Growth in Total
Return to Investors
1919
- Michigan Supreme Court ruled, in Dodge vs. Ford Motor Co., in
favor of shareholder primacy, that "A business corporation is
organized and carried on primarily for the benefit of the
stockholders. The powers of the directors are to be employed for
that end." Henry Ford and company directors had decided
not to pay a dividend, despite substantial retained earnings,
substantial profits in the particular year, so that the money
could be spent on plant expansion, Ford industrial system could
be expanded for the general benefit of society. Court ruled that
reason was not directed at the profit of the company, not a
basis for refusing to pay a dividend.
Harold Bierman, Jr. (2001). Increasing
Shareholder Value: Distribution Policy, a Corporate Finance
Challenge. (Boston, MA: Kluwer Academic Publishers, p.).
Corporate profits; Income distribution; Investments--Valuation;
Corporations--Finance; Stockholders.
Andrew Black, Philip Wright, John E. Bachman;
with John Davies (2000).
In Search of Shareholder Value: Managing the Drivers of
Performance. (New York, NY: Financial Times/Prentice
Hall, 302 p. [2nd ed.]). Corporations -- Valuation; Corporations
-- Investor relations; Investment analysis; Corporate
governance.
Eleanor Bloxham (2003).
Economic Value Management: Applications and Techniques.
(Hoboken, NJ: Wiley, 342 p.). President (Corporate Governance
Alliance). Economic value added--Management.
Peter J. Clark and Stephen Neill (2001).
The Value Mandate: Maximizing Shareholder Value Across the
Corporation. (New York, NY: AMACOM, 330 p.). Corporate
profits; Investments--Valuation; Corporations--Finance.
Al Ehrbar (1998).
EVA: The Real Key To Creating Wealth. (New York, NY:
Wiley, 234 p.). Senior Vice President, Stern Stewart & Co.
Economic value added. Author presents revealing case histories
of EVA success stories - Briggs &Stratton, the US Postal
Service, and Coca-Cola, (from mediocrity to the number one
wealth creator in the world with the addition of EVA).
William E. Fruhan, Jr. (1979).
Financial Strategy: Studies in the Creation, Transfer, and
Destruction of Shareholder Value. (Homewood, IL: R.D.
Irwin, 301 p.). Professor of Finance (Harvard Business School).
Corporations--Valuation--United States; Stocks--Prices--United
States; Corporate profits--United States; Stock transfer--United
States.
James L. Grant (2003).
Foundations of Economic Value Added. (Hoboken, NJ:
Wiley, 324 p. [2nd ed.]). Economic value added;
Corporations--Valuation; Capital productivity; Profit;
Investment analysis.
Allan A. Kennedy (2000).
The End of Shareholder Value: Corporations at the Crossroads.
(Cambridge, MA: Perseus Pub., 237 p.). Corporations--United
States--Finance; Corporations--United States--Finance--Case
studies; Stockholders--United States; Chief executive
officers--United States; Chief financial officers--United
States; Industrial management--United States--History; Corporate
culture--United States--History.
Raymond L. Manganelli and Brian W. Hagen
(2003).
Solving the Corporate Value Enigma: A System To Unlock
Shareholder Value. (New York, NY: American Management
Association, 238 p.). Corporations--Valuation;
Corporations--Growth; Corporations--Accounting; Strategic
planning; Corporate profits.
James M. McTaggart, Peter W. Kontes, Michael
C. Mankins (1994).
The Value Imperative: Managing for Superior Shareholder Returns.
(New York, NY: Free Press, 367 p.). Chairman, President, Vice
President of Marakon Associates. Corporations -- Valuation;
Corporations -- Finance.
Geoffrey A. Moore (2002).
Living on the Fault Line: Managing for Shareholder Value in Any
Economy. (New York, NY: HarperBusiness, 277 p. [rev.
ed.]). Industrial management; Stocks--Prices; Competition.
Roger A. Morin, Sherry L. Jarrell (2001).
Driving Shareholder Value: Value-Building Techniques for
Creating Shareholder Wealth. (New York, NY: McGraw-Hill,
399 p.). Corporations--Valuation; Industrial management;
Economic value added; Corporate profits; Corporations--Growth;
Stocks--Prices; Stockholders.
Alfred Rappaport (1988).
Creating Shareholder Value: A Guide for Managers and Investors.
(New York, NY: Free Press, 205 p. [rev. and updated]. Professor
of Accounting (Northwestern University).
Corporations--Valuation; Stocks--Prices; Corporate profits;
Investments--Accounting.
Mark C. Scott (1998).
Value Drivers: The Manager's Framework for Identifying the
Drivers of Corporate Value Creation. (New York, NY:
Wiley, 261 p.). Corporations--Valuation; Corporate profits.
Adrian J. Slywotzky (1996).
Value Migration: How to Think Several Moves Ahead of the
Competition. (Boston, MA: Harvard Business School Press,
327 p.). Corporations--Valuation.
Roy C. Smith and Ingo Walter (1997).
Street Smarts: Linking Professional Conduct with Shareholder
Value in the Securities Industry. (Boston, MA: Harvard
Business School Press, 351 p.). Securities industry -- United
States.
Joel M. Stern and John S. Shiely, with Irwin
Ross (2001).
The Eva Challenge: Implementing Value-Added Change in an
Organization. (New York, NY: Wiley, 250 p.). Economic
Value Added
G. Bennett Stewart III (1991).
The Quest for Value: A Guide for Senior Managers. (New
York, NY: HarperBusiness, 781 p.). Corporations--Valuation; Cash
flow.
S. David Young and Stephen F. O'Byrne (2001).
EVA and Value Based Management: A Practical Guide to
Implementation. (New York, NY: McGraw-Hill, 493 p.).
Economic value added; Corporations--Valuation; Capital
investments--Decision making; Managerial economics; Industrial
management.
_________________________________________________________________________________
Berkshire Hathaway Inc.: Shareholder
Letters
http://berkshirehathaway.com/letters/letters.html
CEO Warren Buffett's annual letters to the shareholders of the
Berkshire Hathaway company, going back to 1977. These letters
are considered essential reading by investors and frequently
assigned as homework for business school students. Not
searchable. Subjects: Buffett, Warren | Finance, Personal |
Capitalists and financiers | Investments.
