Against the grain : how to succeed in business by peddling heresy

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Title:

Author:

Stern, Joel M.

ISBN:

9780471216001

Personal Author:

Stern, Joel M.

Publication Information:

Hoboken, N.J. : J. Wiley, 2003.

Physical Description:

p. cm.

Contents:

Foreword / John S. Shiely -- Ch. 1. The Great Break -- Ch. 2. Beginnings -- Ch. 3. Rebel Banker -- Ch. 4. A Letter from Oppenheimer -- Ch. 5. On Our Own -- Ch. 6. How We Grew -- Ch. 7. The Key Role of Incentives -- Ch. 8. The Missionary Way of Life -- Ch. 9. Dispatches from the Sales Front -- Ch. 10. As for the Future -- Ch. 11. The Credo of a Radical Free Marketeer -- App. Heresies That Have Stood the Test of Time -- App. Let's Abandon Earnings per Share -- App. Some Thinking to Do -- App. What if Capital Markets are "Efficient"? -- App. Fewer Analysts, Please: Why People Believe Capital Markets Are "Inefficient"! -- App. Are "Technicians" an Endangered Species? -- App. Are "Fundamental" Security Analysts Necessary? -- App. Companies Should Avoid Sharp Swings in Dividends -- App. Why Dividends Do Not Matter -- App. Risk Matters.

Abstract:

"In Against the Grain: How to Succeed in Business by Peddling Heresy, Joel Stern shares for the first time, not only the story of how EVA (Economic Value Added) swept the corporate world, but the story behind the story - the intellectual underpinnings of EVA, how he and his colleagues at Stern Steward & Co. promoted the concept, won its initial acceptance by major corporations, and later turned the concept into a revolution that has continued to grip the worlds of business and finance.".

"This business memoir is about the life challenges of a driven individual. Through anecdotes and vignettes, you'll get an up-close look at Joel Stern the person and the professional - from growing up in a middle-class Jewish family in New York City to attending graduate classes with Myron Scholes and learning from teachers such as Merton Miller and Milton Friedman. You'll also see how dogged determination and an unwavering belief in his ideas led to the creation of Stern Stewart & Co. - a world-class consulting firm with offices on five continents."--BOOK JACKET.

Subject Term:

Economic value added.

Corporations -- Valuation.

Capital investments -- Decision making.

Managerial economics.

Added Author:

Ross, Irwin, 1919-

Electronic Access:

Publisher description http://www.loc.gov/catdir/description/wiley036/2003010884.html
Table of contents http://www.loc.gov/catdir/toc/wiley031/2003010884.html

Copies:

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168015722461	338.6041092 S839A 2003	1	Searching... Unknown

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Summary

The unique story of a business heretic and his concept of Economic Value Added (EVA)

In Against the Grain , Joel Stern shares for the first time, not only the story of how EVA swept the corporate world, but the story behind the story-the intellectual underpinnings of EVA, how he and his colleagues at Stern Stewart & Co. promoted the concept, won its initial acceptance by major corporations, and later turned the concept into a revolution. He has for good reason been called a one-man catalyst for change. In an engaging memoir, he has given us not only an account of his business strategy, but also provided fascinating anecdotes and vignettes of encounters with leading businessmen on four continents.

Joel M. Stern (New York, NY) has been the Managing Partner of Stern Stewart & Co. since its founding in 1982 and was coauthor of The EVA Challenge (Wiley: 0-471-40555-8). A recognized authority on financial economics, corporate performance measurement, corporate valuation, and incentive compensation, he is a leading advocate of the concept of shareholder value.
Irwin Ross (New York, NY) was retained to write The EVA Challenge with Joel Stern and John Shiely. He is a former roving editor of Reader′s Digest and over the years has written for Fortune and a variety of other magazines.