McKinsey on Finance 20th anniversary

In the more than two decades since the first edition of McKinsey on Finance, the world has endured wars, financial crises, a global pandemic, and a substantial decline in trust for some major institutions. What will the next 20 years bring? In a special 20th anniversary edition of McKinsey on Finance, 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. Plus, senior partner Michael Birshan, partner Tim Koller, and senior partner Ishaan Seth address three of the most pressing challenges for large companies: massive innovation, good ideas taken too far, and competitive advantage in the net-zero transition. Dive deeper with the insights below, and explore the full collection for reflections on sustainable, inclusive growth.

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

Fundamentals of strategy and value creation

Strategic combinations and divestitures


Debiasing investment and strategy decisions

CFOs and the evolving finance function

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