FinUniversity Electronic Library

     
?

Details
Card Table RUSMARC

Koller, T. Valuation. Measuring and managing the value of companies [Электронный ресурс] / T. Koller, M. Goedhart, D. Wessels. — 5-th edition. — 12,37 Мб. — New Jersey: Wiley. — Издание на англ. яз. — Только электронный ресурс. — Доступ из локальной сети Финуниверситета (чтение). — <URL:http://elib.fa.ru/rbook/Valuathion.pdf>.

Record create date: 6/28/2019

Subject: научные издания; полный текст; электронные публикации; стоимость; оценка; оценочная деятельность; управление стоимостью; оценка бизнеса; компании; предприятия; рыночная стоимость; страховая стоимость

UDC:

Allowed Actions: –

Action 'Read' will be available if you login or access site from another network

Group: Anonymous

Network: Internet

Document access rights

Network User group Action
Finuniversity Local Network All Read
Internet Readers Read
-> Internet All

Table of Contents

  • Valuation University Edition, Fifth Edition: Measuring and Managing the Value of Companies
    • Contents
    • About the Authors
    • Preface
    • Acknowledgments
    • Part One: Foundations of Value
      • Chapter 1: Why Value Value?
        • CONSEQUENCES OF FORGETTING TO VALUE VALUE
        • BENEFITS OF FOCUSING ON LONG-TERM VALUE
        • CHALLENGES OF FOCUSING ON LONG-TERM VALUE
        • REVIEW QUESTIONS
      • Chapter 2: Fundamental Principles of Value Creation
        • GROWTH AND ROIC: DRIVERS OF VALUE
        • CONSERVATION OF VALUE
        • RISK AND VALUE CREATION
        • THE MATH OF VALUE CREATION
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 3: The Expectations Treadmill
        • WHY SHAREHOLDER EXPECTATIONS BECOME A TREADMILL
        • REAL-WORLD EFFECTS OF THE EXPECTATIONS TREADMILL
        • DECOMPOSING TRS
        • UNDERSTANDING EXPECTATIONS
        • MANAGERIAL IMPLICATIONS
        • REVIEW QUESTIONS
      • Chapter 4: Return on Invested Capital
        • DRIVERS OF RETURN ON INVESTED CAPITAL
        • COMPETITIVE ADVANTAGE
        • SUSTAINABILITY OF RETURN ON INVESTED CAPITAL
        • EMPIRICAL ANALYSIS OF RETURNS ON INVESTED CAPITAL
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 5: Growth
        • DRIVERS OF REVENUE GROWTH
        • GROWTH AND VALUE CREATION
        • DIFFICULTY OF SUSTAINING GROWTH
        • EMPIRICAL ANALYSIS OF CORPORATE GROWTH
        • SUMMARY
        • REVIEW QUESTIONS
    • Part Two: Core Valuation Techniques
      • Chapter 6: Frameworks for Valuation
        • ENTERPRISE DISCOUNTED CASH FLOW MODEL
        • ECONOMIC-PROFIT-BASED VALUATION MODELS
        • ADJUSTED PRESENT VALUE MODEL
        • CAPITAL CASH FLOW MODEL
        • CASH-FLOW-TO-EQUITY VALUATION MODEL
        • OTHER APPROACHES TO DISCOUNTED CASH FLOW
        • ALTERNATIVES TO DISCOUNTED CASH FLOW
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 7: Reorganizing the Financial Statements
        • REORGANIZING THE ACCOUNTING STATEMENTS: KEY CONCEPTS
        • REORGANIZING THE ACCOUNTING STATEMENTS: IN PRACTICE
        • ADVANCED ANALYTICAL ISSUES
        • REVIEW QUESTIONS
      • Chapter 8: Analyzing Performance and Competitive Position
        • ANALYZING RETURNS ON INVESTED CAPITAL
        • ANALYZING REVENUE GROWTH
        • CREDIT HEALTH AND CAPITAL STRUCTURE
        • ALTERNATIVES TO ROIC
        • GENERAL CONSIDERATIONS
        • REVIEW QUESTIONS
      • Chapter 9: Forecasting Performance
        • DETERMINE LENGTH AND DETAIL OF THE FORECAST
        • COMPONENTS OF A GOOD MODEL
        • MECHANICS OF FORECASTING
        • ADDITIONAL ISSUES
        • REVIEW QUESTIONS
      • Chapter 10: Estimating Continuing Value
        • RECOMMENDED FORMULA FOR DCF VALUATION
        • RECOMMENDED FORMULA FOR ECONOMIC-PROFIT VALUATION
        • SUBTLETIES OF CONTINUING VALUE
        • COMMON PITFALLS
        • EVALUATING OTHER APPROACHES TO CONTINUING VALUE
        • ADVANCED FORMULAS FOR CONTINUING VALUE
