Investment appraisal techniques are an integral part of many traditional capital budgeting processes. However, the adoption of Information Systems (IS) and the development of resulting infrastructures are being increasingly viewed on the basis of consumption. Consequently, decision-makers are now moving away from the confines of rigid capital budgeting processes, which have traditionally compar...

In recent years, an increasing number of companies have been struggling to justify strategic technology investments using traditional capital budgeting systems. The existing accountingbased decision models (such as discounted cash-flow) are said to be no longer adequate to help evaluate investments in technological innovation, mainly because of the strategic, intangible nature of the benefits i...

Purpose – This paper aims to analyse the relationship between intellectual capital and financial capital using a case study. This makes it possible to discuss how intellectual capital is related to value creation with a degree of nuance that is absent from most statistical studies of relationships between human, organisational, relational and financial capital. Design/methodology/approach – The...

e recently conducted a comprehensive survey that analyzed the current practice of corporate finance, with particular focus on the areas of capital budgeting and capital structure. The survey results enabled us to identify aspects of corporate practice that are but the opinions expressed herein do not necessarily represent the views of FEI. We thank the FEI executives who responded to the survey...

We consider a ...rm’s decision to replace an existing production technology with a new, more cost-e¢cient one. Kulatilaka and Perotti [1998, Management Science ] ...nd that, in a two-period model, increased product market uncertainty could encourage the ...rm to invest strategically in the new technology. This paper extends their framework to a continuous-time model which adds ‡exibility in tim...