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Discussing the Revolution in Corporate Finance: The Stern Stewart Roundtables

ISBN: 978-0-631-20990-4
472 pages
April 1998, Wiley-Blackwell
Discussing the Revolution in Corporate Finance: The Stern Stewart Roundtables (0631209905) cover image

Description

Discussing the Revolution in Corporate Finance: the Stern Steward Roundtables offers an insightful and thought-provoking discussion of key issues in corporate finance. The discussions are selected from the "Stern Stewart Roundtables," a popular recurring feature of the Bank of American Journal of Applied Corporate Finance.

The roundtables feature CEOs, CFOs and other prominent executives from major corporations discussing significant issues in corporate finance with notable academicians. the exchanges cover core topics such as:


  • Market efficiency

  • Corporate strategy

  • Corporate restructurin

  • EVA

  • Corporate governance

  • Risk management

  • Derivatives

  • Capital budgeting

This collection is an excellent addition to any corporate finance course and will be especially welcomed by those already using The Revolution in Corporate Finance, Third Edition by Joel M. Stern and Donald H. Chew.

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Table of Contents

Part I: How the Stock Market Values Companies:.

1. Relationship Investing and Shareholder Communications: Moderated by Joel Stern and Bennett Stewart. Panelists: Basil Anderson, Scott Paper Co. ; Carolyn Brancato, Riverside Economic Research; Geoffrey Colvin, Fortune; Judith Dobrzynski, Business Week; Alex Lebmann; Neil Minnow, LENS Fund; Krishna Palepu, Harvard Business School; Edward Regan, Jerome Levy Institute; Joseph Shenton, OLC Corp, Derek Smith, Equifax, Inc; Eugene Vesell, Oppenheimer Capital; and Jerold Zimmerman, University of Rochester.

2. A Look At the Lead Steer Investors: Moderated by Joel Stern and Bennett Stewart, Stern Stewart & Co. Panelists: Yakov Amibud, New York University; Charles Brunie, Oppenheimer Capital; Carl Ferenbach, Berkshire Partners; Richard Fredericks, Montgomery Securities; Joseph Grunfest, U. S. Securities and Exchange Commission; John Lafferty, Stern Roe & Farnbam; Baruch Lev, University of California at Berkeley; Binkley Shorts, Wellington management; and Richard Zeckhauser, Harvard University.

3. Volatility in U. S. and Japanese Stock Markets: A Symposium: Presentations by: James Tobin, Yale University; Wendy Gramm, Commodities Futures Trading Commission; Mitsuo Sato, Tokyo Stock Exchange, Stephen Timbers, Kemper Financial Services; Merton Miller; University of Chicago; Robert Shiller, Yale University; and Richard Roll, University of California at Los Angeles.

Part II: Corporate Strategy:.

4. Global Competition in the 90s: Moderated by Bennett Stewart. Panelists: C. K. Prabalad, University of Michigan; Charles Clough, Wyle laboratories; Dennis Eck, The Vons Companies; Frank Perna, Magnetek, Inc. ; Robert Perry, Dames & Moore, Inc. ; Edward Thompson, Amdahl Corporation; Len Williams, MacFrugal's, Inc.

5. Corporate Strategy in the '90s: Moderated by Bennett Stewart Panelists: Alfred Chandler, Harvard Business School; Delmont Davis, Ball Corporations; Dennis Gormley, Federal-Mogul Corporation; David Gruber, Wyman-Gordon Company; Richard Huber; Continental Bank; Norm Poole, L. L. Bean; and Richard Radt, Mosinee Paper Corporation.

Part III: Leverage and Corporate Restructuring:.

6. The Link Between Capital Structure and Shareholder Value: Moderated by Bennett Stewart. Panelists: Jay Allen, Tosco Corporation; Cheryl Francis, R. R. Donnelley & Sons Co. ; Michael Jensen, Harvard Business School; Michael O'Neill, Bank of America; and Dennis Soter, Stern Stewart & Co.

7. Selections From the Senate and House Hearings on LBOs and Corporate Debt: Presentations by: Alan Greenspan, Federal Reserve Board of Governors; Michael C. Jensen, Harvard Business School; Lawrence H. Summers, Harvard University; and Alan J. Auerbach, University of Pennsylvania.

8. The Economic Consequences of High Leverage and Stock market Pressures On Corporate Management: Moderated by Harry dangle, University of Michigan. Panelists: Allan Gilmour, Ford Motor Company; Michael Jensen, Harvard Business School; Robert Mercer, Goodyear Tire and Rubber Company; Nell Minnow, Institutional Shareholder Services, Inc. John Morley, Reliance Electric Corporation; Robert Stefert, Fruehauf Corporation; Bennett Stewart, Stern Stewart & Co; Lawrence Summers, Harvard University, and Ira Harris, Lazard Freres.

9. Bankruptcies, Workouts, and Turnarounds: Moderated by Leonard Rosen. Panelists: Peter Fitts, Citibank; Russell Luigs; Global Marine Steve Miller; Chrysler Corporation; Michael Price, Mutual Shares Corporation; Leonard Rosen, Wachtell; Lipton, Roserr & Katz; Wilbur Ross, Rothschild, Inc. ; David Schulte, Chilmark Partners; Gerald Turner; Bank of America; and Sam Zell, Equity and Financial Management Company.

