Author: Alfred Rappaport
Editor: Simon and Schuster
ISBN: 0684844567
Size: 14,70 MB
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Editor: Simon and Schuster
ISBN: 0684844567
Size: 14,70 MB
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While short-term shareholder interests are roundly criticized, the interests of long-term shareholders are all but put on a pedestal. Managers are told to ignore the short-term stock price and focus on maximizing long-term shareholder value by legal academics,11 business school professors,12 and Delaware judges, who have repeatedly emphasized the. Increasing shareholder value requires knowledge about the sources of. 138, and Alfred Rappaport, “Selecting Strategies That Create. Shareholder Value.
DownloadThe ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, Creating Shareholder Value, Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. 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? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table. 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.
Relationship Marketing
Author: Martin Christopher
Editor: Routledge
ISBN: 0750648392
Size: 18,19 MB
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ISBN: 0750648392
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The authors of this text continue to develop their widely known and admired philosophy of relationship marketing. It covers all the stakeholder markets, employees, suppliers, influencers, customers and consumers, in which this relationship is critical.
Author: Roger A. Morin
Editor: McGraw Hill Professional
ISBN: 9780071379861
Size: 11,66 MB
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DownloadEditor: McGraw Hill Professional
ISBN: 9780071379861
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BusinessWeek and Harvard Business Review tout value-based management as the benchmark for creating and enhancing shareholder value. Numerous industry-leading companies embrace VBM. Now Driving Shareholder Value travels to the heart of VBM, providing approaches, perspectives, and strategies managers can use to implement VBM for better decisions and maximized shareholder wealth. The authors’ one-of-a-kind value creation framework—complete with dozens of useful worksheets, checklists, case studies, and more—draws on current practices plus 25 years of VBM lessons, including: *The four guiding principles of VBM activities *Five steps to institutionalizing VBM *An integrative VBM framework—complete with step-by-step examples
Marketing And Finance
Author: Malcolm McDonald
Editor: John Wiley & Sons
ISBN: 1118748891
Size: 11,90 MB
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DownloadEditor: John Wiley & Sons
ISBN: 1118748891
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Written for marketing and finance directors, CEOs, and strategists, as well as MBA students, this practical book explains the principles and practice behind rigorous due diligence in marketing. It connects marketing plans and investment to the valuation of the firm and how it can contribute to increasing stakeholder value. Completely revised and updated throughout, the Second Edition features new case examples as well as a completely new first chapter containing the results of new research into risk and marketing strategies amongst Finance Directors and Chief Marketing Officers.
Author: Volker G. Hahn
Editor: BoD – Books on Demand
ISBN: 3844100512
Size: 20,47 MB
Format: PDF, Kindle
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DownloadEditor: BoD – Books on Demand
ISBN: 3844100512
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Shareholder Value In Banking
Author: F. Fiordelisi
Editor: Springer
ISBN: 0230595928
Size: 18,41 MB
Format: PDF, Docs
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ISBN: 0230595928
Size: 18,41 MB
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Sustainable shareholder value is a main strategic objective for financial institutions. This text provides an analytical assessment of shareholder value creation, providing a framework for analyzing theory, and presenting empirical investigations. It analyzes the importance of drivers in creating value and develops a new measure of bank efficiency.
Author: David Crowther
Editor:
ISBN: 9781904298595
Size: 10,75 MB
Format: PDF
Read: 526
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ISBN: 9781904298595
Size: 10,75 MB
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This book addresses the application creating shareholder value by providing a clear guide to the appropriate techniques and systems to adopt in the management of the creation of shareholder value.
Return On Investment Manual
Author: Robert Rachlin
Editor: M.E. Sharpe
ISBN: 9780765600141
Size: 18,16 MB
Format: PDF, ePub
Read: 199
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ISBN: 9780765600141
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The Encyclopedia, with its accompanying CD-ROM, is a tailor-made reference for professionals in the building industry who need immediately the most reliable and current sources of information in the field. In an industry already flooded with an enormous amount of resources, the explosion of the Internet and the World Wide Web in particular has added yet another dimension to the flood of information available to the practicing professional. The Encyclopedia -- provides the 'intelligence' to find, evaluate, and contact the resources that can save time and money; -- enables the user to cull through the vast number of information sources and quickly target specific areas of interest and the 'best' sources within those areas; -- offers the ability to make custom searches, using the full-text search capability or performing 'Boolean' searches; -- gives the user the ability to further personalize the searches with notes and reports that can be printed and used for presentations.
