The #1 guide to corporate valuation 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.

Financial executives have hailed this book as the single best guide to economic value analysis. In reputation, quality, and prestige, it stands ahead of and alone in its field. Now completely revised and updated to reflect the most current business practices and conditions, Valuation delivers more potent strategies for measuring and enhancing the bottom-line value of any company. Written for those wanting to improve their ability to create value for the stakeholders in their businesses. Addresses estimating the value of alternative corporate and business strategies, assessing major transactions such as mergers, divestitures, recapitalizations, and share repurchases. DLC: Corporations--Valuation--Handbooks, manuals, etc.

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 all new case studies, Valuation now includes in-depth coverage on valuing dot.coms, cyclical companies, and companies in emerging markets, along with detailed instructions on how to drive value creation and apply real options to corporate valuation. Here is expert guidance that management and investment professionals and students alike have come to trust, including:

* Valuation's acclaimed chapter devoted to 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, differences in accounting procedures, and how valuation works in different countries * Detailed, actual case studies showing how valuation techniques and principles are applied

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

McKinsey & Company, Inc. is an international top management consulting firm. Founded in 1926, McKinsey & Company, Inc. advises leading companies around the world on issues of strategy, organization, and operations, and in specialized areas such as finance, information technology and the Internet, research and development, sales, marketing, manufacturing, and distribution.

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