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Audio Articles
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Managing capital projects: Lessons from Asia
No. 28, Summer 2008
Some Asian companies are better at executing capital projects than are rivals elsewhere. What lessons can others learn from them? |
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Organizing for value
No. 28, Summer 2008
The division structure can mask big differences in the performance of smaller units. A finer-grained approach can better show where value comes from. |
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China's track record in M&A
McKinsey Quarterly web exclusive, June 2008
China's companies are expanding the focus of their outbound M&A, but so far they have struggled to create value. |
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Communicating with the right investors
No. 27, Spring 2008
Executives spend too much time talking with investors who don't matter. |
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Preparing for a slump in earnings
No. 27, Spring 2008
Historic trends suggest earnings may fall more than most executives expect. Companies should prepare for steeper declines and take steps to strengthen their positions when times improve. |
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Running a winning M&A shop
No. 27, Spring 2008
Picking up the pace of M&A requires big changes in a company's processes and organization - even if the deals are smaller. |
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Taking stock: Ten years after the Asian financial crisis
No. 26, Winter 2008
The Asian financial system could become a full-fledged economic powerhouse, but only if its regulatory systems, economic ministries, and financial institutions improve dramatically. |
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Deal making in 2007: Is the M&A boom over?
No. 26, Winter 2008
Reports of the demise of the M&A boom may be greatly exaggerated. But to keep it going, companies must work even harder to ensure that deals create value. |
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The new role of oil wealth in the world economy
McKinsey Global Institute Report, October 2007
Regulators may worry when Arab investors acquire stakes in western companies, yet vast reserves of petrodollars have kept down interest rates and buoyed financial assets. What's the broader effect of the surge in petrodollars? |
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How to improve strategic planning
No. 25, Autumn 2007
It can be a frustrating exercise, but there are ways to increase its value. |
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Market fundamentals: 2000 versus 2007
No. 25, Autumn 2007
Whither the S&P 500? Comparing the market's recent turmoil with its decline at the end of the dot-com boom can help investors assess what might come next. |
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How to choose between growth and ROIC
McKinsey Quarterly web exclusive, September 2007
Investors reward high-performing companies that shift their strategic focus prudently, even if that means lower returns or slower growth. |
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The granularity of growth
No. 24, Summer 2007
A fine-grained approach to growth is essential for making the right choices about where to compete. |
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The state of the corporate board, 2007:
A McKinsey Global Survey
No. 24, Summer 2007
Corporate directors want more information about their companies and industries, and they say that investments by private-equity firms improve governance. |
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Preempting hostile takeovers
No. 24, Summer 2007
Companies that stick to valuation basics can capture any value that would make them attractive for takeover bids. |
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A quiet revolution in China's capital markets
No. 24, Summer 2007
Reforms that attracted little attention in the Western world mark a major step forward in the modernization of China's capital markets. |
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Getting more out of offshoring the finance function
No. 23, Spring 2007
Companies aren't getting the most out of their offshoring programs. Key design changes would help. |
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Living with the limitations of success
No. 23, Spring 2007
Once companies reach a certain size, setting realistic performance aspirations gets a bit trickier. |
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The new dynamics of managing the corporate portfolio
No. 23, Spring 2007
As investors demand that companies actively manage their business portfolios, executives must increasingly balance investment opportunities against the capital that's available to finance them. |
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Preparing for the next downturn
No. 23, Spring 2007
In a buoyant economy, the next recession seems far off. But managers who prepare during good times can improve their companies' chances to endure—or thrive in—the eventual downturn. |
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The truth about growth and value stocks
No. 22, Winter 2007
Investors and fund managers build entire portfolios around the premise that growth stocks grow faster than value stocks. The problem is that they don't. |
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Why accounting rules shouldn't drive strategy
No. 22, Winter 2007
When changes in accounting rules provide no new information, they don't register with investors. Nor should they lead managers to shift focus. |
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Are companies getting better at M&A?
No. 22, Winter 2007
The latest boom in merger activity appears to be creating more value for the shareholders of the acquiring companies. |
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Shaping strategy from the boardroom
No. 21, Autumn 2006
As companies turn their attention from compliance to growth and innovation, boards must focus on strategy. |
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Successful mergers start at the top
No. 21, Autumn 2006
A cohensive top-management team is essential for integrating acquisitions successfully. |
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When should CFOs take the helm?
No. 21, Autumn 2006
CFOs can bring much-needed skills to the CEO role, but the career path isn't always a direct one. |
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The irrational component of your stock price
No. 20, Summer 2006
In the short term, emotions influence market pricing. A simple model explains short-term deviations from fundamentals. |
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Habits of the busiest acquirers
No. 20, Summer 2006
M&A executives at the most successful US companies understand not only how acquisitions create value but also how to enlist the support of the organization. |
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Learning to let go: Making better exit decisions
No. 20, Summer 2006
Psychological biases can make it difficult to get out of an ailing business. |
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Toward a leaner finance department
No. 19, Spring 2006
Borrowing key principles from lean manufacturing can help the finance function to eliminate waste. |
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The misguided practice of earnings guidance
No. 19, Spring 2006
Companies provide earnings guidance with a variety of expectations – and most of them don't hold up. |
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How to make M&A work in China
No. 18, Winter 2006
The conditions are right for China's nascent M&A market to flourish. Companies should try a new approach to deal making. |
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Making capital structure support strategy
No. 18, Winter 2006
A company's ratio of debt to equity should support its business strategy, not help it pursue tax breaks. Here's how to get the balance right. |
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A long-term look at ROIC
No. 18, Winter 2006
Finance theory isn’t enough when companies set their expectations for reasonable returns on invested capital. A long-term analysis of market industry trends can help. |
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Capital discipline for Big Oil
No. 18, Winter 2006
The oil and gas industry has a history of overinvesting at the top of a cycle. This time it should break the habit. |
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Building the healthy corporation
McKinsey Quarterly , 2005 Number 3
It is difficult – but vital – for managers to strike a balance between the short and long terms. |
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Measuring stock market performance
No. 17, Autumn 2005
TRS doesn't reflect a company's performance or health. What does? |
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Reducing the risks of early M&A discussions
No. 17, Autumn 2005
Used early in negotiations, a third-party clean team can help companies assess a deal and protect sensitive data. |
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Smoothing postmerger integration
No. 17, Autumn 2005
It takes less time than you think for a clean team to make valuable contributions to the integration of businesses. |
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Measuring long-term performance
No. 16, Summer 2005
Earnings per share and share prices aren't the whole story – particularly in the medium and long term. |
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The value of share buybacks
No. 16, Summer 2005
Companies shouldn't confuse the value created by returning cash to shareholders with the value created by actual operational improvements. After all, the market doesn't. |
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Does scale matter to capital markets?
No. 16, Summer 2005
Simply getting bigger won't produce a higher valuation multiple. |
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How to escape the short-term trap
McKinsey Quarterly web exclusive, April 2005
Markets may expect solid performance over the short term, but they also value sustained performance over the long term. How can companies manage both time frames? |
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Do fundamentals – or emotions – drive the stock market?
No. 15, Spring 2005
Emotions can drive market behavior in a few short-lived situations. But fundamentals still rule. |
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The right passage to India
No. 14, Winter 2005
Companies attracted to the country’s potential must do more than merely transplant products and systems that have succeeded elsewhere. |
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All P/Es are not created equal
No. 11, Spring 2004
High price-to-earnings ratios are about more than growth. Understanding the ingredients that go into a strong multiple can help executives make the most of this strategic tool. |
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