Part IV: EVA Corporate Governance, and management Incentives:.

10. Stern Stewart EVA Roundtable: Moderated by Joel Stern and Bennett Stewart, Stern Stewart & Co. Panelists: Joseph Willett; Merrill Lynch & Co. ; Jerold Zimmerman, University of Rochester, Carm Adimando, Ptiney Bowers; Robert Butler, International Paper; Susan Malley, Citicorp Investment Services; Abraham Ravid, Rutgers University; and Richard Shepro, Mayer, Brown & Platt.

11. EVA and Shareholder Value in Japan: E. Harn Kim, University of Michigan, Toru Mochizuk, Coca-Cola Japan; Mark Newburg, NCR Japan; Virgil Stephens, Eastman Chemical Company, Joel Stern, Stern Stewart & Co; and Takaaki Wakasugi, Tokyo University.

12. Current Issues in Commercial Banking: Strategic Planning, Performance Measurement, and Incentive Compensation: Moderated by Bennett Stewart, Stern Stewart & Co. Panelists: Frank Gentry, NationsBank; James Hatch, First Union Corporation; Christopher James, University of Florida, Charles Newman, Barnett Banks; Michael O'Neill, Bank of America; John Spiegel, SunTrust; and John Westman, BancOne.

13. Management Incentive Compensation and Shareholder Value: Moderated by Joel Stern and Bennett Stewart, Stern Stewart & Co. Panelists: William Smithburg and Douglas Ralston, Quaker Oats Co; Stephen Butler and Richard Woodham, W. C. Bradley Co. ; Jash Cashman and Aleksandar Erdelfan, R. P. Scherer Corporation; Dennis love and Michael Hembree, Printpak, Inc. ; Jay Proops, Vigoro Corporation; Michael Murray and Joseph Thompson. Continental Bank; Michael Mauboussin, first Boston; Myron Scholes, Stanford University; Yakov Amibud, New York University; and Bernard Black, Columbia University.

14. CEO Roundtable on Corporate Structure and Management Incentives: Moderated by Joel Stern and Bennett Stewart, Stern Stewart & Co. Panelists: Eugene Applebaum, Arbor Drugs, Inc. ; John Burns, Vista Chemical Company; Robert Evans, Crane Company; John Gould, University of Chicago; Tod Hamachek, Fenwest, Ltd. ; Robert Kidder, Duracell Inc. ; Michael Jensen, Harvard Business School; John Johnstone, Olin Corp. ; Micchael Murray, Continental Bank; Richard Sim, Applied Power Inc. ; and Claudia Zaner, CMZ International.

15. The Role of Corporate Boards in the 1990s: Moderated by Bennett Stewart, Stern Stewart & Co. Panelists: Michael Jensen, Harvard Business School; James Birle, the Blackstone Group; Wade Cable, the Presely Companies; Roger Lee, Caesars World; John Roach, Fibreboard Corporation; William Roper, Science Applications International Corporation; Fred Simmons, Freeman Spogli; and John Teets, the Dial Crop.

Part V: Risk Management and International Finance:.

16. Derivatives and Corporate Risk Management: Moderated by Robert McKnew, Bank of America. Panelists: Thomas Jones, Union Carbide Corporation; Lynn Lane, R. J. Reynolds Tobacco Company; Jonelle St. John, MCR Communicants Corp. ; and Jon Van Roden Lukens, Inc.

17. Evaluating and Financing Foreign Direct Investment: Moderated by Roy Smith, New York University, Panelists: Dan Cohrs, GTE Corporation; Alan Gausthier, Exide Corporation; Paul Bull, General Motors Acceptance Corporation; and Dennis Ling, Avon Products Corporation.

18. U. S. Venture Capital and Innovation (With A Look At Eastern Europe): Moderated by Donald Chew, Stern Stewart & Co. Panelists: Gordon Baty, Zero Stage Capital Company; William Bygrave, Babson College; Patrick Finegan, Stern Stewart & Co. ; Kenneth Froot, Harvard Business School; Thomas Gray, Small Business Administration; John Kensinger, University of North Texas; Gary Loveman, Harvard Business School; Stephen Magee; University of Texas At Austin; John Martin, University of Texas at Austin; Bruce Petersen, Washington University; William Petty, Baylor University; and William Wetzel, University of New Hampshire.

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Author Information

Donald H. Chew, Jr. was a founding partner of Stern Stewart & co. and is Editor-in-chief of the Bank of America Journal of Applied Corporate Finance. He holds a Ph. D. in English and American Literature, as well as an MBA in Finance, from the University of Rochester.
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The Wiley Advantage

* Explores issues from corporate vs. academic perspectives.

* Offers views from leading academicians and prominent corporate executives. Some academicians featured are: Micheal Jenson, Myron Scholes, Lawrence H. Summers, Alfred Chandler, and Bernard Blacks. Several Corporations represented are: At&T, Olin Corporation, Goodyear Tire and Rubber.

* Can be used alongside any corporate finance textbook.

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