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Shareholder Value
Shareholder value is a business term, sometimes phrased as shareholder value maximization. It became prominent during the 1980s and 1990s along with the management principle value-based management or "managing for value". Definition The term "shareholder value", sometimes abbreviated to "SV", can be used to refer to: *The market capitalization of a company; *The concept that the primary goal for a company is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the stock price to increase (i.e. the Friedman doctrine introduced in 1970); *The more specific concept that planned actions by management and the returns to shareholders should outperform certain bench-marks such as the cost of capital concept. In essence, the idea that shareholders' money should be used to earn a higher return than they could earn themselves by investing in other assets having the same amount of risk. The term in this sense was introduced by Alfred Rappaport in 1986. For ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ludwig Maximilian University Of Munich
The Ludwig Maximilian University of Munich (simply University of Munich or LMU; german: Ludwig-Maximilians-Universität München) is a public research university in Munich, Germany. It is Germany's sixth-oldest university in continuous operation. Originally established in Ingolstadt in 1472 by Duke Ludwig IX of Bavaria-Landshut, the university was moved in 1800 to Landshut by King Maximilian I of Bavaria when the city was threatened by the French, before being relocated to its present-day location in Munich in 1826 by King Ludwig I of Bavaria. In 1802, the university was officially named Ludwig-Maximilians-Universität by King Maximilian I of Bavaria in honor of himself and Ludwig IX. LMU is currently the second-largest university in Germany in terms of student population; in the 2018/19 winter semester, the university had a total of 51,606 matriculated students. Of these, 9,424 were freshmen while international students totalled 8,875 or approximately 17% of the student pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discounted Cash Flow
The discounted cash flow (DCF) analysis is a method in finance of valuing a security, project, company, or asset using the concepts of the time value of money. Discounted cash flow analysis is widely used in investment finance, real estate development, corporate financial management and patent valuation. It was used in industry as early as the 1700s or 1800s, widely discussed in financial economics in the 1960s, and became widely used in U.S. courts in the 1980s and 1990s. Application To apply the method, all future cash flows are estimated and discounted by using cost of capital to give their present values (PVs). The sum of all future cash flows, both incoming and outgoing, is the net present value (NPV), which is taken as the value of the cash flows in question; see aside. For further context see valuation overview; and for the mechanics see valuation using discounted cash flows, which includes modifications typical for startups, private equity and venture capital, co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodore Levitt
Theodore Levitt (March 1, 1925 – June 28, 2006) was a German-born American economist and a professor at the Harvard Business School. He was editor of the ''Harvard Business Review'', noted for increasing the Review's circulation and popularizing the term globalization. In 1983, he proposed a definition for ''corporate purpose'': "Rather than merely making money, it is to create and keep a customer". Early life Levitt was born in 1925 in Schlüchtern-Vollmerz to a Jewish family. A decade later his family moved to Dayton, Ohio. He served in World War II, received his high school diploma through correspondence school and then earned a bachelor's degree at Antioch College, a college founded by the Christian Connection, and a PhD in economics at Ohio State University. His first teaching job was at the University of North Dakota. In 1959 he joined the faculty of the Harvard Business School. Later that year, he became well known after publishing '' Marketing Myopia'' in Harvard Bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston Consulting Group
Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three (or MBB, the world’s three largest management consulting firms by revenue) along with Bain & Company and McKinsey & Company. Since 2021, the consultancy has been led by the German executive Christoph Schweizer. History The firm was founded in 1963 part of The Boston Safe Deposit and Trust Company. Henderson had been recruited from Arthur D. Little to establish the consulting arm operating as a subsidiary under the name Management and Consulting Division of the Boston Safe Deposit and Trust Company. Initially the division only advised clients of the bank, with billings for the first month at just US$500. Henderson hired his second consultant, Arthur P. Contas, in December 1963. In 1966, BCG opened its second office in Tokyo, Japan. In 1967, Henderson met Bill Bain and offered him a role at the firm. Bai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McKinsey & Company
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and largest of the " Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. The firm mainly focuses on the finances and operations of their clients. Under the leadership of Marvin Bower, McKinsey expanded into Europe during the 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck—along with Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School's Michael Porter—transformed corporate culture. A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management. McKinsey has a notoriously competitive hiring process, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joel Stern
Joel M. Stern was chairman and chief executive officer of Stern Value Management, formerly Stern Stewart & Co, and the creator and developer of economic value added. He was a recognised authority on financial economics, corporate performance measurement, corporate valuation and incentive compensation and was a pioneer and leading advocate of the concept of shareholder value. He was also active in academia, and in the media. Career After graduating from the University of Chicago's graduate program in Finance and Economics ( MBA, Chicago-Booth, 1964), he joined the Chase Manhattan Bank where he ultimately ran Chase Financial Policy, their global consulting operation. During this time, he developed EVA. In 1982, after 18 years at Chase Manhattan, he started Stern Stewart. He is the author of two books and the co-author of six others – all in financial economics. He served as the executive editor of the ''Journal of Applied Corporate Finance'' and was a member of the editorial b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CRA International
