Shareholder value can no longer be seen as the latest craze in the corporate classroom. It's grown up. It's redefining the syllabus by which we learn to profit or perish. It has moved into the mainstream of global corporate life where would-be winners can no longer afford to ignore it.Drawing on the experience of
PricewaterhouseCoopers' worldwide network of companies and clients, this new edition of a best-selling title will provide you with the key to unlocking the secrets to real wealth creation. The impact of the information revolution, the integration of capital markets, and the increased ability of investors to compare and contrast corporate performance has put shareholder value high on the corporate agenda. These days, investors injecting money into your company are looking for a financial return as good as, if not better than, if they had invested in any other. Today's businesses need to maximize value for their shareholders or watch their share price plummet as investors vote with their feet and transfer their money and their trust into competitors' hands.
Benefits
In Search of Shareholder Value explains the concept of shareholder value and shows how it can help companies and their managers make better, more informed, and proactive decisions. It looks at the philosophy of value creation and at the global financial environment in which value-based management can thrive, and it transforms the insights of market analysts into management tools that can be used throughout the company to add genuine improvements to performance. The book covers every aspect of learning how to deliver value to your investors, including:
- introducing the basic concepts of shareholder value
- analyzing the theory and history behind shareholder value
- establishing the true cost of your capital
- the market's preference for judging performance on cash flow rather than profit and loss
- how shareholder value is being applied within emerging economies.
- principels of value-based management
"Read this and never again will the financial reports from the markets go over your head." Business Money "In Search of Shareholder Value accumulates our global experience of helping companies to enhance shareholder value. CEOs, CFOs and other senior executives tell us that this continues to be a key priority. I believe this book demonstrates our commitment to contributing to their success." Jim Schiro, CEO, PricewaterhouseCoopers "This is very much a how to book, with plenty of original ideas. The application of its concepts should make a significant contribution to raising management performance." Sir Brian Pitman, Chairman, Lloyds TSB Group plc "SHV creation has become the flag waved by large corporates aiming to build international franchise through easier access to global financing. Philip Wright and Andrew Black enlighten the complexity of the concept... Their book provides an invitation to business managers to think how they may contribute to creating a sound and sustainable basis for economic growth within a balanced social organization." Gerard de la Martiniere, CFO, Axa "Traditional accounting methods do not allow proper assessment of intrinsic value of stocks. Cash is what counts! Value-based analysis is essential for investors to evaluate potential opportunities, and for corporates to run their business more efficiently. [This book] should contribute to make these necessary changes happen." Francois Langlade-Demoyen, Director of European Strategy, Credit Suisse First Boston "ABB has always supported the concept of shareholder value and the time is now right to focus on Value Based Management throughout the business. It provides a good health check for the organization and reassures shareholders that there is alignment of resources around a common goal." Renato Fassbind, CFO, ABB "Creating shareholder value is the objective of every company today. PricewaterhouseCoopers' experience in helping companies on this continuous journey is invaluable. Getting started on the process is sometimes mysterious. This book can help you begin the journey." Steven S. Reinemund, Chairman and CEO, Frito-Lay Inc. "In Search of Shareholder Value gave me the reasons and clear road map for the journey of introducing a value mindset and value management into TPG." Peter Braake, CFO, TPG
