Valuation: Measuring and Managing the Value of Companies, Fourth Edition |  | Authors: McKinsey & Company Inc., Tim Koller, Marc Goedhart, David Wessels
Publisher: Wiley
List Price: $85.00
Buy New: $43.97
as of 11/8/2009 00:57 CST details
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Rating:  25 reviews
Sales Rank: 50108
Media: Hardcover
Edition: 4
Pages: 768
Number Of Items: 1
Shipping Weight (lbs): 3.2
Dimensions (in): 10 x 7.1 x 1.7
ISBN: 0471702188
Dewey Decimal Number: 658.15
UPC: 723812727360
EAN: 9780471702184
ASIN: 0471702188
Publication Date: June 8, 2005
Availability: Usually ships in 1-2 business days
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Product Description
Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition is thoroughly revised and expanded to reflect business conditions in today's volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization's value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This edition contains the solid framework that managers at all levels, investors, and students have come to trust.
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Showing reviews 1-5 of 25
 Best Overall Valuation Book September 12, 2009
Kenneth H. Marks (Raleigh, North Carolina)
0 out of 1 found this review helpful
The best foundational text on understanding valuation for any business. Kenneth H Marks, lead author of The Handbook of Financing Growth: Strategies, Capital Structure, and M&A Transactions (Wiley Finance)
 comprehensive, academic March 16, 2009
HiFi
1 out of 2 found this review helpful
I work for one of the largest banks in the US, and we use this book as a reference when we need to dig into the more arcane details of a project. If you do a lot of valuation work, this is a recommended text, but it is tome-like and a bit laborious to use, and I've found much of the advice it contains is rather ivory tower and not-so-practical in real world situations. If you are studying valuation theory, or do a lot of this work, particularly on publicly-held companies, you'll definitely want this textbook, though over time it might not be the one you reach for everyday. To accompany it, I would suggest also buying Horn's "Unlocking the Value of a Business" for everyday use, which is a more concise and user-friendly manual on privately-held company valuation, with a more lighthearted, less-academic tone, and Horn's credentials as an acquisitions dealmaker yield advice that is decidedly more practical.
The bridge between management and finance January 2, 2009
Ng Hon Ming (Hong Kong)
1 out of 1 found this review helpful
As a management consultant, this book bridges between management activities and financial performance.It makes sense of an organizations' day-to-day activities, from the investors'/organization owners' point of view.
 Book should be retitled valueing a company purely on the basis of its past cash flow October 1, 2008
Yoda (Hadera, Israel)
4 out of 12 found this review helpful
This is a good intro to give the basics of valuation for "old economy" businesses. It determines the valuation of companies based almost exclusively on their cash flow over the previous few years (i.e., 3, 5 and 7 year periods) to the analysis. Unfortunately it ignores (completely) too many issues that play an extremely important role in valuation. For example, the quality, background, knowledge of management, the products the company manufactures, the markets for these products, macroeconomic conditions, intellectual property, market position (i.e., oligopolistic? Is entry/exit difficult in the industry?). Not one of these issues is even touched upon!!! The authors seem to be implying that these issues are irrelevant!! Only the cash flow over the previous few years forecast forward (i.e., discounted for present value) matters according to the book!!! Perhaps this type of mentality explains why the overwhelming majority of mergers and acquistions fail!!!!
If you are looking purely for a way to use past cash flows to determine a company's "value" this is the book for you. If you are looking for a discussion of just about any other factor affecting valuation, forget it.
 Valuation Review September 30, 2008
Justin Diamond (Florida, USA)
1 out of 8 found this review helpful
The delivery took three times as long as Amazon promised and the book was damaged when I recieved it. Also, it was missing content (i.e. End of chapter questions.)
Showing reviews 1-5 of 25
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