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Topic: Shareholder value

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List of business theorists

	Shareholder value as altruism
		Like anywhere in the world, retail shareholder commitment is, by the very nature of the stock market, speculative, lasting only as long as the value of the investments rise, and their buy and sell decisions are based on how much money they can earn.
		Shareholder value, in most cases, rarely exceeds the value of the daily stock quote, and the most managements can contribute here is through their public statements and quarterly results.
		All of this suggests that this overtly stated commitment to "shareholder value" is more than a little phony, a way of paying lip service to a concept that focuses on promoter enrichment with one eye on the regulatory authorities.
	in.rediff.com /money/2005/jul/14guest3.htm (913 words)

	MX (Finance - Value-Plus Management) - Mar/Apr 2002
		Total shareholder return, which is defined as dividends plus stock-price appreciation, is the benchmark used by shareholders to measure the success of a company.
		a shareholder value approach can be challenging for medtech executives, as cost structures in the medical technology industry make it difficult to identify and manage those performance measures that have the greatest effect on shareholder value.
		While the idea that companies should be managed to increase shareholder value is well accepted in both the business and investment communities, in practice medtech executives are faced with the difficult problem of how best to implement a shareholder value approach.
	www.devicelink.com /mx/archive/02/03/jackson.html (2379 words)

	Marakon Associates \| how "shareholder value" let shareholders down
		We invented the notion of "managing for shareholder value" as a discipline for running our largest public companies, and we were successful in that becoming a generally accepted mantra of any chief executive worth his or her salt.
		In the worst cases, the language of shareholder value has been used to justify exorbitant remuneration schemes and acquisitions that have enlarged the corporate power base at the expense of shareholders.
		But the problem with the shareholder value backlash is that it calls into disrepute a management discipline — growing intrinsic value — that has no known rival in terms of corporate performance, long-term wealth creation and the health of the economy.
	www.marakon.com /ida_021101_favaro_k_01.html (928 words)

	Shareholder Value
		Shareholder value is the total benefit to shareholders from investing in a company.
		The shareholder value network (Appendix A) can be used to show the influence of management decisions on shareholder value.
		The Shareholder Scoreboard (Appendix C) is annually published and focuses exclusively on performance for the investors with ranking of the rate of return.
	www.mhakel.de /Referate/shareholder.html (801 words)

	Shareholder Value Management - Management - Management Portal
		It’s important to examine the principal drivers of shareholder value to determine the impact of corporate initiatives such as investment decisions, acquisitions and divestitures, restructuring, and dividend policy on the creation or destruction of shareholder value.
		Not only is the current backlash against shareholder value misplaced, it distracts from the importance of being able to isolate those value drivers with lasting impact.
		Perhaps, although shareholder value based management is a fundamentally sound philosophy, managers do not understand the intricacies of strategy necessary in implementing such a concept.
	www.themanager.org /Knowledgebase/Management/SVA.htm (983 words)

	Shareholder value - Wikipedia, the free encyclopedia
		Shareholder value is a term used in many ways:
		Things like dividends augment shareholder value while issuing of shares (stock options) lower it.
		For a privately held company, the value of the firm after debt must be estimated using one of several valuation methods, s.a.
	en.wikipedia.org /wiki/Shareholder_value (508 words)

	Striving for Shareholder Value (Site not responding. Last check: 2007-11-01)
		Shareholder value analysis provides this type of assessment and comparison using both financial and non-financial information.
		Broadly, to create shareholder value is to embark on a journey to map day-to-day strategic actions for continuous value creation.
		Companies that are shareholder value oriented realise which activities contribute most to value.
	www.pwc.com /extweb/manissue.nsf/docid/caa336f79762c64d852569190034dd04 (998 words)

	Caplix Partners - Shareholder Value-Based Financial Planning
		It is critical to measure a company's success in creating shareholder value however "reengineering" of the financial function although greatly publicized, in practice has become a euphemism for "expense management".
		Caplix Partners believes one key element of instituting shareholder value creation as a discipline within companies is to have a set of surrogate financial metrics that supports all the major value-based approaches.
		We believe a set of financial drivers is a useful template for instilling shareholder value creation as a motivating force in any for-profit enterprise, and should be an integral part of a comprehensive value-based system.
	www.caplix.com /shareholder.html (540 words)

	Expert Project Management - Choosing the Wrong Portfolio of Projects: Part 3
		For publicly held companies, the value assigned by markets is the ultimate measure of the degree to which the company is meeting its business goals.
		A company whose stock is depressed because it is not effectively managing for shareholder value is a candidate for investor takeover.
		Market value depends not only on projected future cash flows, but also the how buyers and sellers in the marketplace perceive, among other things, the ability of the business to respond to future opportunities and avoid future threats.
	www.maxwideman.com /guests/portfolio/shareholder.htm (335 words)

