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Capital Investment Appraisal Techniques: A Survey Of Current Usage

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  • Alan Sangster

Abstract

This paper seeks to show that organisational change, fuelled by the expansion of information technology, may have contributed to the erosion of the previously established relationship between company size and the quantitative investment appraisal criteria selected. It finds that companies are using more methods together, that usage of the more sophisticated discounted cash flow techniques is higher, and that usage of the less theoretically sound accounting rate of return technique is lower, than previous studies would have suggested for companies of the size involved. It suggests that the size/method selection relationship may only be identifiable when the companies involved are all part of one study, or the studies compared are contemporaneous.

Suggested Citation

  • Alan Sangster, 1993. "Capital Investment Appraisal Techniques: A Survey Of Current Usage," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 20(3), pages 307-332, April.
    • Handle: RePEc:bla:jbfnac:v:20:y:1993:i:3:p:307-332
    DOI: 10.1111/j.1468-5957.1993.tb00258.x
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    References listed on IDEAS

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    1. Anthony G. Hopwood, 1990. "Accounting and Organisation Change," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 3(1), pages 1-1, April.
    2. repec:eme:aaaj00:09513579010145073 is not listed on IDEAS
    3. James C. Brancheau & James C. Wetherbe, 1990. "The Adoption of Spreadsheet Software: Testing Innovation Diffusion Theory in the Context of End-User Computing," Information Systems Research, INFORMS, vol. 1(2), pages 115-143, June.
    4. Vijay Gurbaxani & Haim Mendelson, 1990. "An Integrative Model of Information Systems Spending Growth," Information Systems Research, INFORMS, vol. 1(1), pages 23-46, March.
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    Cited by:

    1. Richard Pike, 1996. "A Longitudinal Survey On Capital Budgeting Practices," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 23(1), pages 79-92, January.

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