Tim Koller, Marc Goedhart, David Wessels. Valuation: Measuring and Managing the Value of Companies, University Edition. ABŞ, John Wiley & Sons, 2010.

The book’s messages are simple: Companies thrive when they create real economic value for their shareholders. Companies create value by investing capital at rates of return that exceed their cost of capital. And these two truths apply across time and geography. The book explains why these core principles of value creation are true and how companies can increase value by applying the principles to decisions, and demonstrates practical ways to implement the principles in their decision-making.