        • REVIEW QUESTIONS
      • Chapter 11: Estimating the Cost of Capital
        • WEIGHTED AVERAGE COST OF CAPITAL
        • ESTIMATING THE COST OF EQUITY
        • ESTIMATING THE AFTER-TAX COST OF DEBT
        • USING TARGET WEIGHTS TO DETERMINE THE COST OF CAPITAL
        • COMPLEX CAPITAL STRUCTURES
        • REVIEW QUESTIONS
      • Chapter 12: Moving from Enterprise Value to Value per Share
        • VALUING NONOPERATING ASSETS
        • VALUING DEBT AND DEBT EQUIVALENTS
        • VALUING HYBRID SECURITIES AND MINORITY INTERESTS
        • ESTIMATING VALUE PER SHARE
        • REVIEW QUESTIONS
      • Chapter 13: Calculating and Interpreting Results
        • VERIFYING VALUATION RESULTS
        • SENSITIVITY ANALYSIS
        • CREATING SCENARIOS
        • VALUATION BY PARTS
        • THE ART OF VALUATION
        • REVIEW QUESTIONS
      • Chapter 14: Using Multiples to Triangulate Results
        • USING THE RIGHT MULTIPLE
        • CALCULATING THE MULTIPLE IN A CONSISTENT MANNER
        • USING THE RIGHT PEER GROUP
        • ALTERNATIVE MULTIPLES
        • SUMMARY
        • REVIEW QUESTIONS
    • Part Three: Intrinsic Value and the Stock Market
      • Chapter 15: Market Value Tracks Return on Invested Capital and Growth
        • STOCK MARKETS TRACK ECONOMIC FUNDAMENTALS
        • COMPANY VALUATION LEVELS TRACK RETURN ON INVESTED CAPITAL AND GROWTH
        • TOTAL RETURNS TO SHAREHOLDERS TRACK PERFORMANCE AGAINST EXPECTATIONS
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 16: Markets Value Substance, Not Form
        • MANAGING EARNINGS: NOT WORTH THE EFFORT
        • ECONOMICS OF ACCOUNTING INFORMATION: NO MYSTERY TO THE MARKET
        • TECHNICAL TRADING FACTORS ARE IRRELEVANT FOR VALUE
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 17: Emotions and Mispricing in the Market
        • EMOTIONS RARELY DRIVE STOCK MARKET VALUES
        • COMPANY MISPRICING: CARVE-OUTS AND DUAL LISTINGS
        • COMPANY MISPRICING: OVERREACTION AND UNDERREACTION, REVERSAL AND MOMENTUM
        • MARKET MISPRICING: BUBBLES AND BURSTS
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 18: Investors and Managers in Efficient Markets
        • INVESTORS IN EFFICIENT MARKETS
        • MANAGERIAL IMPLICATIONS
        • REVIEW QUESTIONS
    • Part Four: Managing for Value
      • Chapter 19: Corporate Portfolio Strategy
        • WHAT MAKES AN OWNER THE BEST
        • THE BEST-OWNER LIFE CYCLE
        • CONSTANTLY EVOLVING PORTFOLIO OF BUSINESSES
        • CONSTRUCTING THE PORTFOLIO
        • THE MYTH OF DIVERSIFICATION
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 20: Performance Management
        • CHOOSING THE RIGHT METRICS
        • ORGANIZATIONAL SUPPORT
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 21: Mergers and Acquisitions
        • VALUE CREATION FRAMEWORK
        • EMPIRICAL RESULTS
        • ARCHETYPES FOR VALUE-CREATING ACQUISITIONS
        • MORE DIFFICULT STRATEGIES FOR CREATING VALUE FROM ACQUISITIONS
        • ESTIMATION OF OPERATING IMPROVEMENTS
        • HOW TO PAY: IN CASH OR IN STOCK?
        • FOCUS ON VALUE CREATION, NOT ACCOUNTING
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 22: Creating Value through Divestitures
        • VALUE CREATION FROM DIVESTITURES
        • HOW TO APPROACH DIVESTITURES
        • DECIDING ON TRANSACTION TYPE
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 23: Capital Structure
        • CAPITAL STRUCTURE AND VALUE CREATION
        • CREDIT RATINGS AND CAPITAL STRUCTURE
        • SHORT-TERM STEPS TO MANAGE CAPITAL STRUCTURE
        • DESIGNING A LONG-TERM CAPITAL STRUCTURE
        • CREATING VALUE FROM FINANCIAL ENGINEERING
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 24: Investor Communications
        • INTRINSIC VALUE VERSUS MARKET VALUE
        • UNDERSTANDING THE INVESTOR BASE
        • COMMUNICATING TO INTRINSIC INVESTORS
        • SUMMARY
