Creating Shareholder Value

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Publisher : Simon and Schuster
ISBN 13 : 0684844567
Total Pages : 225 pages
Book Rating : 4.6/5 (848 download)

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Book Synopsis Creating Shareholder Value by : Alfred Rappaport

Download or read book Creating Shareholder Value written by Alfred Rappaport and published by Simon and Schuster. This book was released on 1999-10-13 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist, consultant, and Wall Street Journal contributor Alfred Rappaport provides managers and investors with the practical tools and tests for a corporate strategy that creates shareholder value. The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? Through the lens of high-stakes case studies, like the notable acquisition of Duracell International by Gillette, Rappaport dissects the intricate decisions and risks inherent in the merger and acquisition process. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.

Value Imperative

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Publisher :
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis Value Imperative by : James M. Mctaggart

Download or read book Value Imperative written by James M. Mctaggart and published by . This book was released on 1994-03-28 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moving beyond the strategies that managers have employed to create shareholder value, three corporate finance experts reveal their powerful framework for the systematic day-to-day management of shareholder value. They also dispel many of the "value myths" that can skew a company's strategy.

The Profit Paradox

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Publisher : Princeton University Press
ISBN 13 : 0691224293
Total Pages : 352 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Profit Paradox by : Jan Eeckhout

Download or read book The Profit Paradox written by Jan Eeckhout and published by Princeton University Press. This book was released on 2022-10-25 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: A pioneering account of the surging global tide of market power—and how it stifles workers around the world In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil. The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility. A provocative investigation into how market power hurts average working people, The Profit Paradox also offers concrete solutions for fixing the problem and restoring a healthy economy.

The Effects of Competition

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Publisher : MIT Press
ISBN 13 : 9780262264655
Total Pages : 558 pages
Book Rating : 4.2/5 (646 download)

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Book Synopsis The Effects of Competition by : George Symeonidis

Download or read book The Effects of Competition written by George Symeonidis and published by MIT Press. This book was released on 2002-01-18 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical study of the effects of competition across a broad range of industries. Policies to promote competition are high on the political agenda worldwide. But in a constantly changing marketplace, the effects of more intense competition on firm conduct, market structure, and industry performance are often hard to distinguish. This study combines game-theoretic models with empirical evidence from a "natural experiment" of policy reform. The introduction in the United Kingdom of the 1956 Restrictive Trade Practices Act led to the registration and subsequent abolition of explicit restrictive agreements between firms and the intensification of price competition across a range of manufacturing industries. An equally large number of industries were not affected by the legislation. Using data from before and after the 1956 act, this book compares the two groups of industries to determine the effect of price competition on concentration, firm and plant numbers, profitability, advertising intensity, and innovation. The book avoids two problems common to empirical studies of competition: how to measure the intensity of competition and how to unravel the links between competition and other variables. Because the change in the intensity of competition had an external cause, there is no need to measure the intensity of competition directly, and it is possible to identify one-way causal effects when estimating the impact of competition. The book also examines issues such as the industries in which collusion is more likely to occur; the effect of cartels and cartel laws on market structure and profitability; the links between competition, advertising, and innovation; and the constraints on the exercise of merger and antitrust policies.

The Value Killers

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Publisher : Springer
ISBN 13 : 3030122166
Total Pages : 102 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis The Value Killers by : Nuno Fernandes

Download or read book The Value Killers written by Nuno Fernandes and published by Springer. This book was released on 2019-06-25 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a business climate marked by escalating global competition and industry disruption, successful mergers and acquisitions are increasingly vital to the growth and profitability of many corporations. If history is any guide, 60 to 70 per cent of new mergers will fail – and will destroy shareholder value. To date, analyses of the M&A failure rate tend to focus on individual causes – e.g., culture clashes, valuation methods, or CEO overconfidence – rather than examining the problem holistically. The Value Killers is the first book based on a holistic analysis of successful and unsuccessful transactions. Based on research, interviews with top executives, and case studies, this book identifies the key causes of failures and successes and offers prescriptions to increase the odds that future transactions will deliver all the anticipated synergies. The Value Killers offers practical advice in the form of 5 Golden Rules. These rules will help managers and boards to ensure that target companies are properly valued; potential synergies and risks are identified in advance; checks and balances are installed to make sure that the pros and cons of the transaction are rationally and objectively evaluated; mechanisms are created that will trigger termination of bad deals; and obstacles to successful post-merger integrations are assessed (and solutions developed) before the deal closes. Each chapter includes questions for executives considering future M&As to allow them to see whether they are on the right track or not.

