Valuation: Measuring and Managing the Value of Companies, University Edition

**McKinsey & Company's #1 best-selling guide to corporate valuation, now in its sixth edition** __Valuation__ is the single best guide of its kind, helping financial professionals worldwide excel at measuring, managing, and maximizing shareholder and company value. This new sixth edition provides insights on the strategic advantages of value-based management, complete detailed instruction, and nuances managers should know about valuation and valuation techniques as applied to different industries, emerging markets, and other special situations. Valuation lies at the crossroads of corporate strategy and finance. In today's economy, it has become an essential role — and one that requires excellence at all points. This guide shows you everything you need to know, and gives you the understanding you need to be effective. * Estimate the value of business strategies to drive better decision making * Understand which business units a corporate parent is best positioned to own * Assess major transactions, including acquisitions, divestitures, and restructurings * Design a capital structure that supports strategy and minimizes risk As the valuation function becomes ever more central to long- and short-term strategy, analysts and managers need an authoritative reference to turn to for answers to challenging situations. __Valuation__ stands ahead of the field for its reputation, quality, and prestige, putting the solutions you need right at your fingertips. This book contains a solid framework for valuation: analyzing historical performance, including reorganizing a company's financial statements to reflect economic rather than accounting performance; forecasting performance, with emphasis on not just the mechanics of forecasting but also how to think about a company's future economics; estimating the cost of capital with practical tips that aren't found in textbooks; interpreting the results of a valuation in light of a company's competitive situation; and linking a company's valuation multiples to the core drivers of its performance. "Valuation 6e University Edition" will contain many features and ancillaries essential to professors and students in classroom situations. Included: - New chapter content on advanced valuation techniques - Updated and fully revised case studies showing how vital valuation techniques and principles are applied in real world situations, with instructions on how to apply real option analysis to corporate valuation - End of chapter questions and review - Online instructor's manual, test bank, power point lectures, and other value-add learning materials used at major business schools such as Wharton and Georgetown