Master the latest developments in value based management, investment and regulation
04 Mar 04

The value of corporations underpins our future.  From financial reporting to pensions, valuation techniques affect all of us. Yet, as recent examples of corporate failure have shown, and continue to show, the consequences of ?getting it wrong? are enormous.   Companies close, people lose their jobs, and millions of units of value are wiped out from savings. Confidence in the financial system is shaken.


Representing an attempt to push the debate forward, in the pursuit of improved reporting and corporate governance standards, this book does not pretend to have complete answers.  It does raise questions about the topical and important issues affecting the value of companies and how value is and could be determined.


Questions of Value assembles a number of disparate strands of thinking that rarely come together - as if a river has divided a town into two communities leading separate and distinct lives.  On one shore is the financial market community; on the other side are the corporate managers, who spend most of their time suspicious of what their counterparts on the opposite shore get up to. The book provides a bridge connecting the two sides of the river, with the traffic of various arguments flowing across it in both directions.


Here expert investment managers, economists, consultants, corporate managers, former bankers, academics, and IT experts write about how they see developments in value-based management, corporate strategies, investment decisions, IT investment, financial reporting and the future shape of accounting. 


The views expressed here are far from uniform, but they tend in the direction that changes in financial reporting regulations are desirable and that these changes should focus more on cash flow measures.  It is also argued that had such changes been implemented, some of the recent crises could have been reduced in severity.


After this rich diet, we hope that the reader will have crossed the ?bridge? several times and will have begun to get a better understanding of some of the serious issues currently exercising the minds of the regulators, financial analysts and commentators. 


Philip Wright of PricewaterhouseCoopers said ?This book makes an important contribution to the debate and to understanding the issues involved.?


Contributors include:

  • Paul Lee, Hermes Investment Management
  • Jose Arau, California Public Employees? Retirement System (CalPERS)
  • Elizabeth Legge, Building Value Associates and Weavering Capital
  • Alison Thomas, PricewaterhouseCoopers
  • Andrew Black, Building Value Associates
  • Colin Clubb, Imperial College London
  • Richard Bassett, Managing Director of Value Analytix
  • Mark Storrie, Chief Technology Officer and co-founder of Value Analytix
  • David Gee, Strategic and Financial Consultant
  • JA Barbour Corporate Value Improvement
  • Mark Sirower, Boston Consulting Group
  • Erik Ottosson, Anelda
  • Fredrik Weissenrieder, Anelda  

Questions of Value was published by Financial Times Prentice Hall in December 2003, RRP £40.00.


Buy before March 31st for a 10% discount off the RRP!


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The article above was written by the author of this book, Andrew Black.

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