The CEO, Strategy, and Shareholder Value

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Publisher : John Wiley & Sons
ISBN 13 : 1118119037
Total Pages : 198 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis The CEO, Strategy, and Shareholder Value by : Peter Kontes

Download or read book The CEO, Strategy, and Shareholder Value written by Peter Kontes and published by John Wiley & Sons. This book was released on 2011-09-13 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new look at delivering effective shareholder value from Peter Kontes, a true leader in the world of strategic management In The CEO, Strategy, and Shareholder Value, Peter Kontes, a true leader in the strategic management field, outlines the key to creating and growing shareholder value. The proper focus, contends Kontes, is in using quantitative measurements as guideposts on the path to success. The book first outlines the basics of the argument Kontes is making. He then briefly covers the five most important areas for business leaders, followed by a more detailed look at each of the focus areas. Finally, Kontes provides readers with a road map to implementing his suggestions. Presents an argument for a more holistic approach to delivering shareholder value Defines and then elaborates a new approach to strategic management Written by a true thought leader in the field, regularly featured in publications such as Fortune and BusinessWeek Never before have business leaders experienced the kind of tough decisions they are being forced to make as the economy undergoes incredibly rapid shifts. The common sense guide to successful leadership, The CEO, Strategy, and Shareholder Value delivers exactly the kind of solid, dynamic advice that will keep your organization moving on an upward path.

The Shareholder Value Myth

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Author :
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1605098167
Total Pages : 151 pages
Book Rating : 4.6/5 (5 download)

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Book Synopsis The Shareholder Value Myth by : Lynn Stout

Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute

Pragmatic Capitalism

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Publisher : Macmillan
ISBN 13 : 1137279311
Total Pages : 252 pages
Book Rating : 4.1/5 (372 download)

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Book Synopsis Pragmatic Capitalism by : Cullen Roche

Download or read book Pragmatic Capitalism written by Cullen Roche and published by Macmillan. This book was released on 2014-07-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful and original look at why understanding macroeconomics is essential for all investors

Finance

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Publisher : Elsevier
ISBN 13 : 9780444890849
Total Pages : 1204 pages
Book Rating : 4.8/5 (98 download)

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Book Synopsis Finance by : R.A. Jarrow

Download or read book Finance written by R.A. Jarrow and published by Elsevier. This book was released on 1995-12-15 with total page 1204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hardbound. The Handbook of Finance is a primary reference work for financial economics and financial modeling students, faculty and practitioners. The expository treatments are suitable for masters and PhD students, with discussions leading from first principles to current research, with reference to important research works in the area. The Handbook is intended to be a synopsis of the current state of various aspects of the theory of financial economics and its application to important financial problems. The coverage consists of thirty-three chapters written by leading experts in the field. The contributions are in two broad categories: capital markets and corporate finance.

Milton Friedman: 50 Years Later

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Publisher : Stigler Center
ISBN 13 :
Total Pages : 147 pages
Book Rating : 4./5 ( download)

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Book Synopsis Milton Friedman: 50 Years Later by :

Download or read book Milton Friedman: 50 Years Later written by and published by Stigler Center. This book was released on 2020-09-01 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: To mark the 50-year anniversary of Milton Friedman’s influential New York Times piece on the social responsibility of business, we published a series of articles on the shareholder-stakeholder debate. In the mid-1980s, Milton Friedman’s view that the only social responsibility of business is to increase its profits became dominant in business and academia. Since the Great Financial Crisis, his views have increasingly been challenged. The 28-piece series first appeared in our publication, ProMarket.

Industrial Organization in Context

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Publisher : Oxford University Press, USA
ISBN 13 : 0199291195
Total Pages : 1021 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Industrial Organization in Context by : Stephen Martin

Download or read book Industrial Organization in Context written by Stephen Martin and published by Oxford University Press, USA. This book was released on 2010-04-22 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Organization in Context examines the economics of markets, industries and their participants and public policy towards these entities. It takes an international approach and incorporates discussion of experimental tests of economic models.

