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McKinsey on Finance 20th anniversary

Sustainable, inclusive growth is the sine qua non of free markets. Our economy, and society, can thrive only if more people take part: cooperating, investing, creating, and solving to provide solutions, in a responsible way, that other people value. In this special 20th anniversary edition, we reflect on fundamental lessons and urgent challenges; provide a compendium of selected, previously published articles that explore core principles of corporate finance across five essential categories; and chart how the market has grown.

Lessons and challenges

Reflections on 20 years of McKinsey on Finance—and three challenges ahead

Revolutionary innovations, brilliant ideas, and climate imperatives will change everything—except the fundamentals of finance and economics.

Compendium insights

Fundamentals of strategy and value creation

How is value created—and destroyed? A closer look at corporate finance, its bond with strategy, and the benefits of value creation.

Strategic combinations and divestitures

Who is, and isn’t, the best owner of a business? Why might the answers change? Lessons about when and how to grow.


A long-term perspective is essential for value creation—all the more so when the challenges and consequences of externalities are increasingly top-of-mind.

CFOs and the evolving finance function

Building a leading-edge, digital-first, and strategy-minded finance function takes a lot more than delivering quarterly and annual reports.

Debiasing investment and strategy decisions

For decades, we’ve been exploring how leaders can push their organizations to debias decisions, particularly on resource allocation and strategy.

Charting growth


Looking back: What does the ‘long term’ really mean?

– Stock markets can be volatile, and some years they decline. But the ups far outnumber the downs—and returns are in line with two centuries of performance.

McKinsey on Finance, Number 80

McKinsey on Finance: 20th anniversary edition

Reflections on sustainable, inclusive growth.

Previous editions

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