Value Based Management At Dax Listed Companies
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Value Based Management At Dax Listed Companies
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Author : Alexander Gã¶Rke
language : de
Publisher: Grin Publishing
Release Date : 2011-03
Value Based Management At Dax Listed Companies written by Alexander Gã¶Rke and has been published by Grin Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03 with categories.
Bachelor Thesis from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of Applied Sciences Essen, language: English, abstract: 1.3 Scope of Work The thesis is divided into two main parts. In the first part, the theoretical background of value-based management is explained in detail. First, the reasons are pointed out why traditional key figures are not suitable to measure the corporate success and as a result, why value-based concepts are used. Subsequently, the methodologies for the determination of a company's cost of capital and for corporate valuation are presented in detail. The consideration of both the cost for equity capital and debt capital add the element of risk to determine the actual performance. This knowledge is the basis for multi-period value-based planning. Secondly, the most common approaches based on this theoretical background are introduced and elaborated. They integrate the key target of increasing the corporate value sustainably in the long term as a business philosophy which creates a holistic framework of action for the diverse tasks within a company. The second part brings to light, which companies of the thirty companies listed in the DAX are reporting a value-based management approach and further, which approaches these companies have implemented. As the parameters on which the calculation is based differ and are defined in different ways by the companies analyzed, these figures are surveyed. Even though not all companies which are using a value-based approach do report information about it in their annual reports or in other publications, especially the annual reports give information about the extent of spread. Literature is taken into account up to January 1, 2011. The two last annual reports including IFRS financial statements are considered for the analysis which were published by all companies listed in the DAX at that date.
Value Based Management
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Author : John D. Martin
language : en
Publisher: Oxford University Press, USA
Release Date : 2000
Value Based Management written by John D. Martin and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
The corporate world's comeback to shareholder revolt, value based management refers to tools that financial managers can use to plan, monitor, and control a firm's operations in ways that enhance shareholder value. This timely book provides the first objective, field-tested synthesis of the most popular models in use today.
Value Based Management
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Author : James Atwood Knight
language : en
Publisher: McGraw-Hill Companies
Release Date : 1998
Value Based Management written by James Atwood Knight and has been published by McGraw-Hill Companies this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
Value Based Management brushes aside the often-confusing amalgam of quick-fix management potions, and gives you tested tips and strategies designed to turn your company into an equity-enhancing machine. This long-awaited book describes how, once you have seen and tried the hundreds of different management theories that abound today, one goal will always remain: Enhancing Shareholder Value. Companies that focus on creating and building value become focused, goal-oriented, and successful at building the powerful business machines that are required in todayÕs give-no-quarter competitive environment. Performance measurement consultant James A. KnightÕs eye-opening book provides convincing proof that strategies designed to maximize shareholder value can benefit everyone involved. With its clear-cut diagrams, explanations, and case histories, Value Based Management demonstrates how every decision your management team makes can consistently create shareholder value. Its comprehensive benefits include a clear definition of the nature of corporate value, and how the act of enhancing it can create positive reverberations throughout the entire company; examples of companies that have successfully managed for value and how they have done it, alongside examples of companies that failed to manage for value and how you can avoid their pitfalls; and explanations of how Value Added Management creates the optimal balance between short and long term decisions, and helps your managers balance the trade offs between improved levels of profit and greater growth. Like so many journeys, the toughest step when focusing your company on Value Management is the first step. Take that first step today! Read Value Based Management, focus on the strategy and business questions it raises, then think about how its solutions can be tailored to fit your company. Once you have begun to implement Value Based Management your shareholders, along with your customers and employees, will recognize and reap the profitable benefits of a value based corporate mindset.
Driving Shareholder Value Value Building Techniques For Creating Shareholder Wealth
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Author : Roger A. Morin
language : en
Publisher: McGraw Hill Professional
Release Date : 2000-12-27
Driving Shareholder Value Value Building Techniques For Creating Shareholder Wealth written by Roger A. Morin and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-12-27 with Business & Economics categories.
