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The Quest for Value: A Guide for Senior Managers
Librarian Note: Alternate cover for ISBN 0887304184
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.
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.
781 pages, Hardcover
First published January 1, 1991
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Displaying 1 - 5 of 5 reviews
April 7, 2019
The foundational text on economic value added (EVA). Helped awaken this young financial analyst to the treasures of insight—and the potential pitfalls—of economic (cost of capital)-based accounting adjustments.
Unnecessarily verbose, and I still bristle at the hubris of SS in copyrighting concepts that go back to Graham and his predecessors.
Unnecessarily verbose, and I still bristle at the hubris of SS in copyrighting concepts that go back to Graham and his predecessors.
July 20, 2017
A good introduction into financial theory.
January 20, 2008
Economic profit -- the basis of corporate performance.
October 28, 2008
Must read for those who want to understand EVA.
August 8, 2013
A materpiece!
Displaying 1 - 5 of 5 reviews