Corporate Valuation or Shanghai Splendor

Corporate Valuation: A Guide for Managers and Investors with Thomson ONE

Author: Phillip R Daves

This book has two significant advantages relative to other books and software on the topic of valuation. First, the expository approach of the authors is very user-friendly, with a pedagogy designed to build confidence. They begin with a very simple, but complete example in the first couple of chapters that takes the reader through the valuation of a company. They repeat the analysis for a slightly more complicated company in chapters 3-4. A repeat of the analysis is then completed in chapters 5-8 for an even more complicated company. This iterative approach allows the reader to absorb "digestible" amounts of material before moving on to the next level of complication. The second pedagogic advantage is the structure of their spreadsheet valuation model. They show the reader how to get real world data, and how to cut-and-paste it into their spreadsheet. The spreadsheet simplifies the complex accounting found in most actual companies' financial statements and condenses it into a simplified set of standardized financial statements. This allows the user to concentrate on the fundamental economic forces that underlie a company's value.

Table of Contents:

PART I: BASIC CONCEPTS OF CORPORATE VALUATION. 1. Why Corporate Valuation? 2. A Complete Corporate Valuation for a Simple Company. Appendix 2. Comparing Bond and Stock Valuation Models with the Corporate Valuation Model. PART II: INTERMEDIATE CONCEPTS OF CORPORATE VALUATION. 3. Financial Statements and Free Cash Flow. Appendix 3. Reconciling Free Cash Flow with the Statement of Cash Flows. 4. Estimating the Value of ACME. Appendix 4. Security Valuation. PART III: PROJECTING FINANCIAL STATEMENTS. 5. Projecting Free Cash Flows. 6. Projecting Consistent Financial Statements: The Miracle of Accounting. 7. Multiyear Projections and Valuation. 8. Technical Issues in Projecting Financial Statements and Forecasting Financing Needs. PART IV: VALUING ACTUAL COMPANIES WITH THE CORPORATE VALUATION SPREADSHEET. 9. The Starting Point for Corporate Valuation: Historical Financial Statements. Appendix 9. Why We Condense the Financials. 10. The Condensed Financial Statements and Historical Analysis. Appendix 10. Mapping the Comprehensive Statements to the Condensed Statements: Advanced Issues in Measuring Free Cash Flows. 11. Estimating the Weighted Average Cost of Capital. 12. Projecting Cash Flows for an Actual Company: Home Depot. Appendix 12. Top-Down Analysis. 13. The Valuation of an Actual Company: Home Depot. Appendix 13. The Adjusted Present Value Method.

Interesting textbook: The Human Side of Organizations or History of the American Economy with Economic Applications

Shanghai Splendor: Economic Sentiments and the Making of Modern China, 1843-1949

Author: Wen Hsin Yeh

Rich with details of everyday life, this multifaceted social and cultural history of China's leading metropolis in the twentieth century offers a kaleidoscopic view of Shanghai as the major site of Chinese modernization. Engaging the entire span of Shanghai's modern history from the Opium War to the eve of the Communist takeover in 1949, Wen-hsin Yeh traces the evolution of a dazzling urban culture that became alternately isolated from and intertwined with China's tumultuous history. Looking in particular at Shanghai's leading banks, publishing enterprises, and department stores, she sketches the rise of a new maritime and capitalist economic culture among the city's middle class. Making extensive use of urban tales and visual representations, the book captures urbanite voices as it uncovers the sociocultural dynamics that shaped the people and their politics.