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Her kan du finde den litteratur, som Dansk Aktie Analyse anbefaler. Nogle af disse kan købes gennem den amerikanske Internet boghandel amazon.com, ved at klikke på billedet.
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Creating Shareholder Value : A Guide for Managers and Investors / Alfred Rappaport
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 The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, Creating Shareholder Value, Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table.
The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. 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.
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Deals of the century: Mergers and the Making of Modern Ameerica
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 Book Info
Text takes an in-depth look at the most notable merger and acquisition deals of the twentieth century, and the role Wall Street played in each of them. DLC: Consolidation and merger of corporations--United States.
Book Description
Throughout history, mergers and acquisitions have been the major game played on Wall Street. The effects and by-products have had far-reaching effects, more than most commentators or financiers are publicly willing to admit.
Deals of the Century captures this dynamic moment in history by taking an in-depth look at the most notable merger and acquisition deals of the twentieth century–and the role Wall Street played in each of them. From J.P. Morgan’s acquisition of Carnegie Steel in 1901 to the creation of AOL Time Warner, renowned business historian and bestselling author Charles Geisst traces the deals that have had the most dramatic impact on the worlds of both finance and industry over the past century. Decade by decade, you’ll be introduced to the personalities behind each event, as industries are built, dismantled, and reorganized by "professionals" driven mainly by the profits extracted from the deals themselves more than by the long-term effects.
Engaging and informative, Deals of the Century paints an exciting portrait of the incredible M&A journey and illustrates how many of these deals changed the face of business, creating a modern capitalist society that continues to grow.
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EVA and Value-Based Management: A Practical Guide to Implementation / S. David Young & Stephen F. O´Byrne
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 Economic Value Added (EVA) and Value Based Management (VBM) are today's hottest management buzzwords. But written information has often been biased and clouded by the authors' hidden agendas. EVA and Value-Based Management is the first book to unflinchingly discuss the pros and cons of EVA and VBM. Covering both implementation and conceptual issues, with a strong emphasis on performance measurement, value drivers, and management compensation, it allows readers to come to their own informed conclusions.
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Financial Theory and Corporate Policy / Thomas E. Copeland, J. Fred Weston
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 Table of Contents
I. THE THEORY OF FINANCE.
1. Introduction: Capital Markets, Consumption, and Investment.
2. Investment Decisions: The Certainty Case.
3. More Advanced Capital Budgeting.
4. The Theory of Choice: Utility Theory Given Uncertainty.
5. State-Preference Theory.
6. Objects of Choice: Mean-Variance Uncertainty.
7. Market Equilibrium: CAPM and APT.
8. Pricing Contingent Claims: Option Pricing Theory and Evidence.
9. Futures Contracts and Markets.
10. Efficient Capital Markets: Theory.
II. CORPORATE POLICY: THEORY, EVIDENCE, AND APPLICATIONS.
11. Efficient Capital Markets: Evidence.
12. Capital Budgeting Under Uncertainty: The Multiperiod Case.
13. Capital Structure and the Cost of Capital: Theory.
14. Capital Structure: Empirical Evidence and Applications.
15. Dividend Policy: Theory.
16. Dividend Policy: Empirical Evidence and Applications.
17. The Economics of Leasing.
18. Applied Issues in Corporate Finance.
19. Mergers, Restructuring, and Corporate Control: Theory.
20. Mergers and Restructuring: Tests and Applications.
21. Exchange Rate Systems and Parity Conditions.
22. International Financial Management: Tests and Implications.
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Hedge Funds: Investment and Portfolio Strategies for the Institutional Investor / Jess Lederman
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 This guide provides strategies for coping with volatile returns and profiting with this exciting new asset class. Specific topics include: Profiles of major funds; Historical performance of hedge funds; Hedge funds as a part of the institutional portfolio; Selecting a hedge fund manager; Legal, tax and accounting issues.