BusinessWeek and Harvard Business Review tout value-based management as the benchmark for creating and enhancing shareholder value. Numerous industry-leading companies embrace VBM. Now Driving Shareholder Value travels to the heart of VBM, providing approaches, perspectives, and strategies managers can use to implement VBM for better decisions and maximized shareholder wealth. The authors’ one-of-a-kind value creation framework—complete with dozens of useful worksheets, checklists, case studies, and more—draws on current practices plus 25 years of VBM lessons, including: *The four guiding principles of VBM activities *Five steps to institutionalizing VBM *An integrative VBM framework—complete with step-by-step examples
Value Based Management With Corporate Social Responsibility
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Author : John D. Martin
language : en
Publisher: Oxford University Press
Release Date : 2009-08-19
Value Based Management With Corporate Social Responsibility written by John D. Martin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-19 with Business & Economics categories.
As the first decade of the 21st century winds down we have seen a sea change in society's attitudes toward finance. The 1990s can best be described as the decade of shareholder supremacy, with each firm trying to outdo the other in their allegiance to shareholder value creation, or as it came to be known, Value-Based Management (VBM). No one seemed to question this culture as the rising firm valuations translated into vast wealth creation for so many. Three significant economic events have reshaped how the public feels about an unbridled devotion to VBM and have defined the last decade: the dot.com bubble in 2000, the infamous accounting scandals of 2001, and the collapse of the credit markets in 2007-2008. In all three of these events the CEOs were portrayed as reckless and greedy and Wall Street went from an object of admiration to an object of scorn. The first edition of this book, Value Based Management: The Corporate Response to the Shareholder Revolution was written to help explain the underpinnings of Value-Based Management. At the time of its publication, few questioned whether the concept was the proper thing to do. Instead, the debate was focused on how to implement a VBM program. With this new second edition, the authors look at VBM after having seen it through good times and bad. It is not their intent to play the blame game or point fingers. Nor is it their intent to provide an impassioned defense of VBM. Instead they provide an academic appraisal of VBM, where is has been, where it is now, and where they see it going.
Investor Expectations In Value Based Management
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Author : Magdalena Mikołajek-Gocejna
language : en
Publisher: Springer
Release Date : 2014-06-27
Investor Expectations In Value Based Management written by Magdalena Mikołajek-Gocejna and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-27 with Business & Economics categories.
Understanding the process of shaping investor expectations is essential to describe and predict changes in the value of assets on the financial markets, especially stock prices on the capital markets and thus the value of companies listed on them. The main objective of this book is to include the investor expectations in the concept of enterprise value management and measurement of shareholders value creation. It seems that the role of expectations, as a determinant of investment decisions on the capital market, requires a deep insight and highlight the importance of managing the expectations for creating value for shareholders, in particular in the context of the financial crisis of 2007-2009. Creating value for shareholders is to overcome investor expectations for the rate of return on their initial investment. That means that managers must understand how investors build their expectations. According to studies conducted by T. Copeland and A. Dolgoff'a there is a strong and statistically significant relation between the shareholders returns and the two types of variables: changes in expectations for the future earnings and changes in the level of interference of provided information. Almost 50% of the variance of return rates can be explained by these two variables. Studies have also shown that changes in expectations for long-term profits have a significant and immediate impact on the share price. Readers of this book will be able to understand the process of investor expectation formulation, will know how to create value in response to investor expectations and how to consciously shape investor expectations in order to increase company value.
Value Based Management
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Author : Gary Ashworth
language : en
Publisher: FT Prenticehall
Release Date : 2001
Value Based Management written by Gary Ashworth and has been published by FT Prenticehall this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Corporations categories.
