to the Site
As the material on this site accumulates and the users become more diverse,
both in their backgrounds and what they are looking for, I have struggled
with how best to organize and present the material.
- How is the
site structured and what is in each section?
- Where do I start?
- Where do I find information on a specific topic and what do I do when I cannot
- What are the rules on using information that I find on the site?
- Who do I report errors on the
Structure of the Site
The site is structured around nine basic sections.
- The background section includes an overall glossary of
finance terms, a more detailed glossary of financial ratios and measures
and primers on statistics, accounting and present value. It is a
good place to start if you are new to finance.
- The topic section breaks the material on the site down by
three major topic areas - corporate finance, valuation and portfolio
management. Within each of these topical areas, you will find links
to my books, papers, classes and other material on the subject.
- The book section lists my corporate finance,
valuation and portfolio management books, with links to the websites
that support these books.
- The class section lists
the classes that I teach both at the MBA and Executive MBA levels,
and the supporting material (overheads, exams, webcasts etc.) for
- The data section contains the datasets
that I maintain for US and foreign companies on a variety of relevant
variables. You can also download the raw data on individual companies
- The spreadsheet section lists all of
the spreadsheets that you can download and use to your heart's content.
- The research/papers section includes working papers and publications
that I have on a variety of topics. While many of these writings
have found their way into my books, the latest listings will give
you previews of what I am working on right now.
- The seminar section lists the seminars that I have done over time, with
links to the presentations that I have used at each one. It also
has a list of upcoming seminars in different parts of the world.
The final section lists the webcasts that are available for my classes
and some outside seminars.
- The webcast section includes all my MBA class webcasts as well
as other webcasts of presentations that I have done over time.
You can also click here to get to a site
map that you can use to navigate the site.
Where do I start?
The answer really depends upon why you are on the site in the first
- If you are looking for data: The place to go is the updated
data page. I have estimated industry averages for a number of financial
and market varaibles on this page for US, European, Japanese and
Emerging Market companies. If you want to look at the raw data, you
can download individual company data for all companies from this
page. I have also attempted to provide some historical perspective
with archived data going back about 5 years for US companies and
2-3 years for non-US companies.
- If you want to download a spreadsheet: If you are looking
for a spreadsheet to do a corporate financial analysis (project analysis,
optimal capital structure, dividend policy) or a valuation of a mature,
high growth or money losing firm, you should try the spreadsheets
page. The spreadsheets are not supposed to be black boxes. So, please
do make sure that you feel comfortable with what is being done within
the spreadsheets before you use them. And feel free to modify or
adapt these spreadsheets...
- If you want to get information on a specific
topic: I would try the research/papers page first. This is where
I usually highlight topics that I find interesting. After a few iterations
and comments, they invariably become chapters in my books. These
are not conventional research papers but practitioner thought pieces.
- If you want to take a class: You can follow either the
corporate finance or valuation class that I teach at Stern on your
own. The lectures notes for the classes can be downloaded, the webcasts
of the classes are accessible and you can even take the quizzes and
exams if you are so inclined.
- If you are looking to download powerpoint presentations:
If you are an instructor, looking to download the powerpoint presentations
for books or topics, you will find yourself confronted with a request
for a password and a username. Please contact me by email and I will
give you both.
- If you want to just browse: Click on topics or books and
roam through the site. Perhaps, something interesting will catch
- If you are a novice to finance and valuation: I would
suggest that you strart with the background page, where you will
find primers on accounting, statistics and finance as well as introductions
to each of the three topics - corporate finance, valuation and portfolio
management - around which this site is built. Once you have familiarized
yourself with the topics, you can try to use the webcasts
for the MBA classes on my site to see if you can build on your knowledge.
- If you want to get a question answered: I hope you find
the answer somewhere on the site but even if you do not, you can
email me your question. As long as it is not too involved, I will
try to answer it.
Where do I find XXXX and what do I do if I cannot
It depends on what you are looking for. You can try two starting points.
One is the search box on the home page; it is not the most efficient
search engine in the world, but it does reasonably well on individual
topics. The other is in the extended glossary. I have tried to provide
the links that you need from within the glossary. I usually update
the data online at least twice a year for US companies and once a year
for non-US companies. If you do not find the data, you can ask me and
I can let you know whether the data is available or not, and if not,
Rules on using data and spreadsheets
This is an open site with very few rules. I have no problem
with your use of any of the informatiion on this site but I will only
ask two things of you. The first is that you do not try to commercially
exploit the data on this site by turning around and selling it; I know
that you would never even contemplate doing this but it has been done
before. You have every right to use the data or spreadsheets that you
find here as part of your regular occupation or research. The second
is that you acknowledge the parentage when you used the data from this
site. However, I fully understand if you want to use some insight or
data item to impress a friend, colleague or boss... If it does impress
them, act like it is your own.. If you it does not impress, you can
Errors and Missing Links
If you see errors or missing links on this
web site, please do let me know. I hope that you will forgive me, if
I do not fix the errors instantaneously. Some errors are more complicated
and difficult to fix than others.