FROM THE PUBLISHER

The #1 guide to corporate valuation is now better than ever! Hailed by financial professionals worldwide asthe 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 comprehensively updated and expanded to reflect business conditions in today's volatile global economy and to provide highly effective ways for managers at every level to create value for their companies. In addition to new case studies, Valuation includes new information on: value creation and measurement,valuing Internet startups and other hyper-growth companies, valuing cyclical companies and companies in emerging markets, and calculating the cost of capital and option pricing methods to value flexibility.Here is expert guidance that management and investment professionals and students alike have come to trust, including: insights into the strategic advantages of value-based management; strategies for multibusiness valuation, and valuation for corporate restructuring, mergers, and acquisitions; international comparisons of the cost of capital and differences in accounting procedures. This timeless, prestigious book on valuation allows managers to face the crossroads where corporate strategy and finance meet with more confidence and winning strategies than ever before.McKinsey & Company, Inc. is one of the most prestigious consulting firms in the world. Its global reach stretches to dozens of countries and covers a wide array of practices. Tom Copeland is a Professor of Finance at UCLA's Anderson School of Management. Tim Koller is a partner at McKinsey & Company. Jack Murrin isSenior Vice President, Travelers, Inc., in New York.

SYNOPSIS

The University Edition of the #1 guide to corporate valuation-including end-of-chapter questions and pedagogy-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 comprehensively updated and expanded to reflect business conditions in today's volatile global economy and to provide highly effective ways for managers at every level to create value for their companies.

In addition to new case studies, Valuation includes new information on: value creation and measurement,
valuing Internet startups and other hyper-growth companies, valuing cyclical companies and companies in emerging markets, and calculating the cost of capital and option pricing methods to value flexibility.

Here is expert guidance that management and investment professionals and students alike have come to trust, including: insights into the strategic advantages of value-based management; strategies for multibusiness valuation, and valuation for corporate restructuring, mergers, and acquisitions; international comparisons of the cost of capital and differences in accounting procedures

This timeless, prestigious book on valuation allows managers to face the crossroads where corporate strategy and finance meet with more confidence and winning strategies than ever before.

McKinsey & Company, Inc. is one of the most prestigious consulting firms in the world. Its global reach stretches to dozens of countries and covers a wide array of practices. Tom Copeland is a Professor of Finance at UCLA's Anderson School of Management. Tim Koller is a partner at McKinsey & Company. Jack Murrin is Senior Vice President, Travelers, Inc., in New York.

FROM THE CRITICS

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.

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