Author: Peter A. Hunt
Editor: Aspen Publishers
ISBN: 9780735510371
Size: 19,39 MB
Format: PDF, Kindle
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ISBN: 9780735510371
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Unlike other M&A references, this one-volume guide establishes a framework for analyzing each transaction from a financial perspective, and evaluating your options in terms of how they create value today or better position the company to build value tomorrow. In this newly updated Fifth Edition of Structuring Mergers & Acquisitions: A Guide to Creating Shareholder Value, you get clear, authoritative discussions of: How shareholder value relates to mergers and acquisitions, and different methodologies for valuing a transaction, such as discounted cash flow, comparable company, comparable transaction, premiums paid, price/volume relationships, and private company valuation. How accounting can influence value creating in mergers and acquisitions , a critical aspect of understanding and structuring the proper transaction for differing business circumstances. Collars, break-up fees, lock-ups, walk-aways, minority squeeze outs, earnouts, and anti-trust considerations, and other special topics you will encounter in deals Transactions you may encounter, from 'plain vanilla' deals like mergers, acquisitions, divestitures, joint ventures, and leveraged buyouts, to more complicated restructuring alternatives like spin-offs, split-offs, share repurchases, recapitalizations and restructuring options that can enhance shareholder value. Protecting against takeover threats, including legal and structural defenses, with coverage of the most common form of legal defense, the shareholder rights plan. Making aggressive or hostile offers for a company, the pros and cons of 'going it alone' in attempting a hostile acquisition. Performing effective and complete due diligence on a company in the context of a transaction, a critical step that is often overlooked as something 'someone else should do.' Handling the human aspects of mergers and acquisitions, including basic transition tips that can avoid massive pre- and post-deal turnover.
Translating Strategy Into Shareholder Value
Author: Raymond J. Trotta
Editor: AMACOM Div American Mgmt Assn
ISBN: 0814429335
Size: 12,22 MB
Format: PDF, Kindle
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ISBN: 0814429335
Size: 12,22 MB
Format: PDF, Kindle
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Too often there are serious missed signals between a company’s stated goals and the methods employed to try to reach them. Translating Strategy into Shareholder Value is a unique look at how the planning process relates to the achievement of shareholder value, and ways to ensure that the two directly complement each other. Using tools and a special case study to analyze past, present, and future performance, the book takes readers through a host of steps, including: * Comparing existing strategy to the competition and the economy as a whole * Analyzing productive capabilities and costs * Bringing nonfinancial metrics to test how future strategy creates value * Selecting the right analytical tool and looking at strategic solutions If corporations are to truly maximize their success, managers need to understand how to translate corporate strategy to the bottom line -- and that means seeing the big picture.
Further, Rappaport presents provocative new insights on shareholder value of his business classic, Creating Shareholder Value, Alfred Rappaport. It’s become fashionable to blame the pursuit of shareholder value for the ills besetting corporate America: managers and investors obsessed with next quarter’s. VBM Thought Leader: Alfred Rappaport. Creating Shareholder Value. The New Standard for Business Performance. Alfred Rappaport About Alfred Rappaport.
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No eBook available Amazon. In a market-based economy that recognizes the rights of private property, the only social responsibility of business is to create shareholder value and to do so legally and with integrity.
Creating Shareholder Value
Corporate management, however, has neither the political legitimacy nor the expertise to decide what is in the social interest. Even the most persistent advocate of shareholder value understands that without customer value there can be no shareholder value.
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. The distinction Rappaport makes between shareholder return and corporate return is particularly critical in today’s markets. None of them have the democratic freedom as shareholders do to buy shxreholder sell their shares.