Delivering shareholder value is at the top of every board's agenda. However, whilst the creation and delivery of shareholder value has become a central business mantra, too often the focus is on a few key value-based metrics that in themselves deliver little real and lasting business benefit. Value-based management provides an appropriate external and internal communication information framework to help companies' strategic thinking on how value will be created and delivered. With the economy and markets evolving at an ever-faster rate, fresh challenges are emerging on how to recognise, measure and manage value. This briefing considers these challenges and puts forward a blueprint for how they should be addressed from a value creation perspective. It offers a practical toolkit for achieving value-based management, backed up with comprehensive case studies and diagrams to enforce key learning points.Contents include: Value-based management: The full perspective Value metrics as an essential element of VBM Value creation from a strategic corporate perspective Value recognition Value alignment Value creation from the internal delivery perspective Value management Value delivery in the new e-economies
Value Based Performance Measures
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Author : Nils Eikelmann
language : en
Publisher: Springer Nature
Release Date : 2020-08-19
Value Based Performance Measures written by Nils Eikelmann and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-19 with Business & Economics categories.
Nils Eikelmann describes the framework conditions for the application of value-based performance measures and critically analyses selected ones. The disclosure of value-based performance indicators is important in order to demonstrate the successful management of a company and to satisfy the increasing information needs of investors. However, companies adapt the developed theoretical concepts of value-based performance measures to their practical needs and thus investors are no longer able to compare the performance of companies. In addition, there is a variety of different metrics from which companies can choose. The empirical study aims to reduce existing research gaps and is divided into three parts: the analysis of annual reports of selected European companies, the calculation of a standardised value-based performance measure and a value relevance study in the form of an association study.
In Search Of Shareholder Value
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Author : Andrew Black
language : en
Publisher: Financial Times/Prentice Hall
Release Date : 2001
In Search Of Shareholder Value written by Andrew Black and has been published by Financial Times/Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Shareholder value can no longer be seen as the latest craze in the corporate classroom. It's grown up. It's redefining the syllabus by which we learn to profit or perish. It has moved into the mainstream of global corporate life where would-be winners can no longer afford to ignore it.Drawing on the experience of PricewaterhouseCoopers' worldwide network of companies and clients, this new edition of a best-selling title will provide you with the key to unlocking the secrets to real wealth creation. The impact of the information revolution, the integration of capital markets, and the increased ability of investors to compare and contrast corporate performance has put shareholder value high on the corporate agenda. These days, investors injecting money into your company are looking for a financial return as good as, if not better than, if they had invested in any other. Today's businesses need to maximize value for their shareholders or watch their share price plummet as investors vote with their feet and transfer their money and their trust into competitors' hands.Benefits In Search of Shareholder Value explains the concept of shareholder value and shows how it can help companies and their managers make better, more informed, and proactive decisions. It looks at the philosophy of value creation and at the global financial environment in which value-based management can thrive, and it transforms the insights of market analysts into management tools that can be used throughout the company to add genuine improvements to performance. The book covers every aspect of learning how to deliver value to your investors, including: introducing the basic concepts of shareholder value analyzing the theory and history behind shareholder value establishing the true cost of your capital the market's preference for judging performance on cash flow rather than profit and loss how shareholder value is being applied within emerging economies. principels of value-based management
Handbook Utility Management
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Author : Andreas Bausch
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-07-07
Handbook Utility Management written by Andreas Bausch and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-07 with Business & Economics categories.
Along with the increasing deregulation of European utility markets the dynamics of and the competitive pressure in the utility industries have steadily increased over the last years. These changes in the regulatory framework towards an integrated market environment have resulted in new challenges for the management of power and gas companies and in a substantial need for strategic reorientation. In the context of these developments the Handbook Utility Management reflects current challenges in the utility industries and provides solutions from a managerial perspective. The inclusion of latest insights from top managers, renowned researchers, professionals in utility-related investment banking and consulting, and professionals in public and supranational organizations on all value chain activities within the industry makes the Handbook an indispensable asset for both professionals and researchers.