000 03826nam a22004575i 4500
001 978-3-319-06847-3
003 DE-He213
005 20200420211742.0
007 cr nn 008mamaa
008 140627s2014 gw | s |||| 0|eng d
020 _a9783319068473
_9978-3-319-06847-3
024 7 _a10.1007/978-3-319-06847-3
_2doi
050 4 _aHG1-HG9999
072 7 _aKFF
_2bicssc
072 7 _aBUS027000
_2bisacsh
082 0 4 _a332
_223
100 1 _aMiko�ajek-Gocejna, Magdalena.
_eauthor.
245 1 0 _aInvestor Expectations in Value Based Management
_h[electronic resource] :
_bTranslated by Klementyna Dec and Weronika Mincer /
_cby Magdalena Miko�ajek-Gocejna.
264 1 _aCham :
_bSpringer International Publishing :
_bImprint: Springer,
_c2014.
300 _aXVII, 220 p. 47 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 _aHigh Uncertainty of Companies' Operations Versus Value Creation in VBM Systems -- Expectations in the Theory of Economics -- Investors' Expectations -- Creation of Investors' Expectations - the Role of Investor Relations and Company Information Policy -- Including Investors' Expectations in the Concept of Value Based Management -- Information Asymmetry and the Problem of Informational Efficiency on Capital Markets -- Information Asymmetry Versus Investors' Expectations and Creating Shareholder Value in Companies Listed on the Warsaw Stock Exchange -- Conclusions.
520 _aUnderstanding the process of shaping investor expectations is essential to describe and predict changes in the value of assets on the financial markets, especially stock prices on the capital markets, and thus the value of companies listed on them. The main objective of this book is to include the investor expectations in the concept of enterprise value management and measurement of shareholders value creation. It seems that the role of expectations, as a determinant of investment decisions on the capital market, requires a deep insight and highlight the importance of managing the expectations for creating value for shareholders, in particular in the context of the financial crisis of 2007-2009. Creating value for shareholders is to overcome investor expectations for the rate of return on their initial investment. That means that managers must understand how investors build their expectations. According to studies conducted by T. Copeland and A. Dolgoff'a there is a strong and statistically significant relation between the shareholders returns and the two types of variables: changes in expectations for the future earnings and changes in the level of interference of provided information. Almost 50% of the variance of return rates can be explained by these two variables. Studies have also shown that changes in expectations for long-term profits have a significant and immediate impact on the share price. Readers of this book will be able to understand the process of investor expectation formulation, will know how to create value in response to investor expectations and how to consciously shape investor expectations in order to increase company value.
650 0 _aFinance.
650 0 _aEconomic theory.
650 0 _aMacroeconomics.
650 1 4 _aFinance.
650 2 4 _aFinance, general.
650 2 4 _aMacroeconomics/Monetary Economics//Financial Economics.
650 2 4 _aEconomic Theory/Quantitative Economics/Mathematical Methods.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9783319068466
856 4 0 _uhttp://dx.doi.org/10.1007/978-3-319-06847-3
912 _aZDB-2-SBE
942 _cEBK
999 _c50728
_d50728