Journal of Finance
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Опубликовано на портале: 31-03-2003
Lawrence D. Schall, Gary L. Sundem, William R. Geijsbeek
Journal of Finance.
1978.
Vol. 33.
No. 1.
P. 281-7.
Recent findings presented in the finance and accounting literature have indicated
that firms are using increasingly sophisticated capital budgeting techniques (Istvan
[2], Klammer [3] and Fremgen [1]. The present paper discusses the results of a more
recent survey of large U.S. firms that was conducted by the authors. The survey (presented
in the Appendix) inquired about the capital budgeting techniques employed, the computation
of the discount rate and of cash flows, and the method of estimating and adjusting
for project risk. Section II describes the sample employed and presents the results
of the survey. Section III compares the results to those of previous surveys and
briefly examines the association between the survey findings and a number of firm
economic variables. Section IV is a summary. [Авторский текст]
