Valuation Maximizing Corporate Value phần 1 ppt

... 2003 658.4' 012 —dc 21 2002 011 1 61 Quantify the Selected Strategies 13 4 Calculate Revised Case Value 14 4 Measure Value Enhancement 15 0 Summary 15 4 CHAPTER 7 Execute for Value 15 7 Create Action Plans 15 8 Plan ... Objectives 10 8 Develop Strategies 11 3 Select Value -Maximizing Strategies 11 9 Summary 12 8 Endnotes 12 8 CHAPTER 6 Evaluate Alternative Approache...

Ngày tải lên: 14/08/2014, 05:21

... 64 77 90 10 5 12 0 Operating Profit Margin 8.0 9 .1 10.0 11 .1 12.0 10 Taxes 26 28 40 44 46 Tax Rate a 40.6 36.3 44.4 41. 9 38.3 40 Net Working Capital b 40 41 43 45 46 48 Increase 1 2 2 1 2 Increase ... Current Organization Value 47 EXHIBIT 2.5 Weighted Cost of Capital Inputs for ABC Company Input Value Risk-Free Rate of Return (Rf)8% Market Rate of Return (Rm) 14 % Beta of...

Ngày tải lên: 14/08/2014, 05:21

... Strategies 13 4 Calculate Revised Case Value 14 4 Measure Value Enhancement 15 0 Summary 15 4 CHAPTER 7 Execute for Value 15 7 Create Action Plans 15 8 Plan Implementation 17 0 Embrace Change 17 7 Execute ... Implementation 17 0 Embrace Change 17 7 Execute the Framework 18 7 Summary 18 8 Endnotes 19 0 Epilogue 19 1 Index 19 3 Contents xiii Valuation Maximizing Corpor...

Ngày tải lên: 14/08/2014, 09:21

... other, decision making is simple. For example, if one expects to invest $10 0 at the Create Action Plans 16 1 Create Action Plans 16 5 The main lesson to be learned here is that a combination of direct ... will be spent Create Action Plans 16 3 Create Action Plans 15 9 tives, and that achieving these objectives in this fashion will, indeed, increase the overall value of the organization...

Ngày tải lên: 14/08/2014, 09:21

... the market value to book Determine Relative Value 19 10 0 1 2 3 4 5 6 7 20 2 515 30 35 Return on Equity (%) BETTER WORSE ABC Company Maarket Value/ Book Value EXHIBIT 1. 11 Relative Value good source ... BB ABC Company 10 0 10 8 13 9 17 3 230 Index Industry Composite 10 0 11 5 15 0 2 01 2 61 Index Note: To convert from dollars to the index, divide yearly data by year...

Ngày tải lên: 14/08/2014, 05:21

... Discounted Cash Flows for ABC Company Year 1 Year 2 Year 3 Year 4 Year 5 Revenues 10 60.0 11 23.6 11 91. 0 12 62.5 13 38.2 Operating Profit 10 6.0 11 2.4 11 9 .1 126.3 13 3.8 Cash Flow from Operations 59.4 ... CURRENT VALUE EXHIBIT 2.2 Yearly Cash Flows for ABC Company Year 1 Year 2 Year 3 Year 4 Year 5 Revenues 10 60.00 11 23.60 11 91. 02 12 62.48 13 38.23 Operating Pro...

Ngày tải lên: 14/08/2014, 05:21

... core values. A more formal approach, often useful after an informal value- story-sharing session, involves prioritizing and rank- ing various values. One way to do this is simply to list value areas ... steps 1 : 1. Planning meeting. Information collection, process scheduling 2. Fundamentals workshop. Mission, niches, goals 3. Economic model creation. How cash flows impact organization...

Ngày tải lên: 14/08/2014, 05:21

... is shown in Exhibit 5 .1. Understand Strategic Thinking 10 3 Current Position Differentiation Time Efficiency EXHIBIT 5 .1 ABC Company Current Strategic Dimensions Position 10 4 FORMULATE SOUND STRATEGIES As ... quickly identify the key value areas important to the organization and refine them further as necessary to incorporate into the mission statement. A typical list of broad valu...

Ngày tải lên: 14/08/2014, 05:21

... Projected Cash Flows: Objective O.2 Year 1 Year 2 Year 3 Revenues 10 60.00 11 23.60 11 91. 02 Operating Profit Margin (%) 10 .50 11 .00 11 .50 Operating Profit 94.30 11 7.60 13 1.97 Less: Taxes 37.72 47.04 52.79 Increased ... Implementation Year 1 Year 2 Year 3 Revenues 10 60.00 11 23.60 11 91. 02 Operating Profit Margin (%) 10 .00 10 .00 10 .00 Operating Profit 10 6.00 11...

Ngày tải lên: 14/08/2014, 05:21

... Parts 12 .0 12 .0 12 .0 12 .0 12 .0 12 .0 ■ New Devices 12 .0 12 .0 12 .0 12 .0 12 .0 Gross Operating Profit 10 0 11 3 13 1 15 2 17 2 19 2 ■ Existing Designs 40 45 51 57 60 64 ■ New Designs 0 2 5 10 15 19 ■ Parts ... Case Value 14 5 EXHIBIT 6.6 ABC Company Revised Case Income Statement Year Year Year Year Year Year 012 345 Total Revenues a 10 00 11 04 12 49 14 1...

Ngày tải lên: 14/08/2014, 05:21