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2012 | nr 4 | 109--120
Tytuł artykułu

Value Creation Through Restructuring - Key Value Drivers and Value Creation Models

Warianty tytułu
Tworzenie wartości poprzez restrukturyzację - kluczowe czynniki wartości i modele tworzenia wartości
Języki publikacji
EN
Abstrakty
EN
The subject of this paper is the methodology for value creation in companies going through the restructuring process. The approach is based on key value drivers. The definition of value, measuring value and value creation models are presented. The objective is to make the management understand how to create value through restructuring activities and decisions regarding operations, financing and investments. In order to create value, management needs to pursue strategies that raise the return on invested capital, reduce the risk, or are a combination of the two. (original abstract)
Tematem niniejszej pracy jest metodologia tworzenia wartości firm przechodzących przez proces restrukturyzacji. Podejście to jest oparte na kluczowych czynnikach wartości. Podane są definicje wartości, pomiaru wartości i tworzenia wartości. Celem pracy jest uzmysłowienie zarządom, jak można stworzyć wartość poprzez restrukturyzację oraz decyzje dotyczące operacji, finansowania i inwestowania. Aby stworzyć wartość, zarządy muszą stosować strategie, które zwiększają zwroty zainwestowanego kapitału, zmniejszają ryzyko lub są kombinacją obu strategii. (abstrakt oryginalny)
Rocznik
Numer
Strony
109--120
Opis fizyczny
Twórcy
autor
  • Chartered Financial Analyst
  • University of Belgrade, Serbia
  • University of Pitesti, Romania
Bibliografia
  • [1] Barry C.B., Muscarella C.J., Peavy J.W., Vetsuypens M.R. (1990), The role of venture capital in the creation of public companies: Evidence from the going-public process, Journal of Financial Economics, Vol. 27, Iss. 2, pp. 447-471.
  • [2] Birkinshaw J., Bresman H., Håkanson L. (2000), Managing the Post-acquisition Integration Process: How the Human Integration and Task Integration Processes Interact to Foster Value Creation, Journal of Management Studies, No. 37, pp. 395-425.
  • [3] Campbell A., Goold M., Alexander M. (1995), The Value of the Parent Company, California Management Review , Vol. 38, No. 1, Fall, pp. 79-97.
  • [4] Clark T., Allan D. (2012), Shareholder Value from Sustainability Leadership: Comparing Valuation Ratios within Industry Groups, International Research Journal of Finance and Economics, Iss. 89, April 2012, pp. 108-117.
  • [5] Copeland T., Koller T., Murrin J., Valuation: Measuring and Managing the Value of Companies, John Wiley and Sons, Inc., New York 1996.
  • [6] Crum R., Goldberg I., Restructuring and Managing the Enterprise in Transition, EDI Learning Resources Series, World Bank, Washington, D.C. 1998.
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  • [8] Čudanov M., Jaško O., Săvoiu G. (2012), Public and Public Utility Enterprises Restructuring: Statistical and Quantitative Aid for Ensuring Human Resource Sustainability, The Amfiteatru Economic Journal, Academy of Economic Studies, Vol. 14, Iss. 32, June 2012, pp. 307-322.
  • [9] Dinu E.M., Ciora C. (2012), Best Practices in Incentive Compensation from the Perspective of Value-based Management, The Amfiteatru Economic Journal, Academy of Economic Studies, Vol. 14 (31), pp. 273-285.
  • [10] Hahn G.J., Kuhn H. (2012), Designing decision support systems for value-based management: A survey and an architecture, Decision Support Systems, Vol. 53, Iss. 3, pp. 395-674.
  • [11] Hall J. (2012), Drivers Creating Shareholder Value In South African Manufacturing Firms, The Journal of Applied Business Research, Vol. 28, No. 5, pp. 1035-1048.
  • [12] Jaško O., Krivokapić J., Čudanov M. (2010), Standards of job classification as organization design tool based on Mintzberg's and Porter's theoretical assumptions, Proceedings of 7th Conference Standardization, prototypes and quality: a means of Balkan countries' collaboration, Faculty of Organizational Sciences, Belgrade, Serbia.
  • [13] Jensen M.C. (2001), Value Maximization, Stakeholder Theory, and the Corporate Objective Function, Journal of Applied Corporate Finance, Vol. 14, No. 3, pp. 8-21.
  • [14] Knight J., Value Based Management: Developing a systematic approach to creating shareholder value, McGraw-Hill, New York 1998.
  • [15] Lukac E.G., Frazier D. (2012), Linking strategy to value, Journal of Business Strategy, Vol. 33, Iss. 4, pp. 49 - 57.
  • [16] McTaggart J., Kontes P., Mankins M., Managing for Superior Shareholder Returns - The Value Imperative, The Free Press, New York 1994.
  • [17] Monnery N., Corporate Value Creation, Pitman Publishing, London 1995.
  • [18] Porter M., Competitive Advantage: Creating and Sustaining Superior Performance, The Free Press, New York 1985.
  • [19] Rappaport A., Creating Shareholder Value, Macmillan, Inc., New York 1986.
  • [20] Stamboulisa Y., Skayannis P. (2003), Innovation strategies and technology for experience-based tourism, Tourism Management, Vol. 24, Iss. 1, pp. 35-43.
  • [21] Wall F., Greiling D. (2011), Accounting information for managerial decision-making in shareholder management versus stakeholder management, Review of Managerial Science, Vol. 5, Iss. 2-3, pp. 91-135.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171220195

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