	Shareholder Value Perspective (Site not responding. Last check: 2007-11-01)
		Specifically, corporations must provide a higher return on their equity capital than would be realized by the shareholders if they deposited their money on a risk-free bank account.
		Shareholder Value proponents believe that the success of an organization can be measured by things as share price, dividends and economic profit.
		The Shareholder Value philosophy is not blind for the demands placed on corporations by other stakeholders than the shareholders.
	www.12manage.com /methods_shareholder_value_perspective.html (518 words)

	Using pay-for-performance for shareholder value (Site not responding. Last check: 2007-11-01)
		While shareholders seldom have issues with executive pay levels in high-performing companies (within reasonable limits), they are likely to oppose high pay for poor performance.
		Shareholder Value Analysis helps identify non share-based measures by testing their relationship with shareholder value over time.
		Two common approaches are to measure payouts as a percentage of profit or shareholder value, and as a percentage of incremental performance improvement (e.g.
	www.mercerhr.com /referencecontent.jhtml?idContent=1204200 (758 words)

	What is Shareholder Value? - Definition
		The value of the company can be calculated as the Net Present Value of all future cashflows plus the value of the nonoperating assets of he company.
		Economic Shareholder Value is created by earning a Rate of Return on invested capital that exceeds the firm's Weighted Average Cost of Capital.
		Shareholder Value must not be mixed up with the Shareholder Value Perspective.
	www.valuebasedmanagement.net /faq_shareholder_value.html (176 words)

	Shareholder Value - Executive Summary
		Building and Communicating Shareholder Value was commissioned by Business Intelligence as part of its ongoing research programme into the latest developments and best practice thinking within the arena of business performance management and measurement.
		It explains how company leaders are under increasing pressure to deliver enhanced value from institutional investors who, in turn, are pressurized by their clients to deliver value.
		It explains why many practitioners and advisors believe that shareholder value is more effectively built through the use of strategic implementation frameworks, such as the balanced scorecard, or though systems that focus on building organizational intellectual capital.
	www.business-intelligence.co.uk /Reports/shv/summary.asp (1071 words)

	Shareholder Value Analysis (Site not responding. Last check: 2007-11-01)
		This page continues the shareholder value analysis with a listing of notes and assumptions used in conjunction with the shareholder value calculations.
		For example, a business might compute the shareholder value for both Strategy X, which includes the development of a new product for current customers; and on Strategy Y, which is based on marketing current products to new customers in new markets.
		To conclude this section on shareholder value, it is appropriate to evaluate the difference between the shareholder value of the business (based on its chosen strategy) and the current sale value of the business.
	hometown.aol.com /allplans/start/sbuplace/bupshare.htm (935 words)

	CRG Shareholder Value Creation Services for Value Based Management
		Beginning with a comprehensive value circle assessment, our aim is to inform by means of executive briefings, instruct with managerial training, interpret by using technology and actual data, and implement by providing leading-edge tools and techniques, an incentive and analytical framework, and a comprehensive communications platform.
		This methodology not only enables clients to understand the expertise required to create economic value, maximize shareholder wealth, and adopt a value-based management philosophy, but also gives executives and managers an understanding of the value drivers critical to their organization, enabling them to link corporate strategies to their own performance and compensation.
		Our value creation services team has extensive skill in the practical application of effective value creation performance measurement systems, proven experience in the development and implementation of information management systems for effective strategic decision-making, and our expertise in aiding clients to significantly improve both value creation performance and share price is acknowledged globally.
	www.crgroup.com /ManagementConsulting/Shareholder_Value_Creation.cfm (235 words)

	Shareholder - Wikipedia, the free encyclopedia
		A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company.
		Stockholders or shareholders are considered by some to be a partial subset of stakeholders, which may include anyone who has a direct or indirect equity interest in the business entity or someone with even a non-pecuniary interest in a non-profit organization.
		For example, in California, majority shareholders of closely held corporations have a duty to not destroy the value of the shares held by minority shareholders.
	en.wikipedia.org /wiki/Shareholder (325 words)

	Maximizing Shareholder Value
		Reflective of the hardened and hardening market of the time, some captive owners felt they could achieve greater shareholder value for the parent company by exposing their capital base to the risks of numerous other companies.
		It may be that a letter of credit is the clinching part of a financing arrangement for an acquisition that will lead to greater shareholder value.
		It may be able to provide the elusive cover needed to insure liabilities of a company being sold or to ‘warehouse’ liabilities of a company being acquired e.g.
	www.captive.com /service/marsh/shareholder_value.html (854 words)