No trivia or quizzes yet. But stakeholders must perceive the value-sharing process to be fair before they can be expected to maximize their commitment to a company. Readers will be particularly interested in Rappaport’s answers to three management performance evaluation questions: Second, shareholder returns may be materially influenced by what management believes to be unduly optimistic or pessimistic market expectations at the beginning or end of the performance measurement period.
Over the next ten years shareholder value will more than likely become the global standard for measuring business performance. They have much deeper and much more important stakes in our company than our shareholders. Must redeem within 90 days. To ask other readers questions about Creating Shareholder Valuesnareholder sign up. First, there is a significant wage and benefits premium that employees demand for the higher risk associated with a dangerous workplace.
Creating Shareholder Value: A Guide for Managers and Investors
Our form of government calls for elected legislators and the judicial system to be the mechanisms for collective choice. Simply said, I will help grow the pie if you give me my fair share. In a world in which principals e. As a result, the company began to lose money, lay off employees, and, finally, it declared bankruptcy. While conflicts between customer value and shareholder interests can be quantified and appropriately resolved by sound shareholder value analysis, conflicts between employee and shareholder interests pose a substantially more difficult challenge.
Second, there are workers’ compensation insurance premiums paid by the employer, which are affected by accident rates.
Sign up and get a shsreholder eBook! What is less obvious is how managers are evaluated in this market. Thus, managers are hurt by the failure more than shareholders. Innovation and customized products and services developed by highly skilled employees are increasingly a critical source of value creation.
When an accident occurs there are additional losses due to lost worker time and increased turnover arising from safety fears of coworkers.
Creating Shareholder Value: A Guide For Managers And Investors – Alfred Rappaport – كتب Google
Hence, the main audience is corporate managers but the book is equally useful to anyone on the financial m During sjareholder summer InvestingByTheBooks will review some older books that we never got around to writing about although we think they are important. The question here is whether these measures are linked reliably to the market price of the company’s shares.
Years of restructuring and employee layoffs frequently attributed to shareholder value considerations coupled with politicians who charge top management xreating self-interest and a shortsighted focus on the current stock price have promoted frustration and uncertainty.
See full terms and conditions and this month’s choices. Alan rated it liked it Nov 10, The second factor likely to influence management to adopt a shareholder orientation is compensation tied to shareholder return performance. Free Press December Length: The theory of a market economy is, after all, based on individuals promoting their self-interests via market transactions to bring about an efficient allocation of resources. In the early s there were very few companies with an unambiguous commitment to shareholder value.
Millions of employees have an indirect stake in stock performance by their participation in defined-benefit pension plans sponsored by their employers. Creating Shareholder Value Hardcover Readers will be particularly interested in Rappaport’s answers to three management performance evaluation questions: However, the critical role of the shareholder value approach in allocating resources in a market-based economy is far from universally accepted.
Options were for Rappaport a way to try to mitigate the risk that management vaule enrich themselves at the expense of the owners shareholedr the company. The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating sharehoder. Moreover the size of the targets continues to become larger.
According to Rappaport given that investors increasingly value bonds by discounting future cash flows, it stands to reason that they value stocks in the same fashion.
He also contrasts the creation of shareholder value to the shortcomings of accounting based estimates of value creation. The source of a company’s long-term cash flow is its satisfied customers. Shortcomings of Accounting Numbers. Because of limited market liquidity, shares would have to be sold at a discount to their most recent price. The same commentators that just a few years ago were lambasting CEOs for underperforming against foreign competitors are now criticizing CEOs for downsizing to improve competitiveness.
![Why is shareholder value important Why is shareholder value important](/uploads/1/2/5/8/125840190/304945508.png)
Providing a comparable product at a lower cost than competitors, or providing superior value to the customer through higher quality, special avlue, or postsale services, are not genuine advantages if the total long-term cost, including the cost of capital, is greater than the cash generated by the sale.
Read, highlight, and take notes, across web, tablet, and phone. Entering the s CEOs of many public companies were relieved to see Wall Street raiders move backstage. But there was to be no return to business as usual. A Guide for Managers and Investors. With the phenomenal growth in defined-contribution plans, particularly k plans, investment decisions along with the associated risk now belong to employees.