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Wertorientierte Unternehmensführung: Möglichkeiten und Grenzen der Implementierung externer Erfolgsmaße

Wertorientierte Unternehmensführung: Möglichkeiten und Grenzen der Implementierung externer Erfolgsmaße

          
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About the Book

Inhaltsangabe: Einleitung: Wertorientierte Unternehmensführung als ein im deutschsprachigen Wirtschaftsraum seit Anfang der neunziger Jahre diskutiertes Konzept beschreibt die Forderung nach einer verstärkten Ausrichtung der Unternehmensführung am Shareholder Value. Verstanden als Finanzgröße obliegt die kalkulatorische Bestimmung des so bezeichneten Marktwertes des Eigenkapitals klassisch den traditionellen Verfahren der Unternehmensbewertung. Diese stellen auf die Ermittlung des „Barwert[es] aller dem Investor in Zukunft zufließenden Nettoeinnahmen" ab. Die periodische Erfolgsbeurteilung indes wird klassisch auf Basis von Daten des externen Rechnungswesens (externe Erfolgsmaße) vorgenommen. Die mangelnde Verbindung der traditionellen Verfahren der Unternehmensbewertung mit der periodischen Erfolgsbeurteilung ist Ansatzpunkt sogenannter kombinierter Bewertungsverfahren, die „auf einem Maßstab zur periodenbezogenen Erfolgsbeurteilung bzw. Performancemessung [...] beruhen" und „unter Berücksichtigung von Prognosen in einen Unternehmens- oder Aktienwert überführt" werden können. Verschiedene Unternehmensberatungen haben Konzepte zur Ausgestaltung eines solchen Performancemaßstabes entwickelt und mit dem Anspruch einer Komplettlösung für wertorientiertes Management sehr effektiv vermarktet. Als wohl bekanntestes Beispiel sei das Economic Value Added (EVA) Financial System der US-amerikanischen Managementberatung Stern Stewart & Co. angeführt. Seitdem setzt sich die Literatur kritisch und kontrovers mit diesen Konzepten und deren wissenschaftlicher Fundierung auseinander. Ziel der vorliegenden Arbeit ist es zunächst, eine vergleichende Darstellung der in der Diskussion stehenden Konzepte vorzunehmen. Desweiteren setzt sich dieser Beitrag mit den beiden wesentlichen Ansprüchen vieler Konzepte auseinander. Der erste Anspruch, die entsprechende wertorientierte Kennzahl bilde den Shareholder Value respektive die Aktienrendite vernünftig ab, wird dahingehend überprüft, inw


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Product Details
  • ISBN-13: 9783838652764
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 12 mm
  • Weight: 281 gr
  • ISBN-10: 3838652762
  • Publisher Date: 03 Apr 2002
  • Height: 210 mm
  • No of Pages: 208
  • Series Title: German
  • Sub Title: Möglichkeiten und Grenzen der Implementierung externer Erfolgsmaße
  • Width: 148 mm


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