        • REVIEW QUESTIONS
    • Part Five: Advanced Valuation Issues
      • Chapter 25: Taxes
        • OPERATING TAXES ON THE REORGANIZED INCOME STATEMENT
        • CONVERTING OPERATING TAXES TO OPERATING CASH TAXES
        • DEFERRED TAXES ON THE REORGANIZED BALANCE SHEET
        • VALUING DEFERRED TAXES
        • REVIEW QUESTIONS
      • Chapter 26: Nonoperating Expenses, One-Time Charges, Reserves, and Provisions
        • NONOPERATING EXPENSES AND ONE-TIME CHARGES
        • PROVISIONS AND THEIR CORRESPONDING RESERVES
        • REVIEW QUESTIONS
      • Chapter 27: Leases, Pensions, and Other Obligations
        • OPERATING LEASES
        • SECURITIZED RECEIVABLES
        • PENSIONS AND OTHER POSTRETIREMENT BENEFITS
        • REVIEW QUESTIONS
      • Chapter 28: Capitalized Expenses
        • EXPENSING VERSUS CAPITALIZATION
        • PROCESS FOR CAPITALIZING R&D
        • ROIC AND FREE CASH FLOW WITH CAPITALIZED R&D
        • OTHER EXPENSES SUITABLE FOR CAPITALIZATION
        • REVIEW QUESTIONS
      • Chapter 29: Inflation
        • INFLATION LEADS TO LOWER VALUE CREATION
        • HISTORICAL ANALYSIS IN TIMES OF HIGH INFLATION
        • FINANCIAL PROJECTIONS IN REAL AND NOMINAL TERMS
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 30: Foreign Currency
        • FORECASTING CASH FLOWS IN FOREIGN AND DOMESTIC CURRENCY
        • ESTIMATING THE COST OF CAPITAL IN FOREIGN CURRENCY
        • INCORPORATING FOREIGN-CURRENCY RISK IN VALUATIONS
        • USING TRANSLATED FOREIGN-CURRENCY FINANCIAL STATEMENTS
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 31: Case Study: Heineken
        • INDUSTRY DEVELOPMENTS
        • REORGANIZING FINANCIAL STATEMENTS
        • ANALYZING HISTORICAL PERFORMANCE
        • FORECASTING PERFORMANCE
        • ESTIMATING COST OF CAPITAL
        • ESTIMATING CONTINUING VALUE
        • CALCULATING AND INTERPRETING RESULTS
    • Part Six: Special Situations
      • Chapter 32: Valuing Flexibility
        • UNCERTAINTY, FLEXIBILITY, AND VALUE
        • CLASSIFYING FLEXIBILITY IN TERMS OF REAL OPTIONS
        • METHODS FOR VALUING FLEXIBILITY
        • FOUR-STEP PROCESS FOR VALUING FLEXIBILITY
        • REAL-OPTION VALUATION AND DECISION TREE ANALYSIS: A NUMERICAL EXAMPLE
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 33: Valuation in Emerging Markets
        • HISTORICAL ANALYSIS
        • CREATING A CONSISTENT SET OF ECONOMIC ASSUMPTIONS
        • FORECASTING CASH FLOWS
        • INCORPORATING EMERGING-MARKET RISKS IN THE VALUATION
        • ESTIMATING COST OF CAPITAL IN EMERGING MARKETS
        • CALCULATING AND INTERPRETING RESULTS
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 34: Valuing High-Growth Companies
        • VALUATION PROCESS FOR HIGH-GROWTH COMPANIES
        • UNCERTAINTY IS HERE TO STAY
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 35: Valuing Cyclical Companies
        • SHARE PRICE BEHAVIOR
        • APPROACH TO VALUING CYCLICAL COMPANIES
        • IMPLICATIONS FOR MANAGING CYCLICAL COMPANIES
        • SUMMARY
        • REVIEW QUESTIONS
      • Chapter 36: Valuing Banks
        • ECONOMICS OF BANKING
        • PRINCIPLES OF BANK VALUATION
        • COMPLICATIONS IN BANK VALUATIONS
        • SUMMARY
        • REVIEW QUESTIONS
    • Appendix A: Economic Profit and the Key Value Driver Formula
    • Appendix B: Discounted Economic Profit Equals Discounted Free Cash Flow
    • Appendix C: Derivation of Free Cash Flow, Weighted Average Cost of Capital, and Adjusted Present Value
      • ENTERPRISE DISCOUNTED CASH FLOW
      • ADJUSTED PRESENT VALUE
    • Appendix D: Levering and Unlevering the Cost of Equity
      • UNLEVERED COST OF EQUITY
      • LEVERED COST OF EQUITY
      • LEVERED BETA
    • Appendix E: Leverage and the Price-to-Earnings Multiple
      • STEP 1
      • STEP 2
      • STEP 3
    • Index

Usage statistics

stat Access count: 12
Last 30 days: 0
Detailed usage statistics