The ValueReporting Revolution: Moving Beyond the Earnings Game. Dieser Artikel ist nicht verfügbar.The ValueReporting Revolution: Moving Beyond the Earnings Game

The Value Reporting Revolution is a rallying cry for radical improvements in corporate reporting-a call to be heeded not just by executives who report on corporate performance and the investors who listen to what they say but also by governing boards, accounting firms, securities analysts, and regulators worldwide. This revolution is about information. To make sound, long-term investment decisions, large institutional investors and astute individuals alike want to know more about what companies actually do to create value. They especially need information about market dynamics, corporate strategy, and nonfinancial value drivers that are leading indicators of a company's future financial performance and stock price.Yet too many companies today find themselves locked in "The Earnings Game". It's a never-ending and highly dysfunctional game focused myopically on short-term earnings, which in reality say very little about future stock price performance. The consequences of the game? Excessive stock price volatility, inaccurate valuations, and over-reliance on market gossip. Nothing short of a Value Reporting Revolution will end this game and rid the markets of the crippling consequences. This book delivers a trenchant and often biting analysis of the severe problems that plague today's capital markets. More important, it articulates an array of practical, though controversial, solutions. "Value Reporting" calls on corporate executives to provide more, rather than less, of the kind of information they use to create value. It exhorts investors to demand that companies do this. It urges boards of directors to make sure it gets done. And it puts accounting firms and securities analysts on notice that they must become part of the solution rather than part of the problem. Often provocative and never hesitant to tell it like it is, "The Value Reporting Revolution" speaks with authority and clarity. It sounds its compelling call to arms to anyone with an interest in dramatically improving the markets on which so many depend.

ROBERT G. ECCELES Dr. Eccles is a founder and President of Advisory Capital Partners, Inc. and a Senior Fellow of PricewaterhouseCoopers. He was a tenured professor at the Harvard Business School, where he served on the faculty for 14 years. While there, one of his major research interests was performance measurement and reporting. Dr. Eccles received his undergraduate degrees from the Massachusetts Institute of Technology and his Ph.D. from Harvard University. ROBERT H. HERZ A partner with PricewaterhouseCoopers, Robert Herz is the firm's North America Leader of Professional, Technical, Risk, and Quality. His professional service includes positions on the FASB's Emerging Issues and Financial Instruments Task Forces, the Financial Accounting Standards Committee of the American Accounting Association, and chair of the SEC Regulations Committee of the AICPA. He is a U.S. Certified Public Accountant and a U.K. Chartered Accountant. E. MARY KEEGAN Mary Keegan coauthored this book as Head of the Global Corporate Reporting Group of PricewaterhouseCoopers, where she specialized in international corporate governance and reporting. She has also served as Vice President of the Federation des Experts Comptables Europeens and as a member of the IASC's Standing Interpretations Committee. She is now the Chairman of the U.K. Accounting Standards Board. DAVID M. H. PHILLIPS David Phillips is a partner with PricewaterhouseCoopers in the Assurance/Business Advisory Services practice in the United Kingdom and serves as the European Leader of ValueReporting. He is a graduate of Nottingham University, where he read Industrial Economics, and is a U.K. CharteredAccountant.