Value based Management

Modern finance theory suggests that the primary objective of a firm should be to maximise shareholder wealth. Increasingly firms are targeting the creation of value for shareholders as their principal aim. This book examines, in a balanced and objective fashion, the recent development of VBM, the principles on which it is based and the primary techniques that it involves. It provides sophisticated analysis of existing techniques based on up to date research, and goes far beyond the various introductory and how to do it books currently available. The book is divided into four sections, each containing contributions from leading practitioners and academics in this field: The state of VBM knowledge: theory and evidence Challenging shareholder wealth maximisation Applying value based management Measuring value: critical perspectives