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Irrational Exuberance / Robert J. Shiller
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 CNBC, day trading, the Motley Fool, Silicon Investor--not since the 1920s has there been such an intense fascination with the U.S. stock market. For an increasing number of Americans, logging on to Yahoo! Finance is a habit more precious than that morning cup of joe (as thousands of SBUX and YHOO shareholders know too well). Yet while the market continues to go higher, many of us can't get Alan Greenspan's famous line out of our heads. In Irrational Exuberance, Yale economics professor Robert J. Shiller examines this public fascination with stocks and sees a combination of factors that have driven stocks higher, including the rise of the Internet, 401(k) plans, increased coverage by the popular media of financial news, overly optimistic cheerleading by analysts and other pundits, the decline of inflation, and the rise of the mutual fund industry. He writes: "Perceived long-term risk is down.... Emotions and heightened attention to the market create a desire to get into the game. Such is irrational exuberance today in the United States."
By history's yardstick, Shiller believes this market is grossly overvalued, and the factors that have conspired to create and amplify this event--the baby-boom effect, the public infatuation with the Internet, and media interest--will most certainly abate. He fears that too many individuals and institutions have come to view stocks as their only investment vehicle, and that investors should consider looking beyond stocks as a way to diversify and hedge against the inevitable downturn. This is a serious and well-researched book that should read like a Stephen King novel to anyone who has staked his or her future on the market's continued success. --Harry C. Edwards
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Jack: Straight from the Gut / Jack Welch
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 Amazon.com's Best of 2001
It's hard to think of a CEO that commands as much respect as Jack Welch. Under his leadership, General Electric reinvented itself several times over by integrating new and innovative practices into its many lines of business. In Jack: Straight from the Gut, Welch, with the help of Business Week journalist John Byrne, recounts his career and the style of management that helped to make GE one of the most successful companies of the last century. Beginning with Welch's childhood in Salem, Massachusetts, the book quickly progresses from his first job in GE's plastics division to his ambitious rise up the GE corporate ladder, which culminated in 1981. What comes across most in this autobiography is Welch's passion for business as well as his remarkable directness and intolerance of what he calls "superficial congeniality"--a dislike that would help earn him the nickname "Neutron Jack." In spite of its 496 pages, Jack: Straight from the Gut is a quick read that any student or manager would do well to consider. Highly recommended. --Harry C. Edwards
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Modern Portfolio Theory and Investment Analysis
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 Book Info
This classic presents advanced concepts of investment analysis and portfolio management. Previous edition c1995.
Book Description
This book covers the characteristics and analysis of individual securities as well as the theory and practice of optimally combining securities into portfolios. Stressing the economic intuition behind the subject matter, this classic text pres-ents advanced concepts of investment analysis and portfolio management.
It can be used for courses in both portfolio theory and in investment analysis that have an emphasis on portfolio the-ory. It can also be used in a course in investments where both portfolio analysis and security analysis are discussed.
The authors' goal has been to make all the material in this text accessible to students of portfolio analysis and invest-ment management, both at the undergraduate and graduate levels while maintaining the rigor through the use of ap-pendices which can be used in conjunction with the text.
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One Up on Wall Street / Peter Lynch
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 THE NATIONAL BESTSELLING BOOK THAT EVERY INVESTOR SHOULD OWN
Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his thesis that amateur investors can continue to reap exceptional rewards from mundane, easy-to-understand companies they encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply observing business developments and taking notice of your immediate world -- from the mall to the workplace -- you can discover potentially successful companies before professional analysts do. This jump on the experts is what produces "tenbaggers," the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer.
The former star manager of Fidelity's multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company's financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast-growing companies.
Lynch promises that if you ignore the ups and downs of the market and the endless speculation about interest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever.
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Principles of Corporate Finance: with with S&P, Powerweb, Career ED Coupon, & Student CD-Rom (The Complete Package)
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 Book Description
This guide gives students a complete learning resource. It includes solutions to all Practice Problems and Challenge Problems from the text, an introduction to each chapter, key concepts, examples, chapter summaries, and chapter exercises with solutions.
Book Info
Describes the theory and practice of corporate finance. Discusses why companies and financial markets behave the way they do. CD-ROM included. DLC: Corporations--Finance.
