Valuation: measuring and managing the value of companies

Table of Contents: Part One Foundations of Value 1. Why Value Value? 2. Fundamental Principles of Value Creation 3. Conservation of Value and the Role of Risk 4. The Alchemy of Stock Market Performance 5. The Stock Market Is Smarter Than You Think 6. Return on Invested Capital 7. Growth Part Two Core Valuation Techniques 8. Frameworks for Valuation 9. Reorganizing the Financial Statements 10. Analyzing Performance 11. Forecasting Performance 12. Estimating Continuing Value 13. Estimating the Cost of Capital 14. Moving from Enterprise Value to Value per Share 15. Analyzing the Results 16. Using Multiples 17. Valuation by Parts Part Three Advanced Valuation Techniques 18. Taxes 19. Nonoperating Items, Provisions, and Reserves 20. Leases and Retirement Obligations 21. Alternative Ways to Measure Return on Capital 22. Inflation 23. Cross-Border Valuation 24. Case Study: Heineken Part Four Managing for Value 25. Corporate Portfolio Strategy 26. Performance Management 27. Mergers and Acquisitions 28. Divestitures 29. Capital Structure, Dividends, and Share Repurchases 30. Investor Communications Part Five Special Situations 31. Emerging Markets 32. Valuing High-Growth Companies 33. Cyclical Companies 34. Banks 35. Flexibility

Valuation, University Edition, Sixth Edition, is filled with the expert guidance from McKinsey & Company that students and professors have come to rely on. New to the fully revised and updated Sixth Edition: • New case studies that clearly illustrate how vital valuation techniques and principles are applied in real-world situations • Expanded content on advanced valuation techniques • New content on the strategic advantages of value-based management that reflect the economic events of the past decade For twenty-five years Valuation has remained true to its core principles and offers a step-by-step approach to valuation, including: • Analyzing historical performance • Forecasting performance • Estimating the cost of capital with practical tips • 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 The University Edition contains End-of-Chapter Review Questions, helping students master key concepts from each chapter. (http://as.wiley.com/WileyCDA/WileyTitle/productCd-1118873734.html)