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Title: EVA and Value-Based Management: A Practical Guide to Implementation by S. David Young, Stephen F. O'Byrne ISBN: 0-07-136439-0 Publisher: McGraw-Hill Trade Pub. Date: 22 November, 2000 Format: Hardcover Volumes: 1 List Price(USD): $45.00 |
Average Customer Rating: 4.67 (6 reviews)
Rating: 5
Summary: Highly Recommended!
Comment: Kudos to S. David Young and Stephen F. O'Byrne, management consultants who largely steer clear of their industry's usual empty catchphrases and superficial hype. Instead, their lucid explanation of the importance of shareholder value takes center stage. The heftiness of EVA and Value-Based Management may be daunting, but most readers will be satisfied with Part I's strategic overview. The concepts reappear in Part II accompanied by a wealth of technical details, calculations and case studies to help finance professionals with nitty-gritty implementation of EVA (Economic Value Added) programs. The book honestly assesses EVA's power to motivate managers, noting that some companies just are not well-suited for this performance metric. We from getAbstract prescribe this book to corporate executives who have overdosed on consultant jargon but still want to drive value growth in their companies, and to finance specialists who seek a comprehensive roadmap to EVA implementation.
Rating: 5
Summary: Excellent book
Comment: As an author, speaker and consultant on these topics, I highly recommend this book. Not only have the authors discussed the pros and cons of a number of approaches thoughfully and concisely, they also expand the level of understanding related to the calculations in an accessible way. Their book discusses both implementation issues and the nitty gritty of the mechanics. In sum, the book takes the reader to the next level of understanding. I highly recommend this book.
Rating: 3
Summary: Fails to keep its promise: Metric War + Compensation
Comment: This book does NOT offer 'A practical guide to valuation' but a theoretical,oldfashioned discussion of the 'Metrics War'and some empirical research on EVA, Compensation and CFROI-Fade.
My rating has got these origins: Empirical research on Compensation,EVA and CFROI-Fade: A+. Discussion of EVA/CFROI: D-. Terminology: D value for 'Hands-on-valuation': F- Structure: F- Style: F-.
This book does contain interesting empirical research on EVA etc, but it does not offer 'A practical Guide to Implementation' because it does not contain a STAGE-Approach. Its terminology differs from any other book I've read, you must often guess, which formulas the authors used, because they did not have the courtesy to express their formulas. Some formulas are wrong nad their discussion of the 'metrics war' betweenn EVA and CFROI lags 5 years behind reality. They attack old methods of CFROI,which Boston Consulting and Holt Value published 5 (!) years ago. They fail to know, that BCG have refined CVA/CFROI and that BAYER. Lufthansa,and VEBA have implemented these refined CFROI-techniques,which are way better, than the old methods, which the book attacks.
Moreover, this book is terrible to read due to a lack of structure, the absence of clear definitions, the lack of formulas, a wordy style,which exhausts your nerves, and many value judgements....
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Title: The EVA Challenge: Implementing Value Added Change in an Organization by Joel M. Stern, John S. Shiely, Irwin Ross ISBN: 0471405558 Publisher: John Wiley & Sons Pub. Date: 02 February, 2001 List Price(USD): $29.95 |
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Title: The Quest for Value by G. Bennett Stewart ISBN: 0887304184 Publisher: HarperBusiness Pub. Date: 12 February, 1991 List Price(USD): $50.00 |
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Title: Value Based Management: The Corporate Response to the Shareholder Revolution by John D. Martin, J. William Petty, William J. Petty ISBN: 0875848001 Publisher: Oxford University Press Pub. Date: 15 January, 2000 List Price(USD): $35.00 |
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Title: Foundations of Economic Value Added, 2nd Edition by James L. Grant ISBN: 0471234834 Publisher: John Wiley & Sons Pub. Date: 10 September, 2002 List Price(USD): $69.95 |
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Title: CFROI Valuation by Bartley Madden ISBN: 0750638656 Publisher: Butterworth-Heinemann Pub. Date: 08 March, 1999 List Price(USD): $79.95 |
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