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The Intelligent Investor: A Book of Practical Counsel / Benjamin Graham & Warren Buffet (forord)
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 Benjamin Graham, the father of value investing, was perhaps the most influential investment figure of all time. His work laid the foundation of modern security analysis, and two of his books,The Intelligent Investor (1949) and Security Analysis(1934), are investment classics that remain bestsellers to this day. His Life and work have been inspiration for many of today's most successful investors, including Warren Buffett, Michael F. Price, and John Neff.
The classic bestseller by Benjamin Graham, perhaps the greatest investment advisor of the 20th century, The Intelligent Investor has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing," which helps protect investors against the areas of possible substantial error and teaches them to develop long-term strategies with which they will be comfortable down the road.
Over the years, market developments have borne out the wisdom of Benjamin Graham's basic policies. Here he takes account of both the defensive and the enterprising investor, outlining the principles of stock selection for each, and stressing the advantages of a simple portfolio policy. Among the book's special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness.
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The Quest for Value : The Eva Tm Management Guide / G. Bennett, III Stewart & Joel M. Stern
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 G. Bennett Stewart, III, is a senior partner of Stern Stewart & Co. Before co-founding Stern Stewart in 1982 with Joel Stern, he was a vice president of the financial advisory arm of the Chase Manhattan Bank. The EVA® management framework was developed by Mr. Stewart and his colleagues based on years of experience advising corporate clients on valuations, restructurings/recapitalizations, acquisitions and divestitures, and management incentive compensation plans. He is a principal speaker at Stern Stewart's EVA® seminars, and also serves as an executive editor of the firm's quarterly publication, The Journal of Applied Corporate Finance. Mr. Stewart has a M.B.A. from the University of Chicago Graduate School of Business and a B.S. in Electrical Engineering from Princeton University.
In this bestselling classic of financial management, G. Bennett Stewart, III, raises and answers these provocative questions:
Do dividends matter?Are earnings per share really accurate measures of corporate performance?What is the engine that really drives share prices?
More than that, Stewart lays the foundation for EVAr, the financial management and incentive system now in place at nearly 300 companies around the world, and which is rapidly becoming the global standard for corporate governance.
Managers, confused about what investors really want, often find it difficult to reach informed decisions regarding business strategy, acquisitions and divestitures, financial structure, dividend policy, and executive compensation. But now an EVAr -based revolution is providing a practical framework that managers can use to build a premium-valued company. At the forefront of this revolution is the consulting firm of Stern Stewart & Co., of which G. Bennett Stewart, III, author of The Quest for Value, is senior partner and cofounder.
The Quest for Value is written for senior management, key operating people, and planning and financial staff. This bible of financial management will assist managers in goal setting, resource allocation, strategy development, valuation of acquisitions, financial policy setting, incentive compensation planning, and building shareholder value.
The Quest for Value cuts sharply through the myths that to this day misinform corporate strategists in their pursuit of shareholder value. Laying waste to inaccurate yet widely used methods of performance, Stewart demonstrates how the Stern Stewart EVAr approach not only creates greater shareholder value but also provides a powerful framework for the broadest range of corporate decision making.
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The Warren Buffett Way : Investment Strategies of the World's Greatest Investor
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 The Wall Street Journal
...an extraordinarily useful account of the methods of an investor held by many to be the world's greatest. --This text refers to the Paperback edition.
Time
It's first rate. Buffett gets a lot of attention for what he preaches, but nobody has described what he practices better than Hagstrom. Here is the lowdown on every major stock he ever bought and why he bought it. Fascinating.--John Rothchild --This text refers to the Paperback edition.
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Valuation WorkBook: Step-by-Step Exercises and Test to Help You Master Valuation
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 Editorial Reviews
Book Description
The #1 guide to corporate valuation is now better than ever! Hailed by financial professionals worldwide as the single best guide of its kind, Valuation provides crucial insights into how to measure, manage, and maximize a company's value. This long-awaited Third Edition has been comprehensively updated and expanded to reflect business conditions in today's volatile global economy and to provide highly effective ways for managers at every level to create value for their companies. In addition to new case studies, Valuation includes new information on: value creation and measurement, valuing Internet startups and other hyper-growth companies, valuing cyclical companies and companies in emerging markets, and calculating the cost of capital and option pricing methods to value flexibility. The McKinsey DCF Valuation 2000 Model CD-ROM provides a practical application of the powerful models discussed in the book. It contains preformated financial statements and analytical reports for evaluating performance and valuing projected performance using both the enterprise DCF and economic profit approaches described in Valuation. The model ensures that all important measures, such as return on invested capital and free cash flow, are calculated correctly so that the user can focus on analyzing a company's performance instead of worrying about computational errors. The model allows for three-period forecast methodology, comprising five years of detailed forecasts, ten years of summarized key driver forecasts, and a continuing value period. The model has been prepared in Excel 97.... read more
From the Back Cover
Test Your Knowledge with the Ideal Companion Workbook to the #1 Guide to Corporate Valuation!
