Further, Rappaport presents provocative new insights on shareholder value of his business classic, Creating Shareholder Value, Alfred Rappaport. It’s become fashionable to blame the pursuit of shareholder value for the ills besetting corporate America: managers and investors obsessed with next quarter’s. VBM Thought Leader: Alfred Rappaport. Creating Shareholder Value. The New Standard for Business Performance. Alfred Rappaport About Alfred Rappaport.

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Such imposed costs invariably will be passed on to consumers by way of higher prices, to employees as lower wages, or to shareholders as lower returns. Managerial labor markets are an essential mechanism for motivating management to function in the best interests of shareholders.

VBM Thought Leader: Alfred Rappaport

Hence, the main audience is corporate managers but the book is equally useful to anyone on the financial m During the summer InvestingByTheBooks will review some older books that we never got around to writing about although we think they are important.

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Alex rated it it was amazing Aug 21, Even when corporate executives own shares in their company, their viewpoint on the acceptance of risk may differ from that of shareholders. On the other hand, providing customer satisfaction does not automatically translate into shareholder value. Creating Shareholder Value presents not just the basic principles and theoretical underpinnings of its subject matter but also their application through numerous well-chosen and up-to-date real-world examples.

Funds with large stock holdings have difficulty selling the shares of underperforming companies. In most cases CEOs are responding to advances brought about by stunning new technology, pressure from more efficient domestic or foreign competitors, opportunities to produce better or less costly products by outsourcing, deregulation, or simply too much capacity chasing too little demand.


The price for avoiding this necessity, however, is eventually much more painful in human and economic terms. I recommend this book to any person seriously concerned about the function of a corporation in a market economy.

Layoffs are a very painful short-term price that must be paid for remaining competitive. Losses, whether avlue in the name of social responsibility or due to poor decision making, come out of the pockets of retirees, workers, and other individuals who depend on management to maximize shareholder value.

We have a number of suppliers, institutions, shareho,der, and communities. Readers will be particularly interested in Rappaport’s answers to three management performance evaluation questions: In a market-based economy that recognizes the rights of private property, the only social responsibility of business is to create shareholder value and to do so legally and with integrity.

Creating Shareholder Value: A Guide for Managers and Investors

The theory of a market economy is, after all, based on individuals promoting their self-interests via market transactions to bring about an efficient allocation of resources. Customers demand high-quality products and services at competitive prices.

After all, it is productivity that will provide the jobs and the tax base needed for the accomplishment of social goals that are more effectively addressed by government than by the private sector. Takeovers as well as restructurings, which were management’s response to the threat of takeover, unlocked billions of dollars of value for shareholders. For corporate level executives, the question is whether performance for shareholders is the dominant criterion in assessing their value in the executive labor market.


After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value.

Creating Shareholder Value | Book by Alfred Rappaport | Official Publisher Page | Simon & Schuster

Crewting, Baxter International, Inc Dr. Many European governments and unions try to protect jobs by making it very costly to lay off employees. No eBook available Amazon. Michael is the author of Think Twice: The excesses of the lates takeover movement — payments of unwarranted acquisition premiums financed by high leverage — led to the demise of “financial” acquisitions.

Creating Shareholder Value: A Guide For Managers And Investors – Alfred Rappaport – كتب Google

Creating Shareholder Value is a short concise book. Readers will be particularly interested in Rappaport’s answers to three management performance evaluation questions: He is also affiliated with the Santa Fe Institute, rceating leading center for multi-disciplinary research in complex systems theory, and is on the board of directors of Sermo, an online community for physicians.

In a world in which principals e. Eric Connerly rated it really liked it Apr 28, To me the most interesting chapters are those where Rappaport not only links the creation of shareholder value to corporate strategy and execution but also manager evaluation and remuneration. Columbia Business School Publishing,