CHAPTER 12
The search for shareholder value
The aim of this chapter is to explore the concepts of shareholder value, and the various methods that are available for its measurement. Examples are given of how the value approach is applied in two British companies. The information is drawn from an original research report. The chapter shows both the advantages and the practical difficulties of applying the value approach.
In the next chapter we will explore some concepts of objectives, which may be important both in the formulation and implementation of strategy. In order to do this topic justice we need first to explore some of the modern ideas about creating shareholder value. This is an important concept and the treatment given here will be ...
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