Foundations of Economic Value Added, 2nd Edition
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Book Overview
Here is the in-depth guide to the new financial tool known as economic value-added, or EVA. It explains how and why EVA developed, and shows how corporations and analysts can use it to more accurately measure the financial performance of individual companies, industries, and economies. This book provides a concise foundation on the "economic value added" approach to both corporate finance and investment management. In corporate finance, emphasis is placed on the present value relationship between a company's expected future EVA and its current NPV, as well as the financial characteristics of wealth-creating firms, industries, and economies. In investment management, the book focuses on how to apply EVA principles to select equity securities, and to build investment opportunities in the context of the Markowitz portfolio model. Foundations of Economic Value Added was endorsed by G. Bennett Stewart III of Stern Stewart & Co., as well as senior executives in banking and investment management. The book was recently published in Japanese (ISBN4-492-55322-3).
Format:Paperback
Language:English
ISBN:1883249244
ISBN13:9781883249243
Release Date:August 1997
Publisher:Wiley
Length:136 Pages
Weight:0.45 lbs.
Dimensions:0.3" x 6.0" x 9.1"
Customer Reviews
2 ratings
Go beyond earnings, and into value-based metrics
Published by Thriftbooks.com User , 20 years ago
I took a few courses with Professor Grant at the University of Massachusetts Boston, where this was one of the required texts. I must say his courses and his texts has turned out to be most valuable and useful during my final years as a student of undergraduate finance. All of his texts were reader-friendly and insightful. Dr. Grant uses active companies in the stock market (GE, Dell, IBM) and their historical data to determine whether they are creating or destroying wealth for their shareholders and bondholders using value-based metrics like eva. His calculations in this book were especially easy to follow and understand - students of finance can relate with me if you have read some of those cryptic finance texts. I would highly recommend Dr. Grant's text to all students. And if you are a UMass Boston student, you should take his course.
This book provides readers with an independent view on EVA
Published by Thriftbooks.com User , 26 years ago
As a portfolio manager with a major NYC investment firm, it was refreshing to see Professor Grant drill down to the core concepts of EVA and its impact on market pricing. Everyone acknowledges that Stern Stewart has pushed EVA thinking forward in the corporate world but Professor Grant takes it further and shows how EVA gets priced into securities on a day-to-day basis.
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