Capital budgeting in a fast-changing world

Long Range Planning

Volumn 31, Issue 4, 1998, Pages 529-541

  Segelod, Esbjörn ^a  

^a MÄLARDALEN UNIVERSITY   (Sweden)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0343599330     PISSN: 00246301     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0024-6301(98)80046-0     Document Type: Article

References (136)

1. A. Lesser, Engineering economy in the United States in retrospect - an analysis, The Engineering Economist 14 (2), 109-115 (1969); E. J. Faulhaber and W. J. Baumol, Economists as innovators: practical products and theoretical research, Journal of Economic Literature XXVI (June), 577-600 (1988); S. P. Dulman, The development of discounted cash flow techniques in U.S. industry, Business History Review 63, (Autumn), 555-587 (1989); M. E. Scorgie, Evolution of the application of present value to valuation of non-monetary resources, Accounting and Business Research, 26 (3), 237-248 (1996).
2. A. Lesser, Engineering economy in the United States in retrospect - an analysis, The Engineering Economist 14 (2), 109-115 (1969); E. J. Faulhaber and W. J. Baumol, Economists as innovators: practical products and theoretical research, Journal of Economic Literature XXVI (June), 577-600 (1988); S. P. Dulman, The development of discounted cash flow techniques in U.S. industry, Business History Review 63, (Autumn), 555-587 (1989); M. E. Scorgie, Evolution of the application of present value to valuation of non-monetary resources, Accounting and Business Research, 26 (3), 237-248 (1996).
3. A. Lesser, Engineering economy in the United States in retrospect - an analysis, The Engineering Economist 14 (2), 109-115 (1969); E. J. Faulhaber and W. J. Baumol, Economists as innovators: practical products and theoretical research, Journal of Economic Literature XXVI (June), 577-600 (1988); S. P. Dulman, The development of discounted cash flow techniques in U.S. industry, Business History Review 63, (Autumn), 555-587 (1989); M. E. Scorgie, Evolution of the application of present value to valuation of non-monetary resources, Accounting and Business Research, 26 (3), 237-248 (1996).
4. A. Lesser, Engineering economy in the United States in retrospect - an analysis, The Engineering Economist 14 (2), 109-115 (1969); E. J. Faulhaber and W. J. Baumol, Economists as innovators: practical products and theoretical research, Journal of Economic Literature XXVI (June), 577-600 (1988); S. P. Dulman, The development of discounted cash flow techniques in U.S. industry, Business History Review 63, (Autumn), 555-587 (1989); M. E. Scorgie, Evolution of the application of present value to valuation of non-monetary resources, Accounting and Business Research, 26 (3), 237-248 (1996).
5. A. D. Chandler, Jr., The Visible Hand: The Managerial Revolution in American Business, Harvard University Press, Cambridge, Mass. (1977); H. T. Johnson and R. S. Kaplan, Relevance Lost: The Rise and Fall of Management Accounting, Harvard Business School Press, Boston, Mass. (1987); S. P. Dulman op. cit.; C. Y. Baldwin and K. B. Clark, Capital-budgeting systems and capabilities investments in U.S. companies after the Second World War, Business History Review 68 (1), 73-109 (1994).
6. A. D. Chandler, Jr., The Visible Hand: The Managerial Revolution in American Business, Harvard University Press, Cambridge, Mass. (1977); H. T. Johnson and R. S. Kaplan, Relevance Lost: The Rise and Fall of Management Accounting, Harvard Business School Press, Boston, Mass. (1987); S. P. Dulman op. cit.; C. Y. Baldwin and K. B. Clark, Capital-budgeting systems and capabilities investments in U.S. companies after the Second World War, Business History Review 68 (1), 73-109 (1994).
7. A. D. Chandler, Jr., The Visible Hand: The Managerial Revolution in American Business, Harvard University Press, Cambridge, Mass. (1977); H. T. Johnson and R. S. Kaplan, Relevance Lost: The Rise and Fall of Management Accounting, Harvard Business School Press, Boston, Mass. (1987); S. P. Dulman op. cit.; C. Y. Baldwin and K. B. Clark, Capital-budgeting systems and capabilities investments in U.S. companies after the Second World War, Business History Review 68 (1), 73-109 (1994).
8. A. D. Chandler, Jr., The Visible Hand: The Managerial Revolution in American Business, Harvard University Press, Cambridge, Mass. (1977); H. T. Johnson and R. S. Kaplan, Relevance Lost: The Rise and Fall of Management Accounting, Harvard Business School Press, Boston, Mass. (1987); S. P. Dulman op. cit.; C. Y. Baldwin and K. B. Clark, Capital-budgeting systems and capabilities investments in U.S. companies after the Second World War, Business History Review 68 (1), 73-109 (1994).
