Value-based management with corporate social responsibility:
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Oxford [u.a.]
Oxford Univ. Press
2009
|
| Edition: | 2. ed. |
| Series: | Financial management association survey and synthesis series
|
| Subjects: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017715367&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Item Description: | 1. Aufl. u.d.T.: Martin, John D.: Value based management : the corporate response to the shareholder revolution |
| Physical Description: | XII, 196 S. graph. Darst. |
| ISBN: | 9780195340389 |
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MARC
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| 245 | 1 | 0 | |a Value-based management with corporate social responsibility |c John D. Martin ; J. William Petty ; James S. Wallace |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a Oxford [u.a.] |b Oxford Univ. Press |c 2009 | |
| 300 | |a XII, 196 S. |b graph. Darst. | ||
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Record in the Search Index
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|---|---|
| adam_text | Contents
Part I Value-Based Management, Corporate
Social Responsibility, and the Purpose of the
Corporation
1
The Purpose of a Corporation
5
Adam Smith and the Invisible Hand
6
A Stakeholder Perspective
7
Valued-Based Management: A Middle Ground
8
Summary: Creating Firm Value
—
Think Valued-Based
Management
10
Appendix 1A: John Mackey and Milton Friedman on the
Goal of the Firm
13
2
The Elements of Value-Based Management
17
Wealth Creation Is Not Universal
18
The Proper Design of a V,BM Program
20
Alternative Valuation Paradigms: Earnings versus
Discounted Cash Flow
22
Connecting Business Strategies with the Creation of
Firm Value
23
Summary
24
χ
CONTENTS
3
The Need to Measure What You Want to
Manage 26
The Need for a Single Metric
27
Total Shareholder Return
29
Total Market Value
30
Accounting-Based Metrics
31
Think Economic Profits, Not Accounting Profits
32
Summary
37
Appendix
ЗА:
Accounting versus Economic ROIC
39
Appendix 3B: More Problems with Accounting-
Based Metrics
42
Part II The Finer Details of Value-Based Management
and Corporate Social Responsibility
4
Free Cash-Flow Valuation: The Foundation of
Value-Based Management
49
The Beginning for Value-Based Management: Free
Cash Flows
50
What Is Free Cash Flow?
51
Calculating a Firm s Free Cash Flow
51
Calculating the Investors Cash Flows
53
Free Cash Flow and Firm Valuation
55
Valuing the Firm: Framing the Analysis
56
Free Cash Flows, but for How Long?
56
Forecasting Free Cash Flows
57
Computing a Firm s Intrinsic Value
61
Determining the Discount Rate
63
The Value Drivers: Digging Deeper
65
Summary
68
5
Pick a Name, Any Name: Economic Profit, Residual
Income, or Economic Value Added
69
The Fundamental Concept: Residual Income or
Economic Profits
70
Residual Income and Free Cash Flow
71
An Illustration of Valuation
72
A Comparison of the Residual Income and Free Cash
Flow Approaches
75
Fine-Tuning Residual Income with EVA
75
What Is EVA?
76
Measuring a Firm s EVA
77
CONTENTS xi
Calculating
NOPAT and Capital 79
From EVA to
MVA 83
More Than a Financial Exercise
87
Summary
91
Appendix 5A: The Equivalence of the Residual Income
and Discounted Dividends Valuation Approaches
93
Appendix 5B: An Illustration of the Computation of EVA
95
Appendix 5C: Performance Evaluation Using CFROI
101
6
Corporate Social Responsibility: Putting the
S
in
Valued-Based Management
103
The Moral Argument for CSR
104
The Economic Argument for CSR
104
CSR within a VBM Framework: The Academic Evidence
106
Driving the Value Drivers
108
Red Mountain Retail Group: Creating Value through
Relationships
108
Southwest Airlines: The Employee Comes First
110
Herman Miller, Inc.: Creating Wealth through Design
and Innovation 111
Whole Foods Market, Inc.: Creating Wealth through
Whole Foods, Whole People, and Whole Planet
112
Sony Blames Economic Value Added Mentality for
Its Woes
113
Summary
116
Part III VBM Applications
7
Project Evaluation Using the New Metrics
121
Example Capital Investment Project
122
Traditional Measures of Project Value
122
Using EVA to Evaluate Project Value Creation
124
Fixing the Problem
124
Unequal Cash Flows and Positive NPV
127
Summary
127
Appendix 7A: The Equivalence of
MVA
and NPV
132
8
Incentive Compensation: What You Measure and
Reward Is What Gets Done
133
All-Too-Common Mistakes
136
Creating a Culture of Ownership
139
xii CONTENTS
Determining a Firm s Compensation Policy
142
What Should the Level of Compensation Be?