Value

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Publisher : John Wiley & Sons
ISBN 13 : 0470949082
Total Pages : 280 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis Value by : McKinsey & Company Inc.

Download or read book Value written by McKinsey & Company Inc. and published by John Wiley & Sons. This book was released on 2010-10-26 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible guide to the essential issues of corporate finance While you can find numerous books focused on the topic of corporate finance, few offer the type of information managers need to help them make important decisions day in and day out. Value explores the core of corporate finance without getting bogged down in numbers and is intended to give managers an accessible guide to both the foundations and applications of corporate finance. Filled with in-depth insights from experts at McKinsey & Company, this reliable resource takes a much more qualitative approach to what the authors consider a lost art. Discusses the four foundational principles of corporate finance Effectively applies the theory of value creation to our economy Examines ways to maintain and grow value through mergers, acquisitions, and portfolio management Addresses how to ensure your company has the right governance, performance measurement, and internal discussions to encourage value-creating decisions A perfect companion to the Fifth Edition of Valuation, this book will put the various issues associated with corporate finance in perspective.

Best-Practice EVA

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Publisher : John Wiley & Sons
ISBN 13 : 1118645316
Total Pages : 357 pages
Book Rating : 4.1/5 (186 download)

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Book Synopsis Best-Practice EVA by : Bennett Stewart

Download or read book Best-Practice EVA written by Bennett Stewart and published by John Wiley & Sons. This book was released on 2013-02-19 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Best-Practice EVA tells the new EVA story from the ground up. Stewart covers EVA essentials—the classic economic profit version of EVA—in the first three chapters of the book. He shows readers how simple and intuitive EVA really is, how it is defined, and why it is better than all other measures of corporate profit. You discover how it naturally guides managers into making all the right decisions—the ones that will truly maximize value. You see how to use it in profit-sharing bonus plans that create the powerful incentives of an owner. Later, Stewart introduces new ratios that make EVA much more powerful and much easier to use than ever before. The pinnacle of the new ratio framework is EVA Momentum, calculated by taking the change in EVA versus the prior period, and dividing by the revenues in the prior period. It measures the growth rate in EVA, scaled to the sales size of the business. It is the only corporate performance ratio where bigger always is better, because it gets bigger when EVA does, which means it should be every company's most important financial goal, the one ratio metric that everyone aims to maximize as the key measure of corporate success. Stewart then walks through the nuts and bolts of Best-Practice EVA, kicking off with an in-depth look at EVA Margin, or EVA as a percent of sales. It’s a key productivity metric, and Stewart’s candidate to replace ROI. The last link in the Best-Practice program is PRVit—the EVA market score report. Stewart shows how to read and interpret the report, how the score is determined, and why investors are turning to it to screen and rate stocks. He also shows why it is finding a home with CFOs and IR directors who want insights into how the market is pricing their stock. The book concludes with battle-tested tips from the firing line, practical suggestions for how you can test drive and adopt Best-Practice EVA at your company.

The Antitrust Paradox

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Publisher :
ISBN 13 : 9781736089712
Total Pages : 536 pages
Book Rating : 4.0/5 (897 download)

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Book Synopsis The Antitrust Paradox by : Robert Bork

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Morality, Competition, and the Firm

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Publisher : Oxford University Press
ISBN 13 : 0199990492
Total Pages : 425 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis Morality, Competition, and the Firm by : Joseph Heath

Download or read book Morality, Competition, and the Firm written by Joseph Heath and published by Oxford University Press. This book was released on 2014-08-01 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

The Routledge International Handbook of Financialization

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Publisher : Routledge
ISBN 13 : 1351390368
Total Pages : 584 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis The Routledge International Handbook of Financialization by : Philip Mader

Download or read book The Routledge International Handbook of Financialization written by Philip Mader and published by Routledge. This book was released on 2020-02-05 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy. It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization. Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.

Journal of Financial Economics

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.4/5 (5 download)

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Book Synopsis Journal of Financial Economics by : Graduate School of Management

Download or read book Journal of Financial Economics written by Graduate School of Management and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Published: Elsevier, 2004-