{"product_id":"valuation-measuring-and-managing-the-value-of-companies-university-edition-isbn-9781394279470","title":"Valuation: Measuring and Managing the Value of Companies, University Edition","description":"\u003cp\u003e\u003cb\u003eThe #1 best-selling guide to business valuation, newly updated and revised\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eValuation, University Edition, Eighth Edition: Measuring and Managing the Value of Companies \u003c\/i\u003eis filled with the expert guidance from McKinsey \u0026amp; Company that students and professors have come to rely on for more than 30 years. Now in it’s eighth edition, this volume continues to help professors and students around the world gain a deep understanding of valuation and help their companies create, manage, and maximize economic value for their shareholders.\u003c\/p\u003e \u003cp\u003eCalled “the best practitioners' guide to valuation” by \u003ci\u003eThe Financial Times\u003c\/i\u003e and “one of the most influential contemporary books about the world economy” by \u003ci\u003eThe Economist,\u003c\/i\u003e the newly revised eighth McKinsey's long tradition of excellence. In the book, a team of veteran McKinsey \u0026amp; Company professionals walk you through the foundations of valuation, advanced topics like valuing high-growth companies and digital assets, and managerial topics such as corporate portfolio strategy and acquisitions. You'll also discover:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eQuestions at the end of each chapter for use in class discussions, assignments, and more with access to a curriculum and test bank\u003c\/li\u003e \u003cli\u003eBest practices to apply valuation to business strategy questions and communicate with investors\u003c\/li\u003e \u003cli\u003eHow to analyze and forecast performance, the cost of capital, and put it all together in a coherent valuation\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe \u003ci\u003eUniversity Edition\u003c\/i\u003e contains end-of-chapter review questions to help students master key concepts from the book. Professors\u003c\/p\u003e McKinsey \u0026amp; Company has been helping businesses, governments, non-profit organizations and other institutions grow and thrive for almost 100 years . \u003ci\u003eValuation\u003c\/i\u003e's authors draw on that storied history to bring you the most relevant, accurate, intuitive, and practical guide to valuation on the market today. \u003cp\u003eAbout the Authors ix\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Foundations of Value\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Why Value Value? 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Finance in a Nutshell 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Fundamental Principles of Value Creation 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Risk and the Opportunity Cost of Capital 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 The Alchemy of Stock Market Performance 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 The Stock Market and Economic Fundamentals 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 104\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 The Stock Market Is Smarter Than You Think 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Return on Invested Capital 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Growth 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 180\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Core Valuation Techniques\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Frameworks for Valuation 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 212\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Reorganizing the Financial Statements 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 249\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Analyzing Performance 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 270\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Forecasting Performance 273\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 300\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Estimating Continuing Value 303\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 323\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 Estimating the Cost of Capital 325\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 355\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 Moving from Enterprise Value to Value per Share 357\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 378\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17 Analyzing the Results 381\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 391\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18 Using Multiples 393\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 413\u003c\/p\u003e \u003cp\u003e\u003cb\u003e19 Valuation by Parts 415\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 434\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Advanced Valuation Techniques\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e20 Taxes 439\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 454\u003c\/p\u003e \u003cp\u003e\u003cb\u003e21 Nonoperating Items, Provisions, and Reserves 457\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 472\u003c\/p\u003e \u003cp\u003e\u003cb\u003e22 Leases 473\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 488\u003c\/p\u003e \u003cp\u003e\u003cb\u003e23 Retirement Obligations 491\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 501\u003c\/p\u003e \u003cp\u003e\u003cb\u003e24 Measuring Performance in Capital-Light Businesses 503\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 518\u003c\/p\u003e \u003cp\u003e\u003cb\u003e25 CFROI and Other Ways to Measure Return on Capital 519\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 529\u003c\/p\u003e \u003cp\u003e\u003cb\u003e26 Inflation 531\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 550\u003c\/p\u003e \u003cp\u003e\u003cb\u003e27 Cross-Border Valuation 551\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 569\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four Managing for Value\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e28 Corporate Portfolio Strategy 573\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 593\u003c\/p\u003e \u003cp\u003e\u003cb\u003e29 Strategic Management: Analytics 595\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 616\u003c\/p\u003e \u003cp\u003e\u003cb\u003e30 Strategic Management: Governance, Processes, and Decision Making 617\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 633\u003c\/p\u003e \u003cp\u003e\u003cb\u003e31 Mergers and Acquisitions 635\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 663\u003c\/p\u003e \u003cp\u003e\u003cb\u003e32 Divestitures 665\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 681\u003c\/p\u003e \u003cp\u003e\u003cb\u003e33 Digital Initiatives and Companies 683\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 702\u003c\/p\u003e \u003cp\u003e\u003cb\u003e34 Sustainability 703\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 720\u003c\/p\u003e \u003cp\u003e\u003cb\u003e35 Capital Structure, Dividends, and Share Repurchases 721\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 752\u003c\/p\u003e \u003cp\u003e\u003cb\u003e36 Investor Communications 753\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 777\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Five Special Situations\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e37 Leveraged Buyouts 781\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 800\u003c\/p\u003e \u003cp\u003e\u003cb\u003e38 Venture Capital 801\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 815\u003c\/p\u003e \u003cp\u003e\u003cb\u003e39 High-Growth Companies 817\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 832\u003c\/p\u003e \u003cp\u003e\u003cb\u003e40 Flexibility and Options 833\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 868\u003c\/p\u003e \u003cp\u003e\u003cb\u003e41 Emerging Markets 869\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 887\u003c\/p\u003e \u003cp\u003e\u003cb\u003e42 Cyclical Companies 889\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 898\u003c\/p\u003e \u003cp\u003e\u003cb\u003e43 Banks 899\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReview Questions 920\u003c\/p\u003e \u003cp\u003eAppendix A Discounted Economic Profit Equals Discounted Free Cash Flow 921\u003c\/p\u003e \u003cp\u003eAppendix B Derivation of Free Cash Flow, Weighted Average Cost of Capital, and Adjusted Present Value 925\u003c\/p\u003e \u003cp\u003eAppendix C Levering and Unlevering the Cost of Equity 931\u003c\/p\u003e \u003cp\u003eAppendix D Leverage and the Price-to-Earnings Multiple 939\u003c\/p\u003e \u003cp\u003eAppendix E Other Capital Structure Issues 943\u003c\/p\u003e \u003cp\u003eAppendix F Technical Issues in Estimating the Market Risk Premium 947\u003c\/p\u003e \u003cp\u003eAppendix G Global, International, and Local CAPM 951\u003c\/p\u003e \u003cp\u003eAppendix H Two-Stage Formula for Continuing Value 959\u003c\/p\u003e \u003cp\u003eAppendix I A Valuation of Costco Wholesale 961\u003c\/p\u003e \u003cp\u003eIndex 987\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eTIM KOLLER\u003c\/b\u003e is a McKinsey partner and founder of McKinsey’s Strategy and Corporate Finance Insights team. In his 40 years of consulting, he has served clients globally on corporate strategy and capital markets, acquisitions and divestitures, and resource allocation. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eMARC GOEDHART\u003c\/b\u003e is a senior expert in McKinsey’s Strategy and Corporate Finance practice and an endowed professor of corporate valuation at Rotterdam School of Management (RSM), Erasmus University. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDAVID WESSELS\u003c\/b\u003e is an adjunct professor of finance at the Wharton School of the University of Pennsylvania. He was named by \u003ci\u003eBloomberg Businessweek\u003c\/i\u003e as one of America’s top business school instructors. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eMCKINSEY \u0026amp; COMPANY\u003c\/b\u003e is a global management consulting firm. McKinsey combines bold strategies and transformative technologies to help organizations innovate and achieve lasting gains in performance.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eExpert valuation guidance from McKinsey \u0026amp; Company that students and professors have come to rely on\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eValuation, University Edition, Eighth Edition\u003c\/i\u003e is filled with the expert guidance from McKinsey \u0026amp; Company that students and professors have come to rely on for more than 35 years. Now in its eighth edition, this volume continues to help professors and students around the world gain a deep understanding of valuation. \u003c\/p\u003e\u003cp\u003eCalled “the best practitioners’ guide to valuation” by the \u003ci\u003eFinancial Times\u003c\/i\u003e and “the most influential contemporary books about the world economy” by \u003ci\u003eThe Economist,\u003c\/i\u003e the \u003ci\u003eEighth Edition\u003c\/i\u003e of \u003ci\u003eValuation\u003c\/i\u003e continues McKinsey’s long tradition of excellence. In that book, a team of veteran McKinsey \u0026amp; Company professionals walk you through the foundations of valuation, advanced topics like valuing high-growth companies and digital assets, and managerial topics such as corporate portfolio strategy and acquisitions. Here, you’ll discover: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eQuestions at the end of each chapter for use in class discussions, assignments, and more with access to a curriculum and test bank\u003c\/li\u003e\n\u003cli\u003eBest practices to apply valuation to business strategy questions and communicate with investors\u003c\/li\u003e\n\u003cli\u003eHow to analyze and forecast performance, the cost of capital, and put it all together in a coherent valuation\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eEngaging and accessible, this \u003ci\u003eUniversity Edition\u003c\/i\u003e contains essential information needed to excel at this challenging endeavor.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990444458213,"sku":"NP9781394279470","price":90.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394279470.jpg?v=1761787855","url":"https:\/\/k12savings.com\/products\/valuation-measuring-and-managing-the-value-of-companies-university-edition-isbn-9781394279470","provider":"K12savings","version":"1.0","type":"link"}