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David Young & Stephen O'Byrne biography - EVA and Value-Based Management

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EVA and Value Based Management

VBM Thought Leaders: S. David Young and Stephen F. O'Byrne

S. David Young VBMAbout 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.

More recently, Professor Young’s interests have focused on value based management, EVA, and how companies can align their management systems to promote the creation of shareholder value. His major work in this area, EVA and VBM: A Practical Guide to Implementation (McGraw-Hill, 2001), combines the latest thinking on value based management with his own experiences in working with value-driven companies. He has conducted seminars on these subjects in many venues, including Amsterdam, Berlin, Dublin, Lisbon, London, Singapore, and Tokyo. He has also served as an an advisor to several European, Asian, and North American companies.

Professor Young's most recent book is Profits You Can Trust: Spotting and Surviving Accounting Landmines (Financial Times Prentice Hall, 2003). This book is targeted at investors, securities analysts, portfolio managers, corporate board members and any other parties who need to decipher financial reports. It was written in the wake of the recent wave of financial scandals and is designed to provide concrete guidance and advice on detecting misleading accounting practices.
His current book projects include an examination of how to link corporate strategy to finance-based valuation models, and how companies can employ a rigorous marketing-based approach to improve their competitiveness in the capital markets.

Stephen F. O'Byrne VBMAbout 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:
- EVA and VBM with Professor S. David Young of INSEAD (McGraw-Hill, 2001)
- Does Value Based Management Discourage Investment in Intangibles? in Value-Based Metrics: Foundations and Practice (Frank J. Fabozzi Associates, 2000)
- EVA and Shareholder Return in Financial Practice and Education (Spring 1997)
- Executive Compensation in the Handbook of Modern Finance (1997)
- EVA and Market Value in the Journal of Applied Corporate Finance (Spring 1996)

Mr. O’Byrne has been an advisor to the Securities & Exchange Commission, the Financial Accounting Standards Board, Institutional Shareholder Services and CS First Boston equity research. He was previously Senior Vice President of Stern Stewart & Co. and Principal of Towers Perrin. Mr. O’Byrne holds a B.A. degree in political science from the University of Chicago, an M.S. in Mathematics from Northwestern University and a J.D. from the University of Chicago. He is a certified public accountant, a member of the Illinois bar, a member of the New York Society of Security Analysts and a former Lecturer in Mathematics at Loyola University of Chicago.


EVA and Value-Based Management - Young O'Byrne

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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