Valuation workbook
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Bibliographic Information
Valuation workbook
Wiley, c2015
6th ed
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Valuation workbook : step-by-step exercises and tests to help you master Valuation
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Description and Table of Contents
Description
A vital companion to the #1 best-selling guide to corporate valuation Valuation Workbook is the ideal companion to McKinsey's Valuation, helping you get a handle on difficult concepts and calculations before using them in the real world. This workbook reviews all things valuation, with chapter-by-chapter summaries and comprehensive questions and answers that allow you to test your knowledge and skills. Useful both in the classroom and for self-study, this must-have guide is essential for reviewing and applying the renowned McKinsey & Company approach to valuation and reinforces the major topics discussed in detail in the book. Fully updated to align with the sixth edition of Valuation, this workbook is an invaluable learning tool for students and professionals alike. Valuation has become central to corporate financial strategy, and practitioners must be exceptional at every aspect of the role. There is no room for weak points, and excellence is mandatory. This workbook helps you practice, review, study, and test yourself until you are absolutely solid in every concept, every technique, and every aspect of valuation as demanded in today's economy.
* Master value creation, value metrics, M&A, joint ventures, and more * Analyze historical information, forecast performance, and analyze results * Estimate the cost of capital, continuing value, and other vital calculations * Test your understanding before putting it to work in the real world Designed specifically to reinforce the material presented in the book, this workbook provides independent learners with the opportunity to try their hand at critical valuation skills, and helps students master the material so they can enter the job market ready to perform. For financial professionals and students seeking deep, comprehensive understanding, Valuation Workbook is an essential part of the McKinsey Valuation suite.
Table of Contents
About the Authors ix Introduction xi Part One Questions 1 WhyValueValue? 3 2 Fundamental Principles of Value Creation 5 3 Conservation of Value and the Role of Risk 9 4 The Alchemy of Stock Market Performance 11 5 The Stock Market Is Smarter Than You Think 15 6 Return on Invested Capital 21 7 Growth 25 8 Frameworks for Valuation 29 9 Reorganizing the Financial Statements 33 10 Analyzing Performance 37 11 Forecasting Performance 41 12 Estimating Continuing Value 45 13 Estimating the Cost of Capital 49 14 Moving from Enterprise Value to Value per Share 53 15 Analyzing the Results 57 16 Using Multiples 61 17 Valuing by Parts 65 18 Taxes 69 19 Nonoperating Items, Provisions, and Reserves 73 20 Leases and Retirement Obligations 77 21 Alternative Measures of Return on Capital 81 22 Inflation 85 23 Cross-Border Valuation 89 24 Case Study: Heineken 93 25 Corporate Portfolio Strategy 99 26 Performance Management 103 27 Mergers and Acquisitions 107 28 Divestitures 113 29 Capital Structure, Dividends, and Share Repurchases 117 30 Investor Communications 121 31 Emerging Markets 125 32 Valuing High-Growth Companies 127 33 Cyclical Companies 129 34 Banks 133 35 Flexibility 137 Part Two Solutions 1 Why Value Value? 143 2 Fundamental Principles of Value Creation 145 3 Conservation of Value and the Role of Risk 147 4 The Alchemy of Stock Market Performance 149 5 The Stock Market Is Smarter Than You Think 151 6 Return on Invested Capital 153 7 Growth 155 8 Frameworks for Valuation 157 9 Reorganizing the Financial Statements 159 10 Analyzing Performance 161 11 Forecasting Performance 163 12 Estimating Continuing Value 167 13 Estimating the Cost of Capital 169 14 Moving from Enterprise Value to Value per Share 171 15 Analyzing the Results 173 16 Using Multiples 175 17 Valuing by Parts 177 18 Taxes 179 19 Nonoperating Items, Provisions, and Reserves 181 20 Leases and Retirement Obligations 185 21 Alternative Measures of Return on Capital 189 22 Inflation 191 23 Cross-Border Valuation 195 24 Case Study: Heineken 197 25 Corporate Portfolio Strategy 203 26 Performance Management 205 27 Mergers and Acquisitions 207 28 Divestitures 209 29 Capital Structure, Dividends, and Share Repurchases 211 30 Investor Communications 215 31 Emerging Markets 219 32 Valuing High-Growth Companies 221 33 Cyclical Companies 223 34 Banks 225 35 Flexibility 229
by "Nielsen BookData"