9. E. J. Faulhaber and W. J. Baumol op. cit.
10. J. L. Bower, Managing the Resource Allocation Process, Division of Research, Graduate School of Business Administration, Harvard University, Boston (1970).
11. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
12. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
13. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
14. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
15. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
16. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
17. R. G. Walker, The judgement factor in investment decisions, Harvard Business Review 39 (2), 93-99 (1961); W. W. Haynes and M. B. Solomon, A misplaced emphasis in capital budgeting, The Quarterly Review of Economic & Business 2 (1), 39-46 (1962); J. J. Neuhauser and J. A. Viscione, How managers feel about advanced capital budgeting methods, Management Review (November), 16-22 (1973); R. W. Skeddle, Major capital decisions and technological change, Omega 1 (5), 551-564 (1973); R. F. Vandell and P. J. Stonich, Capital budgeting: theory or results?, Financial Executive (August), 46-56 (1973); R. H. Hayes and W. J. Abernathy, Managing our way to economic decline, Harvard Business Review 58 (4), (1980); G. Pearson, The strategic discount - Protecting new business projects against DCF, Long Range Planning 19 (1), 18-24 (1986).
18. C. Y. Baldwin, How capital budgeting deters innovation - and what to do about it, Research-Technology Management 34 (6), 39-45 (1991); C. Y. Baldwin and K. B. Clark, Capabilities and capital investment: new perspective on capital budgeting, Journal of Applied Corporate Finance 5 (2), 67-82 (1992); M. E. Porter, Capital choices: Changing the way America invests in industry, Journal of Applied Corporate Finance 5 (2), 4-16 (1992); M. E. Porter, Capital disadvantage: America's failing capital investment system, Harvard Business Review 70 (5), 65-82 (1992); C. Y. Baldwin and K. B. Clark (1994) op. cit.
19. C. Y. Baldwin, How capital budgeting deters innovation - and what to do about it, Research-Technology Management 34 (6), 39-45 (1991); C. Y. Baldwin and K. B. Clark, Capabilities and capital investment: new perspective on capital budgeting, Journal of Applied Corporate Finance 5 (2), 67-82 (1992); M. E. Porter, Capital choices: Changing the way America invests in industry, Journal of Applied Corporate Finance 5 (2), 4-16 (1992); M. E. Porter, Capital disadvantage: America's failing capital investment system, Harvard Business Review 70 (5), 65-82 (1992); C. Y. Baldwin and K. B. Clark (1994) op. cit.
20. C. Y. Baldwin, How capital budgeting deters innovation - and what to do about it, Research-Technology Management 34 (6), 39-45 (1991); C. Y. Baldwin and K. B. Clark, Capabilities and capital investment: new perspective on capital budgeting, Journal of Applied Corporate Finance 5 (2), 67-82 (1992); M. E. Porter, Capital choices: Changing the way America invests in industry, Journal of Applied Corporate Finance 5 (2), 4-16 (1992); M. E. Porter, Capital disadvantage: America's failing capital investment system, Harvard Business Review 70 (5), 65-82 (1992); C. Y. Baldwin and K. B. Clark (1994) op. cit.
21. C. Y. Baldwin, How capital budgeting deters innovation - and what to do about it, Research-Technology Management 34 (6), 39-45 (1991); C. Y. Baldwin and K. B. Clark, Capabilities and capital investment: new perspective on capital budgeting, Journal of Applied Corporate Finance 5 (2), 67-82 (1992); M. E. Porter, Capital choices: Changing the way America invests in industry, Journal of Applied Corporate Finance 5 (2), 4-16 (1992); M. E. Porter, Capital disadvantage: America's failing capital investment system, Harvard Business Review 70 (5), 65-82 (1992); C. Y. Baldwin and K. B. Clark (1994) op. cit.
22. C. Y. Baldwin, How capital budgeting deters innovation - and what to do about it, Research-Technology Management 34 (6), 39-45 (1991); C. Y. Baldwin and K. B. Clark, Capabilities and capital investment: new perspective on capital budgeting, Journal of Applied Corporate Finance 5 (2), 67-82 (1992); M. E. Porter, Capital choices: Changing the way America invests in industry, Journal of Applied Corporate Finance 5 (2), 4-16 (1992); M. E. Porter, Capital disadvantage: America's failing capital investment system, Harvard Business Review 70 (5), 65-82 (1992); C. Y. Baldwin and K. B. Clark (1994) op. cit.