142
How Should Pay Be Linked to Performance?
143
Formula for Determining Incentive Pay
143
Single-Period Performance Measures and
Managerial Incentives
146
Managerial Decision Horizon and the Use of EVA
146
Extending Managerial Horizons
150
How Should Employee Compensation Be Structured?
151
Fairness as an Additional Characteristic of a Firm s
Compensation Policy
152
Summary
153
Appendix 8A: Whole Foods Market Executive
Compensation Discussion and Analysis
155
Part IV Lessons We Have Learned
9
Lessons Learned
163
VBM Studies Based on Archival Data
164
VBM Studies Based on Survey Data
165
Factors Critical to the Success of VBM
166
More Recent Survey Evidence
168
Current CSR Research
171
Summary
172
Epilogue: Where We Are Now
175
Notes
181
References
187
Index
193
|
| any_adam_object | 1 |
| author | Martin, John D. 1945- Petty, J. William 1942- Wallace, James S. |
| author_GND | (DE-588)124369901 (DE-588)170236005 (DE-588)171798635 |
| author_facet | Martin, John D. 1945- Petty, J. William 1942- Wallace, James S. |
| author_role | aut aut aut |
| author_sort | Martin, John D. 1945- |
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| building | Verbundindex |
| bvnumber | BV035660935 |
| callnumber-first | H - Social Science |
| callnumber-label | HD47 |
| callnumber-raw | HD47.3 |
| callnumber-search | HD47.3 |
| callnumber-sort | HD 247.3 |
| callnumber-subject | HD - Industries, Land Use, Labor |
| classification_rvk | QP 300 |
| ctrlnum | (OCoLC)272308709 (DE-599)GBV585307768 |
| dewey-full | 658 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658 |
| dewey-search | 658 |
| dewey-sort | 3658 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 2. ed. |
| format | Book |
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| id | DE-604.BV035660935 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T13:40:01Z |
| institution | BVB |
| isbn | 9780195340389 |
| language | English |
| lccn | 2008049916 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-017715367 |
| oclc_num | 272308709 |
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| owner_facet | DE-945 DE-703 DE-355 DE-BY-UBR DE-634 DE-M347 DE-188 DE-384 DE-N2 |
| physical | XII, 196 S. graph. Darst. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | Oxford Univ. Press |
| record_format | marc |
| series2 | Financial management association survey and synthesis series |
| spellingShingle | Martin, John D. 1945- Petty, J. William 1942- Wallace, James S. Value-based management with corporate social responsibility Value analysis (Cost control) Industrial management Wertorientiertes Management (DE-588)4776793-5 gnd Corporate Social Responsibility (DE-588)7697760-2 gnd |
| subject_GND | (DE-588)4776793-5 (DE-588)7697760-2 |
| title | Value-based management with corporate social responsibility |
| title_auth | Value-based management with corporate social responsibility |
| title_exact_search | Value-based management with corporate social responsibility |
| title_full | Value-based management with corporate social responsibility John D. Martin ; J. William Petty ; James S. Wallace |
| title_fullStr | Value-based management with corporate social responsibility John D. Martin ; J. William Petty ; James S. Wallace |
| title_full_unstemmed | Value-based management with corporate social responsibility John D. Martin ; J. William Petty ; James S. Wallace |
| title_short | Value-based management with corporate social responsibility |
| title_sort | value based management with corporate social responsibility |
| topic | Value analysis (Cost control) Industrial management Wertorientiertes Management (DE-588)4776793-5 gnd Corporate Social Responsibility (DE-588)7697760-2 gnd |
| topic_facet | Value analysis (Cost control) Industrial management Wertorientiertes Management Corporate Social Responsibility |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017715367&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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