	Value Building and Strategic Planning (Site not responding. Last check: 2007-11-01)
		First, let’s look at the term “shareholder value.” When we speak of a bank’s value to its shareholders, we are referring to two value-related components: financial value and franchise value.
		By financial value, we mean the bank’s capacity to produce net earnings and return those earnings to the shareholders, either in the form of cash dividends or by retention and reinvestment to produce even higher future earnings and dividends.
		Once the board understands what shareholder value is and how to measure it, it is also important that the strategic plan acknowledge the difference between building value and realizing it.
	www.wib.org /wb_articles/value_jun03/strat_plan_jun03.htm (876 words)

	Corporate Financial Strategies for Creating Shareholder Value
		Build shareholder value by strategically planning and integrating financing and investment decisions.
		Through lectures, cases, discussions, and a review of current research results, you explore important questions and help find farsighted answers as to what investments you should make, what companies you should acquire, what should be divested, and what the impact of financing strategy is on your bottom line.
		Find out who should attend Corporate Financial Strategies for Creating Shareholder Value, and what past participants have said about the course.
	www.kellogg.northwestern.edu /execed/programs/FINC01/index.htm (280 words)

	The Hidden Human Resource: Shareholder Value - Executive CIO Corporate Culture - Optimize Magazine (Site not responding. Last check: 2007-11-01)
		Shareholder returns are three times higher at companies with superior human-capital practices than at companies with weak human-capital practices.
		Few of the 750 companies that participated in the study even came close to fully capitalizing on their employees' possible impact on shareholder value (for more, see related Gap Analysis, "The Cost of Cutting Costs").
		The difference in market value between the two companies can be as much as $500 million, based solely on variations in their offerings of stock-option coverage, flexible work arrangements, and employee access to HR-service technologies.
	www.optimizemag.com /issue/008/culture.htm (1063 words)

	Shareholder Value at Any Price
		Their position is that a concentration on shareholder value is ultimately best for everyone.
		The idea that a company's most important job is to increase shareholder value began its rise to prominence in the late 1970's and early 1980's.
		Making the increase in shareholder value the most important thing is like playing basketball while you're watching the scoreboard.
	www.mondaymemo.net /030113feature.htm (1704 words)

	ITworld.com - Executive briefing: Shareholder value and outsourcing
		Outsourcing is often defined as the transfer of activities or processes to a third party for some type of benefit including cost reductions, increased efficiencies, access to flexible labor pools and ability to focus on core competencies.
		Like the chess master who touches his pieces on the left side of the board to hide the fact that his attack will be from the right, smart managers know to mention other things when asked to explain their success.
		Outsourcing can either strengthen or destroy shareholder value depending on how it is managed throughout the organizations.
	www.itworld.com /Man/2701/050128outsourcingvalue/pfindex.html (1307 words)

	Maximizing Shareholder Value-Page 2
		Each of these examples has the benefit of a significant amount of control being exercised over the risk or where this is not the case, reliable historical records exist upon which to base the risk assumption e.g.
		This is a very key area when risks are being considered for a captive and the way in which it may enhance shareholder value.
		Identifying the correct purpose and structure of the captive are important elements in the overall analysis as is deciding upon the insurance programs.
	www.captive.com /service/marsh/shareholder_value2.html (851 words)

	Shareholder Value (Site not responding. Last check: 2007-11-01)
		If it has an impact on shareholder value, you'll see it here before long.
		An executive who understands the real meaning of the term, system, is worth his/her weight in shareholder value.
		Psychological inertia is perhaps the greatest impediment to the creation of shareholder value.
	www.pdinstitute.com /shareholder_value/shareholder_value.html (3546 words)

	How to Create Shareholder Value » Nofie Iman
		The reality is that the shareholder value principle has not failed management; rather, it is management that has betrayed the principle.
		Expected value is the weighted average value for a range of plausible scenarios.
		Companies seeking to better align the interests of executives and shareholders need to find a proper balance between the benefits of requiring senior executives to have meaningful and continuing ownership stakes and the resulting restrictions on their liquidity and diversification.
	nofieiman.com /2006/09/how-to-create-shareholder-value (1907 words)

	Increase Shareholder Value with IP
		As a first step to increasing shareholder value, many General Counsels find it helpful to assess where their companies fall on the Intellectual Property Value Hierarchy.
		The Intellectual Property Value Hierarchy is a pyramid of five levels and each level represents an increased demand on the persons responsible for the company’s intellectual property.
		It is not the end of the world to realize that your company is not operating to maximize its shareholder value through intellectual property.
	www.pravel.com /increase_shareholder_value.htm (603 words)

	Finegan & Company LLC: EVA, VBM, Risk Management, and Shareholder Value Consultants
		We help clients create shareholder value through a consistent, risk-oriented approach to value-based management, incentives and capital structure — one which differentiates clients as specialized management plays — rather than generalized bets on the economy or industry.
		The world’s most competitive management teams are responding to the pressure to create value by embracing new metrics and new models for managing their companies.
		The directors of Finegan and Company chose to make creating and sustaining shareholder value the exclusive focus of their business.
	www.shareholdervalue.com (371 words)

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