Valuation: Measuring and Managing the Value of Companies (Frontiers in Finance Series)

"This book on valuation represents fresh new thinking. The writing is clear and direct, combining the best academic principles with actual experience to arrive at value-increasing solutions." —J. Fred Weston Cordner Professor of Money and Financial Markets Graduate School of Management, UCLA

"The book's clarity and comprehensive coverage make it one of the best practitioners' guides to valuation." —Financial Times

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