This professional workbook and study guide is the ideal complement to the bestselling Valuation, the definitive guide to measuring, managing, and maximizing a company's value. The Valuation Workbook allows you to self-test your knowledge before putting it to work in real-world situations. A clearly organized parallel volume to Valuation, the Workbook:
* Walks you through the text, chapter by chapter
* Tests your comprehension and calculation skills with multiple choice questions and problems that help you practice applying the principles in the book
* Covers multibusiness, dot.com, bank, and insurance company valuation, as well as the ins and outs of valuing cyclical companies and option pricing methods
Along with a complete answer key, the Workbook also covers such essentials as what drives value creation, value metrics, M&As and joint ventures, valuation frameworks, how to analyze historical information, estimating the cost of capital and continuing value, forecasting performance, and calculating results. Brief chapter summaries reinforce major points.
The Valuation Workbook makes Valuation a more valuable business reference than ever before.
Please visit us at WileyValuation.com
WileyValuation.com is a premier Web site devoted to all things valuation. At this unique online community for financial professionals, you will enjoy the following features:
* New information on valuation topics and links to key valuation sites
* Valuation message boards and chats
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Valuation: Measuring and Managing the Value of Companies, 3rd Edition
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 The #1 guide to corporate valuation is now better than ever! Hailed by financial professionals worldwide as the single best guide of its kind, Valuation provides crucial insights into how to measure, manage, and maximize a company's value. This long-awaited Third Edition has been comprehensively updated and expanded to reflect business conditions in today's volatile global economy and to provide highly effective ways for managers at every level to create value for their companies. In addition to new case studies, Valuation includes new information on: value creation and measurement, valuing Internet startups and other hyper-growth companies, valuing cyclical companies and companies in emerging markets, and calculating the cost of capital and option pricing methods to value flexibility. Here is expert guidance that management and investment professionals and students alike have come to trust, including: insights into the strategic advantages of value-based management; strategies for multibusiness valuation, and valuation for corporate restructuring, mergers, and acquisitions; international comparisons of the cost of capital and differences in accounting procedures. This timeless, prestigious book on valuation allows managers to face the crossroads where corporate strategy and finance meet with more confidence and winning strategies than ever before. McKinsey & Company, Inc. is one of the most prestigious consulting firms in the world. Its global reach stretches to dozens of countries and covers a wide array of practices. Tom Copeland is a Professor of Finance at UCLA's... read more
Ingram
Financial executives have hailed this book as the single best guide to economic value analysis. In reputation, quality, and prestige, it stands ahead of and alone in its field. Now completely revised and updated to reflect the most current business practices and conditions, Valuation delivers more potent strategies for measuring and enhancing the bottom-line value of any company.
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Investor Briefing
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Investor Briefing er den publikation, hvor Dansk Aktie Analyse fokuserer på
nyhedsanalysen - der hvor vi analyserer konsekvenserne af nyhedsstrømmen.
Her tilbyder Dansk Aktie Analyse både private og institutionelle investorer
en professionel og uafhængig vurdering af det danske aktiemarked.
Investor Briefing udkommer som nyhedsbrev den anden mandag i hver måned, men
findes også på Internettet i en online-version.
Hovedpunkterne i indholdet er:
* Markedskommentarer og markedsudsigter samt briefings på væsentlige nyheder
* Modelporteføljer - søg hjælp i vores risikovillige, vores konservative og
vores "hade"-porteføljer
Med Investor Briefing vil du desuden hver måned modtage 20 analyser af
børsnoterede danske selskaber.
Klik her for at læse mere.
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