Quest for Value价值探寻
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作者： G. Bennett Stewart著
出 版 社：
出版时间： 1991-2-1字数：版次： 1页数： 781印刷时间：开本： 16开印次： 1纸张：I S B N ： 9780887304187包装： 精装编辑推荐
作者简介：
G. Bennett Stewart, III, is a senior partner of Stern Stewart & Co. Before co-founding Stern Stewart in 1982 with Joel Stern, he was a vice president of the financial advisory arm of the Chase Manhattan Bank. The EVA® management framework was developed by Mr. Stewart and his colleagues based on years of experience advising corporate clients on valuations, restructurings/recapitalizations, acquisitions and divestitures, and management incentive compensation plans. He is a principal speaker at Stern Stewart's EVA® seminars, and also serves as an executive editor of the firm's quarterly publication, The Journal of Applied Corporate Finance. Mr. Stewart has a M.B.A. from the University of Chicago Graduate School of Business and a B.S. in Electrical Engineering from Princeton University.
内容简介
In this bestselling classic of financial management, G. Bennett Stewart, III, raises and answers these provocative questions:
Do dividends matter?
Are earnings per share really accurate measures of corporate performance?
What is the engine that really drives share prices?
More than that, Stewart lays the foundation for EVAr, the financial management and incentive system now in place at nearly 300 companies around the world, and which is rapidly becoming the global standard for corporate governance.
Managers, confused about what investors really want, often find it difficult to reach informed decisions regarding business strategy, acquisitions and divestitures, financial structure, dividend policy, and executive compensation. But now an EVAr -based revolution is providing a practical framework that managers can use to build a premium-valued company. At the forefront of this revolution is the consulting firm of Stern Stewart & Co., of which G. Bennett Stewart, III, author of The Quest for Value, is senior partner and cofounder.
The Quest for Value is written for senior management, key operating people, and planning and financial staff. This bible of financial management will assist managers in goal setting, resource allocation, strategy development, valuation of acquisitions, financial policy setting, incentive compensation planning, and building shareholder value.
The Quest for Value cuts sharply through the myths that to this day misinform corporate strategists in their pursuit of shareholder value. Laying waste to inaccurate yet widely used methods of performance, Stewart demonstrates how the Stern Stewart EVAr approach not only creates greater shareholder value but also provides a powerful framework for the broadest range of corporate decision making.
目录
List of Exhibits
Preface by Joel M. Stern
Acknowledgments
CHAPTER 1 Introduction
PART Ⅰ Value Planning
CHAPTER 2 Market Myths
CHAPTER 3 Market Realityi
CHAPTER 4 The EVA Financial Management System
CHAPTER 5 The Stern Stewart Performance 1000
CHAPTER 6 Making Managers into Owners
CHAPTER 7 Valuation Concepts
CHAPTER 8 The Valuation Contest
CHAPTER 9 Acquisitions Pricing and Planning
PART Ⅱ Static Finance
CHAPTER 10 Financial Planning
CHAPTER 11 Financing Instruments
CHAPTER 12 The Cost of Capital
PART Ⅲ Dynamic Finance
CHAPTER 13 Financial Restructuring
CHAPTER 14 Remaking the Public Corporation from Within
PART Ⅳ The Capstone Case
CHAPTER 15 A Recipe for Reviving The Campbell Soup Company
Glossary
The Stern Stewart Performance 1000
