Creating Shareholder Value by Alfred Rappaport – In this substantially revised and updated edition of his business classic, Creating Shareholder Value. VBM Thought Leader: Alfred Rappaport. Creating Shareholder Value. The New Standard for Business Performance. Alfred Rappaport About Alfred Rappaport. Now, in this substantially revised and updated edition of his business classic, Creating Shareholder Value, Alfred Rappaport provides managers and.

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In sahreholder early s there were very few companies with an unambiguous commitment to shareholder value. Account Options Sign in. Strong arguments and empirical evidence is given to explain the market’s valuation mechanism.

The same commentators that just a few years ago were lambasting CEOs for underperforming against foreign competitors are now criticizing CEOs for downsizing to improve competitiveness.

Creating Shareholder Value | Book by Alfred Rappaport | Official Publisher Page | Simon & Schuster

Despite being 2 decades since the release of the 2nd edition, shareholder value creation remains the true north of what will guide businesses in building lasting value. For more than 25 years, from the first edition to this current version, this has been the Gold Standard for defining and guiding managers to creating shareholder value. The insights on acquisitions and the work on performance measurements are very important for fast-growing companies.

Now, in this substantially revised and updated edition of his business classic, Creating Shareholder Value, Alfred Rappaport provides managers and shareuolder with the practical tools needed to generate superior returns. Rappaport does a phenomenal job of bridging the gap between shareholder value theory and practice. Amazon Music Stream millions of songs. However, the critical role of the shareholder value rappapogt in allocating resources in a market-based economy is far from universally accepted.

Waldron, chairman of Avon Products, Inc. Showing of 14 reviews. A business that provides more value than customers are willing to pay for is hardly competitive — and may shqreholder even be viable. Many European governments and unions try to protect jobs by making it very costly to lay off employees.

In contrast to the significant restructuring undertaken in the United States, overstaffed companies in Japan and Germany are just beginning to acknowledge that global competition will compel them to do the same. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy. This lower price, relative to what it might be with more efficient management, offers an attractive takeover opportunity for another company, which in many cases will replace incumbent management.

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Enlightened self-interest dictates that shareholders and other stakeholders actively engage in a partnership of value creation. The only compelling takeover defense is to close the “value gap” by delivering superior shareholder value.

VBM Thought Leader: Alfred Rappaport

This view recognizes that to continue to serve all stakeholders, companies must be competitive if they are to survive. To regain its momentum, Japan will have to reestablish itself as an attractive place to invest in by lowering its costs through a combination of corporate restructuring and government deregulation.

After all, it is productivity that will provide the jobs and the tax base needed for the accomplishment of social goals that are more effectively addressed by government than by the private sector. Losses, whether taken in the name of social responsibility or due to poor decision making, come out of the pockets of retirees, workers, and other individuals who depend on management to maximize shareholder value.

A positive “value gap” was an invitation to well-financed corporate raiders to bid for the company and replace incumbent management.

Moreover, such downsizing may also adversely affect the morale and productivity of the remaining work force. Those favoring privatization argue that allowing people to invest at least a part of their retirement money in an account similar to a k or an Individual Shareholdet Account would ensure the long-term viability of the Social Security system without major cuts in benefits or increases in taxes. Providing a comparable product at a lower cost than competitors, or providing superior value to the customer through higher quality, special features, or postsale services, are not genuine advantages if the total long-term cost, including the cost of capital, is greater than the cash generated by the sale.

These factors derive from the fundamental premise that the greater the ra;paport unfavorable consequences to the manager who decreases the wealth of shareholders, the less likely it alfrwd that the manager will, in fact, act against the interests of shareholders. Indeed, we would expect that the greater the proportion of personal wealth invested in company stock or tied to stock options, the greater would be management’s shareholder orientation.

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However, the implementation of shareholder value should not be viewed sharwholder either proprietary or a sustainable advantage, because global competitors are quickly incorporating it into their planning and decision making processes as well.

Creating Shareholder Value: A Guide For Managers And Investors – Alfred Rappaport – Google Books

Fund managers competing for investors’ money will be more motivated than ever before to ride herd on underperforming CEOs with disappointing track records. Setting aside for the moment shareholder interests, do the 10 percent of employees facing layoffs merit a higher priority than the remaining employees?

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There are, however, a number of factors that induce management to act in the best interests of shareholders. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy. An active market for corporate control places limits on the divergence of interests between management and shareholders.

Creating Shareholder Value Hardcover Customers who bought this item also bought. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.

Price may vary by retailer. This led to the infamous “value gap,” i.

Please try again later. Further, Rappaport presents provocative new insights on shareholder value applications to: There was a problem filtering reviews right now. Rappaport starts the book explaining that objections rappxport using a Discounted Cash Flow model do not hold.