File Size: 1150 KB
Print Length: 400 pages
Publisher: Harvard Business Review Press (October 25, 2011)
Publication Date: October 25, 2011
Sold by: Digital Services LLC
Language: English
ASIN: B0064C4X6K
Text-to-Speech: Enabled
X-Ray: Not Enabled
Word Wise: Not Enabled
Lending: Not Enabled
Enhanced Typesetting: Not Enabled
Best Sellers Rank: #478,444 Paid in Kindle Store (See Top 100 Paid in Kindle Store) #98 in Books > Business & Money > Finance > Corporate Finance > Valuation #334 in Kindle Store > Kindle eBooks > Business & Money > Investing > Stocks #764 in Kindle Store > Kindle eBooks > Business & Money > Management & Leadership > Management > Management Skills
This is a solid book. It's not an investor relations handbook but rather an experienced professor giving advice to CEOs and corporate managers on how to view and handle the stock market. Baruch Lev is a professor in accounting and finance at Stern School of Business. He has also held positions at the University of Chicago, the Hebrew University of Jerusalem, Tel Aviv University and Berkeley. With five books and over a hundred published studies in leading journals, Lev is a very seasoned advisor to have by your side. The chapters are structured into three main parts where the author first discusses how to handle investor related emergencies such as when results miss consensus earnings, informing investors of adverse news etc. Secondly, Lev addresses the topic of how to earn the trust of investors and finally a number of real or perceived conflicts between owners and managers are analysed. The latter two parts are better than the first.Out of the text's many discussions I think I appreciated the one on how to handle corporate social responsibility (CSR) issues the most. Managers or not, most people strive to follow the informal motto of Google; "don't be evil" and within the corporate sector, as the author points out, the CSR movement has won the battle of ideas. Hence CSR issues must be addressed by management. At the same time the thought that companies should serve all stakeholders, not only shareholders, poses a problem. As professor Michael Jensen so eloquently puts it "It is logically impossible to maximize in more than one dimension at the same time ... whereas [shareholder] value maximization provides corporate managers with a single objective, stakeholder theory directs corporate managers to serve `many masters.' And ... when there are many masters, all end up being shortchanged.
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