Charles River Associates (legally CRA International, Inc.) is a global consulting firm headquartered in Boston. Practice areas Their practices include: aerospace & defense, antitrust & competition economics, auctions & competitive bidding, climate & sustainability, energy & environment, enterprise risk management, financial accounting & valuation, financial markets, financial economics, forensic services, insurance economics, intellectual property, labor & employment, life sciences, mergers & acquisitions, and transfer pricing. History CRA acquired economic consultancy firm Lexecon in 2005 to expand its practice into Europe and the United Kingdom. Marakon, which CRA acquired in 2009, forms part of their management consulting practice. Marakon Associates was founded in 1978 and pioneered value-based management (VBM) from the mid 1980s based on the academic work of Dr. Bill Alberts. This management principle, also known as managing for value (MFV), states that management should ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Consulting
Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and accessing consultants' specialized expertise regarding concerns that call for additional oversight. As a result of their exposure to and relationships with numerous organizations, consulting firms are typically aware of industry "best practices". However, the specific nature of situations under consideration may limit the ability or appropriateness of transferring such practices from one organization to another. Management consulting is an additional service to internal management functions and, for various legal and practical reasons, may not be seen as a replacement for internal management. Unlike interim management, management consultants do not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyds Bank
Lloyds Bank plc is a British retail banking, retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four (banking), Big Four" clearing house (finance), clearing banks. Lloyds Bank is the largest retail bank in Great Britain, Britain, and has an extensive network of branches and Automated teller machine, ATMs in England and Wales (as well as an arrangement for its customers to be serviced by Bank of Scotland branches in Scotland, Halifax branches in Northern Ireland and vice versa) and offers 24-hour telephone and online banking services. it had 16 million personal customers and small business accounts. Founded in Birmingham in 1765, it expanded during the nineteenth and twentieth centuries and took over a number of smaller banking companies. In 1995 it merged with the Trustee Savings Bank and traded as Lloyds TSB Bank plc between 1999 and 2013. In January 2009, it became the principal subsidiary of Lloyds ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Pierre
The Pierre is a luxury hotel located at 2 East 61st Street, at the intersection of that street with Fifth Avenue, in Manhattan, New York City, facing Central Park. Designed by Schultze & Weaver, the hotel opened in 1930 with 100+ employees, now with over a thousand. In 2005, the hotel was acquired by Taj Hotels Resorts and Palaces of India. Standing tall, it is located within the Upper East Side Historic District as designated in 1981 by the New York City Landmarks Preservation Commission. History Charles Pierre Casalasco left his father's restaurant in Ajaccio, Corsica, where he had started as a busboy, assumed Charles Pierre as his full professional name, and began work at the Hotel Anglais in Monte Carlo. Charles Pierre went on to study ''haute cuisine'' in Paris, and he later traveled to London where he met the American restaurateur, Louis Sherry, who offered him a position. After Pierre arrived in New York as a 25-year-old immigrant, he made his first mark as first as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jack Welch
John Francis Welch Jr. (November 19, 1935 – March 1, 2020) was an American business executive, chemical engineer, and writer. He was Chairman and CEO of General Electric (GE) between 1981 and 2001. When Welch retired from GE, he received a severance payment of $417 million, the largest such payment in business history up to that point. In 2006, Welch's net worth was estimated at $720 million. Early life and education Jack Welch was born in Peabody, Massachusetts, the only child of Grace (Andrews), a homemaker, and John Francis Welch Sr., a Boston & Maine Railroad conductor. Welch was Irish American and Catholic. His paternal and maternal grandparents were Irish.Jack: Straight From The Gut, () Throughout his early life in middle school and high school, Welch found work in the summers as a golf caddie, newspaper delivery boy, shoe salesman, and drill press operator. Welch attended Salem High School, where he participated in baseball, football, and captained the hockey ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael C
Michael may refer to: People * Michael (given name), a given name * Michael (surname), including a list of people with the surname Michael Given name "Michael" * Michael (archangel), ''first'' of God's archangels in the Jewish, Christian and Islamic religions * Michael (bishop elect), English 13th-century Bishop of Hereford elect * Michael (Khoroshy) (1885–1977), cleric of the Ukrainian Orthodox Church of Canada * Michael Donnellan (1915–1985), Irish-born London fashion designer, often referred to simply as "Michael" * Michael (footballer, born 1982), Brazilian footballer * Michael (footballer, born 1983), Brazilian footballer * Michael (footballer, born 1993), Brazilian footballer * Michael (footballer, born February 1996), Brazilian footballer * Michael (footballer, born March 1996), Brazilian footballer * Michael (footballer, born 1999), Brazilian footballer Rulers =Byzantine emperors= *Michael I Rangabe (d. 844), married the daughter of Emperor Nikephoros I * Mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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