This expanded edition describes the valuation process, and explains the differences between valuation and accounting practices in the USA and other countries. It explains how to maximize shareholder value, demonstrates how value-based management contributes to improved strategic thinking, and shows managers at every level in any corporation how to create value for their companies.
TOM COPELAND is a partner in the New York office of McKinsey & Co., Inc. and a co-leader of the firm's corporate finance practice. He is coauthor with J. Fred Weston of Financial Theory and Corporate Policy and Managerial Finance. He received his PhD in applied economics from the University of Pennsylvania.
TIM KOLLER is a partner at McKinsey & Co., Inc. and a coleader of the firm's corporate finance practice. He was formerly a vice president at Stern Stewart & Co. and a senior financial analyst with Mobil Corporation. He received his MBA from the University of Chicago.
JACK MURRIN, a former partner and leader of the corporate finance practice at McKinsey's New York office, is Senior Vice President, Travelers, Inc., in New York. He is a Certified Public Accountant and was previously with Arthur Andersen & Co. He received his MBA from Stanford University.