Today, in a globally insecure world, corporate security should be a key driver of shareholder value. All too often security is not consistently linked to core strategic areas like risk management and strategic planning. A lack of measures and metrics to quantify its contribution has slowed down its chances to earn a rightful place at the top table. Where world-class companies have embraced an approach to security as a value adding function, significant business and organisation benefits have emerged. These include productivity gains, new revenue opportunities, and improved corporate reputation and resilience. It is time for more people to have the opportunity to discover how security can perform a transformational role, not simply a passive one. This book demonstrates what security's real capabilities are, and what needs to be done to realise them. The experiences presented have occurred in real organisations, globally, that are reaping the rewards of being at the vanguard of this new approach to security management.
A superior new replacement to traditional discounted cash flow valuation models Executives and corporate finance practitioners now have a more reliable discount rate to value companies and make important business and investment decisions. In today's market, it’s free cash flow, cost of capital and return on invested capital that really matters, and now there's a superior tool to help analyze these metrics—Security Valuation and Risk Analysis. In this pioneering book, valuation authority Kenneth Hackel presents his next-generation methodology for placing a confident value on an enterprise and identifying discrepancies in value—a system that will provide even the most well-informed investor with an important competitive advantage. At the core of Security Valuation and Risk Analysis is Hackel's successful credit model for determining an accurate fair value and reliable discount rate for a company. Using free cash flow as the basis for evaluating return on invested capital is the most effective method for determining value. Hackel takes you step by step through years of compelling evidence that shows how his method has earned outsized returns and helped turn around companies that were heading toward failure. Whether used for corporate portfolio strategy, acquisitions, or performance management, the tools presented in Security Valuation and Risk Analysis are unmatched in their accuracy and reliability. Reading through this informative book, you'll discover how to: Take advantage of early warning signs related to cash flow and credit metrics Estimate the cost of equity capital from which free cash flows are discounted Identify where management can free up resources by using a better definition of free cash flow Security Valuation and Risk Analysis provides a complete education on cash flow and credit, from how traditional analysts value a company and spot market mispricing (and why many of those traditional methods are obsolete) to working with the most recent financial innovations, including derivatives, special purpose entities, pensions, and more. Security Valuation and Risk Analysis is your answer to a credit market gone bad, from an expert who knows bad credit from good.
This open access book provides the first comprehensive collection of papers that provide an integrative view on cybersecurity. It discusses theories, problems and solutions on the relevant ethical issues involved. This work is sorely needed in a world where cybersecurity has become indispensable to protect trust and confidence in the digital infrastructure whilst respecting fundamental values like equality, fairness, freedom, or privacy. The book has a strong practical focus as it includes case studies outlining ethical issues in cybersecurity and presenting guidelines and other measures to tackle those issues. It is thus not only relevant for academics but also for practitioners in cybersecurity such as providers of security software, governmental CERTs or Chief Security Officers in companies.
Presenting invaluable advice from the world?s most famous computer security expert, this intensely readable collection features some of the most insightful and informative coverage of the strengths and weaknesses of computer security and the price people pay -- figuratively and literally -- when security fails. Discussing the issues surrounding things such as airplanes, passports, voting machines, ID cards, cameras, passwords, Internet banking, sporting events, computers, and castles, this book is a must-read for anyone who values security at any level -- business, technical, or personal.
In corporate security today, while the topic of information technology (IT) security metrics has been extensively covered, there are too few knowledgeable contributions to the significantly larger field of global enterprise protection. Measuring and Communicating Security's Value addresses this dearth of information by offering a collection of lessons learned and proven approaches to enterprise security management. Authored by George Campbell, emeritus faculty of the Security Executive Council and former chief security officer of Fidelity Investments, this book can be used in conjunction with Measures and Metrics in Corporate Security, the foundational text for security metrics. This book builds on that foundation and covers the why, what, and how of a security metrics program, risk reporting, insider risk, building influence, business alignment, and much more. - Emphasizes the importance of measuring and delivering actionable results - Includes real world, practical examples that may be considered, applied, and tested across the full scope of the enterprise security mission - Organized to build on a principal theme of having metrics that demonstrate the security department's value to the corporation
A modern approach to equity valuation Understanding the key ingredients that combine to affect price/earnings (P/Es) is of crucial importance to the investment process. In Franchise Value, Martin Leibowitz tackles the imposing task of determining what really has an impact on P/Es. The author shows why he subscribes to the conventional logic that the P/E gauges the market's assessment of the firm's future. He then introduce readers to the franchise-value approach to analyzing the prospective cash flows that determine a company's P/E. The franchise-value approach to valuation enables the analyst or investor to break the firm into two key component parts and to value those components. The franchise value approach is original and insightful, and with this book, readers can begin to implement this approach to perform better equity valuations. Martin L. Leibowitz, PhD (Stamford, CT), is Vice Chair and Chief Investment Officer at TIAA-CREF, where he is responsible for the overall management of all TIAA-CREF investments. He has authored several books and more than 130 articles, nine of which have received a Financial Analysts Journal Graham and Dodd Award of Excellence.
Explains financial analysis techniques, shows how to interpret financial statements, and discusses the analysis of fixed-income securities and the valuation of stocks.
Today, in a globally insecure world, corporate security should be a key driver of shareholder value. All too often security is not consistently linked to core strategic areas like risk management and strategic planning. A lack of measures and metrics to quantify its contribution has slowed down its chances to earn a rightful place at the top table. Where world-class companies have embraced an approach to security as a value adding function, significant business and organisation benefits have emerged. These include productivity gains, new revenue opportunities, and improved corporate reputation and resilience. "It is time for more people to have the opportunity to discover how security can perform a transformational role, not simply a passive one." This book demonstrates what security's real capabilities are, and what needs to be done to realise them. The experiences presented have occurred in real organisations, globally, that are reaping the rewards of being at the vanguard of this new approach to security management.
Computers at Risk presents a comprehensive agenda for developing nationwide policies and practices for computer security. Specific recommendations are provided for industry and for government agencies engaged in computer security activities. The volume also outlines problems and opportunities in computer security research, recommends ways to improve the research infrastructure, and suggests topics for investigators. The book explores the diversity of the field, the need to engineer countermeasures based on speculation of what experts think computer attackers may do next, why the technology community has failed to respond to the need for enhanced security systems, how innovators could be encouraged to bring more options to the marketplace, and balancing the importance of security against the right of privacy.
