The Quest For Value: A Guide For Senior Managers Download Free (EPUB, PDF)
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.
Hardcover: 800 pages
Publisher: HarperCollins Publishers; First Edition, 1st Printing edition (January 1, 1991)
Language: English
ISBN-10: 0887304184
ISBN-13: 978-0887304187
Product Dimensions: 6.1 x 2.1 x 9.2 inches
Shipping Weight: 2.8 pounds (View shipping rates and policies)
Average Customer Review: 4.2 out of 5 stars See all reviews (24 customer reviews)
Best Sellers Rank: #453,521 in Books (See Top 100 in Books) #61 in Books > Business & Money > Finance > Corporate Finance > Valuation #524 in Books > Business & Money > Management & Leadership > Strategy & Competition #3349 in Books > Business & Money > Small Business & Entrepreneurship > Entrepreneurship
I was introduced to The Quest for Value during my MBA program. The material covered in the book was the basis for my Finance course, and I purchased the book to examine the source material. Finance is a branch of Economics, not Accounting, and many of the assertions made by Stewart reflect that fact. Familiarity with the basics of Microeconomics will greatly facilitate an understanding of the concepts described in the book. The fact that Stewart's work builds on sound economic concepts should be considered a strength, and not a weakness. The fact that other investment valuation tools do not conform to standard economic theory (Asset-Based, Excess Earnings, etc.) is the primary weakness of those theories. Investors are generally concerned only with prospective cash flows and the risks associated with those cash flows. The EVA Model captures the essential factors determining return and risk, removing Accounting distortions, and allows managers, owners, and other stakeholders to make informed decisions. Portions of the EVA Model have been integrated into other valuation tools, but usually in a piecemeal fashion. The genius of the EVA Model is the consolidation of many useful theories into a single model. A word of caution. If you are planning to use the EVA Model to "beat the market", please read the book. Stewart, Merton Miller, Damodaran and others are strong believers in the efficient-market theory, which essentially refutes the notion that tools like the EVA Model can be used for such purposes. As far as the general acceptance of Stewart's theories, it has been my experience that most corporate Finance departments are run by Tax Accountants with a limited/non-existent knowledge of the economic principles espoused by Stewart.
The Quest for Value: A Guide for Senior Managers The Definitive Executive Assistant and Managerial Handbook: A Professional Guide to Leadership for all PAs, Senior Secretaries, Office Managers and Executive Assistants Mastering Automotive Digital Marketing: A training guide for Dealer Principals, General Managers, and Digital Marketing Managers Financial Management for Nurse Managers and Executives, 4e (Finkler, Financial Management for Nurse Managers and Executives) Creating Shareholder Value: A Guide For Managers And Investors Ty Plush Animals: Collector's Value Guide: Secondary Market Price Guide and Collector Handbook (Collector's Value Guide Ty Plush Animals) Value-Added Decision Making for Managers Corporate Value Creation: An Operations Framework for Nonfinancial Managers (Wiley Corporate F&A) The Barbie Doll Years: A Comprehensive Listing & Value Guide of Dolls & Accessories (Barbie Doll Years: Comprehensive Listing & Value Guide of Dolls & Accessories) Coin World 2014 Guide to U.S. Coins: Prices & Value Trends (Coin World Guide to Us Coins, Prices & Value Trends) Lean Six Sigma: Value Stream Mapping: Simplified Beginner's Guide to Eliminating Waste and Adding Value with Lean (Lean, Six Sigma, Quick Start Beginner's Guide, Quality Control) Algonquin Spring: An Algonquin Quest Novel (An Algonguin Quest Novel) I Am Algonquin: An Algonquin Quest Novel (An Algonguin Quest Novel) Elephant Quest Elephant Quest (Adventures Around the World) Lean Six Sigma: Value Stream Mapping: Simplified Beginner's Guide to Eliminating Waste and Adding Value with Lean Value Drivers: The Manager's Guide for Driving Corporate Value Creation Switching to Windows Vista for Seniors: A Guide Helping Senior Citizens Move From XP to Vista (Computer Books for Seniors series) The Border Collie: Your Essential Guide From Puppy To Senior Dog (Best of Breed) The Living Well Guide for Senior Dogs: Everything You Need to Know for a Happy & Healthy Companion Keep It Simple Senior Life Insurance Guide
