价值评估：公司价值的衡量与管理(第三版),327页。（To 版主：这个版本跟别人发的不一样。）

郝绍伦等译

电子工业出版社, 2002,7

本书作者皆为麦肯锡公司以前或现在的合伙人，也是该公司的财务业务领导，他们共向40个国家的400多家公司提供公司战略，兼并和收购以及价值管理等方面的服务。

价值评估被世界范围的企业金融专家誉为同类图书中最好的专著。对于公司价值的衡量，管理和最大化，本书提供了诸多真知灼见，为管理界和投资界的专业人士和学者提供了高级指导。

Valuation：Measuring and Managing the Value of Companies(Pdf)

Third Edition
McKinsey & Company, Inc.
Tom Copeland
Tim Koller
Jack Murrin

Page:508

Published by John Wiley & Sons, Inc.

PREFACE
The first edition of this book was published in 1990, yet it continues to attract readers around the
world. We believe that the book has succeeded because it is grounded in universal economic
principles. While we continue to improve and update the text as our experience grows, the
fundamental principles do not change. They are valid across time and geography.

Our message is simple: Companies thrive when they create real economic value for their
shareholders. Companies create value by investing capital at rates of return that exceed their cost of
capital. This applies equally to U.S., European, and Asian companies. It applies equally to mature
manufacturing companies and high-growth Internet companies. Only the implementation details are
different.

When companies forget these simple truths, consequences are evident: hostile takeovers in the
United States in the 1980s, the collapse of the bubble economy in Japan in the 1990s, the broad
Southeast Asian crisis in 1998, and the persistent slow growth and high unemployment in Europe.
While the underlying drivers of these events can be traced to a number of factors—most often
inappropriate government policies or structural deficiencies—the lack of focus on value creation by
managers is a key link in the chain leading to economic malaise or crisis.

We wrote this book for managers (and future managers) who want their companies to create value.

It is a how-to book. We hope that it is a book that you will use again and again. If we have done our
job well, it will soon be transformed with underlining, margin notations, and highlighting. This is no
coffee-table book.

[此贴子已经被作者于2007-1-8 11:13:20编辑过]