and Europe on corporate strategy and issues concerning capital markets, M&A transactions, and value-based management. He leads the firm's research activities in valuation and capital markets issues. He received his MBA from the University of Chicago.

MARC GOEDHART is an associate principal in McKinsey's Amsterdam office. Marc has served clients across Europe on portfolio restructuring, issues concerning capital markets, and M&A transactions. He received a PhD in finance from Erasmus University Rotterdam.

DAVID WESSELS is an adjunct professor of finance and director of executive education at the Wharton School of the University of Pennsylvania. Named by BusinessWeek as one of America's top business school instructors, he teaches corporate valuation at the MBA and Executive MBA levels. David received his PhD from the University of California at Los Angeles.

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