Valuation l Tom Copeland

This book describes the valuation process and explains the differences between valuation and accounting practices in the United States and those in other countries. It illustrates how to take advantage of the American tradition of maximizing shareholder value, demonstrates how value–based management contributes to improved strategic thinking, and shows managers at every level in any corporation how to create value for their companies. In addition, this book provides:
· Insights into the strategic advantages of value–based management Strategies for multibusiness valuation, valuation of international businesses, and valuation for corporate restructuring, mergers, and acquisitions;
· International comparisons of the cost of capital, differences in accounting procedures, and how valuation works in different countries;
· A detailed case study showing how valuation techniques and principles are applied.
Truly the crossroads where corporate strategy and finance meet, this book contains the latest information on new ways to apply valuation and value–based management to maximize any company's appeal to investors and other capital services.

Real Options l Tom Copeland

Tom Copeland and Vladimir Antikarov offer the first practical tool explaining the latest state–of–the–art thinking sweeping the corporate world: real options. Utilizing real options can transform the shifting business landscape into a strategic weapon by creating flexibility in decision making. Given the volatility of the new economy, real options are set to become the key management tool for today's businesses. In this book, the authors offer corporate decision makers the ability to assess the profitability of their ventures and decide which avenue of expansion or investment to go down and, crucially, when to take that leap. The authors take the reader on a journey through real options, from the basics of what they are and how to implement the ideas, through to more advanced topics such as options and game theory, and managing portfolios of options. Real Options provides expert guidance on how to implement the theory to maximize investment opportunities by utilizing uncertainty as an asset and reducing downside risk.