Valuation, Textbook and Workbook: Measuring and Managing the Value of Companies / Edition 3

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The #1 guide to corporate valuation is now better than ever!

Hailed by financial professionals worldwide as the single best guide of its kind, Valuation provides crucial insights into how to measure, manage, and maximize a company's value. This long-awaited Third Edition has been updated and expanded to reflect business conditions in today's volatile global economy. In addition to all new case studies, it now includes in-depth coverage of real options and insurance companies, along with detailed instructions on how to drive value creation, and expert advice on how to manage difficult situations.

  • Describes techniques for multibusiness valuations, valuation within an international context, and valuation for restructurings and mergers and acquisitions
  • Includes a companion Web site featuring an interactive valuation-modeling application

Tom Copeland leads Monitor, Inc.'s corporate finance division. Previously, he was a partner at McKinsey & Company and a professor of finance at UCLA's Anderson School of Management. Tim Koller is a partner at McKinsey & Company specializing in restructuring, mergers and acquisitions, and corporate strategy. Jack Murrin is Senior Vice President of Travelers, Inc.

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Editorial Reviews

New York Times Book Review
THE #1 GUIDE TO CORPORATE VALUATION IS NOW BETTER THAN EVER! A 'how-to' guide for corporate executives who want to get at the unrealized shareholder values trapped in public companies.
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Product Details

  • ISBN-13: 9780471435051
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 11/28/2000
  • Edition description: BK&WRKBK
  • Edition number: 3
  • Pages: 784
  • Product dimensions: 7.00 (w) x 10.10 (h) x 2.00 (d)

Read an Excerpt

Hailed by financial professionals, professors, and students worldwide as the single best guide of its kind, Valuation provides crucial insights into how to measure, manage, and maximize a company's value. This long-awaited Third Edition has been comprehensively updated and expanded to reflect business conditions in today's volatile global economy and to provide highly effective ways for managers at every level to create value for their companies.

In addition to all new case studies, Valuation now includes in-depth coverage on valuing dot.coms, cyclical companies, and companies in emerging markets, along with detailed instructions on how to drive value creation and apply real options to corporate valuation. Here is expert guidance that management and investment professionals and students alike have come to trust, including:

  • Valuation's acclaimed chapter devoted to 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
  • Detailed, actual case studies showing how valuation techniques and principles are applied This timeless, respected book on valuation allows you to face the crossroads where corporate strategy and finance meet with more confidence and winning strategies than ever before.

Please visit us at is a premier Web site devoted to all things valuation. At this unique online community for financial professionals, you will enjoy the following features:

  • New information on valuation topics and links to key valuation sites
  • Valuation message boards and chats
  • Downloadable valuation spreadsheets
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Table of Contents


Why Value Value?

The Value Manager.

Cash Is King.

Value-Based Management.


Frameworks for Valuation.

Analyzing Historical Performance.

Forecasting Performance.

Estimating the Cost of Capital.

Estimating Continuing Value.

Calculating and Interpreting Results.


Multibusiness Valuation.

Valuing Foreign Subsidiaries.

Valuation Outside of the United States.

Mergers, Acquisitions, and Joint Ventures.

Using Option Pricing Methods to Value Flexibility.

Valuing Banks.



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