Valuation or Buying Selling on eBay

Valuation: Measuring and Managing the Value of Companies

Author: McKinsey Company Inc

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.

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.

What People Are Saying

J. Fred Weston
J. Fred Weston, Cordner Professor of Money and Financial Markets, Graduate School of Management, UCLA
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.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.

Table of Contents:

Pt. 1	Foundations of value
1	Why maximize value?	3
2	The value manager	23
3	Fundamental principles of value creation	47
4	Do fundamentals really drive the stock market?	69
Pt. 2	Core valuation techniques
5	Frameworks for valuation	101
6	Thinking about return on invested capital and growth	133
7	Analyzing historical performance	159
8	Forecasting performance	229
9	Estimating continuing value	271
10	Estimating the cost of capital	291
11	Calculating and interpreting results	331
12	Using multiples for valuation	361
Pt. 3	Making value happen
13	Performance measurement	383
14	Performance management	405
15	Creating value through mergers and acquisitions	427
16	Creating value through divestitures	453
17	Capital structure	475
18	Investor communications	509
Pt. 4	Advanced valuation issues
19	Valuing multibusiness companies	531
20	Valuing flexibility	543
21	Cross-border valuation	575
22	Valuation in emerging markets	605
23	Valuing high-growth companies	637
24	Valuing cyclical companies	653
25	Valuing financial institutions	663
App. A	Economic profit and the key value driver formula	693
App. B	Discounted economic profit equals discounted free cash flow	697
App. C	Adjusted present value equals discounted free cash flow	701
App. D	Levering and unlevering the cost of equity	707
App. E	Leverage and the price-earnings multiple	715

Interesting book: The Six SIGMA Handbook Revised and Expanded or Reach for the Summit

Buying & Selling on eBay (Quamut)

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