David Young & Stephen O'Byrne biography - EVA and Value-Based Management
VBM Thought Leaders: S. David Young and Stephen F. O'Byrne
EVA and Value Based Management
About S. David Young: biography / resume / curriculum vitae
Professor at INSEAD,
S. David Young holds a PhD from the University of Virginia and is both a
Certified Public Accountant (USA) and a Chartered Financial Analyst.
Throughout the early and mid-1990s, Professor Young devoted most of his
efforts to Central and Eastern Europe. His research on economies in
transition appeared in a variety of academic and professional journals. He
directed INSEAD’s public executive program, Strategies for Eastern Europe,
taught an MBA elective course on the same topic, and served as an advisor to
many private companies and supranational organizations.
About Stephen F. O'Byrne: / biography / resume / curriculum vitae
Stephen O'Byrne is the
President of Shareholder Value Advisors. He has more than twenty years of
experience as a consultant to companies on compensation, performance
measurement and valuation issues. His publications include:
About EVA and Value Based Management - A practical guide to implementation
Comprehensive book on EVA and VBM. Young and O'Byrne are strong advocates of shareholder value thinking.
EVA and VBM, despite persistent claims to the contrary, are not magic wands, guaranteeing instant success. Instead, they are a set of management tools - powerful tools, to be sure, proven to work in case after case - for creating and augmenting value. Management consultants Young and O'Byrne explain the importance of shareholder value taking center stage.
The first part of the book gives a generic and easy to comprehend strategic overview. The second part of EVA and VBM digs deeper with more technical details, calculations and case studies to help finance professionals with the implementation of EVA (Economic Value Added) programs. The book tries to more or less objectively assess EVA's power to motivate managers, noting that some companies are also not well-suited for this performance metric.
Highly recommended reading for any senior manager.
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