23. W. L. Currie, The Strategic Management of Advanced Manufacturing Technology, CIMA, London (1992); W. L. Currie op. cit.; T. C. Jones, W. L. Currie and D. Dugdale, Accounting and technology in Britain and Japan: learning from field research, Management Accounting Research 4, 109-137 (1993); C. Carr, C. Tomkins and B. Bayliss, Strategic Investment Decisions, Avebury, Aldershot (1994).
24. W. L. Currie, The Strategic Management of Advanced Manufacturing Technology, CIMA, London (1992); W. L. Currie op. cit.; T. C. Jones, W. L. Currie and D. Dugdale, Accounting and technology in Britain and Japan: learning from field research, Management Accounting Research 4, 109-137 (1993); C. Carr, C. Tomkins and B. Bayliss, Strategic Investment Decisions, Avebury, Aldershot (1994).
25. W. L. Currie, The Strategic Management of Advanced Manufacturing Technology, CIMA, London (1992); W. L. Currie op. cit.; T. C. Jones, W. L. Currie and D. Dugdale, Accounting and technology in Britain and Japan: learning from field research, Management Accounting Research 4, 109-137 (1993); C. Carr, C. Tomkins and B. Bayliss, Strategic Investment Decisions, Avebury, Aldershot (1994).
26. W. L. Currie, The Strategic Management of Advanced Manufacturing Technology, CIMA, London (1992); W. L. Currie op. cit.; T. C. Jones, W. L. Currie and D. Dugdale, Accounting and technology in Britain and Japan: learning from field research, Management Accounting Research 4, 109-137 (1993); C. Carr, C. Tomkins and B. Bayliss, Strategic Investment Decisions, Avebury, Aldershot (1994).
27. C. Y. Baldwin and C. Y. Clark (1994) op. cit.
28. C. Y. Baldwin and C. Y. Clark (1994) op. cit., p. 78.
29. E. Segelod, Resource Allocation in Divisionalized Groups, Avebury, Aldershot (1996).
30. O. Renck, Investeringsbedömning i några svenska företag, Norstedts, Stockholm (1966)
31. B. Tell, Investeringskalkylering i praktiken, Studentlitteratur, Lund (1978).
32. D. F. Istvan, Capital Expenditure Decisions, Indiana Business Report, No. 33, Indiana University, Bloomington, Ind. (1961); O. Renck op. cit.; S. P. Dulman op. cit.
33. D. F. Istvan, Capital Expenditure Decisions, Indiana Business Report, No. 33, Indiana University, Bloomington, Ind. (1961); O. Renck op. cit.; S. P. Dulman op. cit.
34. D. F. Istvan, Capital Expenditure Decisions, Indiana Business Report, No. 33, Indiana University, Bloomington, Ind. (1961); O. Renck op. cit.; S. P. Dulman op. cit.
35. O. Renck op. cit.
36. J. Edgren, E. Rhenman and P.-H. Skärvad, Divisionalisering och därefter, Management Media, Stockholm (1983).
37. B. Gandemo, Investeringar i företag, SIND 1983: 5, Liber, Stockholm (1983).
38. B. Gandemo op. cit.
39. W. W. Heller, The anatomy of investment decisions, Harvard Business Review XXIX (2), 95-103 (1951).
40. J. Dean, Capital Budgeting, Columbia University Press, New York (1951).
41. R. W. Scapens, J. T. Sale and P., Tikkas, Financial Control of Divisional Capital Investment, The Institute of Cost and Management Accounts, London (1982); R. W. Mills and P. J. A. Herbert, Corporate and Divisional Influence in Capital Budgeting, The Chartered Institute of Management Accountants, London (1987).
42. R. W. Scapens, J. T. Sale and P., Tikkas, Financial Control of Divisional Capital Investment, The Institute of Cost and Management Accounts, London (1982); R. W. Mills and P. J. A. Herbert, Corporate and Divisional Influence in Capital Budgeting, The Chartered Institute of Management Accountants, London (1987).
43. D. F. Istvan, D. F. op. cit.; R. W. Scapens, J. T. Sale and P. A. Tikkas op. cit.
44. D. F. Istvan, D. F. op. cit.; R. W. Scapens, J. T. Sale and P. A. Tikkas op. cit.
45. C. Y. Baldwin and K. B. Clark (1994) op. cit.
46. T. K. Mukherjee, The capital budgeting process of large U.S. firms, Managerial Finance 14 (2/3), 28-35 (1988).
47. R. W. Scapens, J. T. Sale and P. A. Tikkas op. Cit.; R. W. Mills and P. J. A. Herbert op. cit.
48. R. W. Scapens, J. T. Sale and P. A. Tikkas op. Cit.; R. W. Mills and P. J. A. Herbert op. cit.
49. R. W. Scapens, J. T. Sale and P. A. Tikkas op. cit.
50. J. T. Sale and R. W. Scapens, The control of capital investment in divisionalized companies, Management Accounting (NAA) 64 (4), 24-29 (1982).
51. D. F. Istvan op. cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
52. D. F. Istvan op. cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
53. D. F. Istvan op. cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
54. T. K. Mukherjee, op. cit. p.31.
55. J. A. Hendricks, Capital budgeting practice including adjustments, Managerial Planning (1), 22-28 (1983)
56. R. A. Pohlman, E. S. Santiago and F. L. Markel, Cash flow estimation practice of large firms, Financial Management 7 (2), 71-78 (1988).
57. B. Tell op. cit.; E. Segelod op. cit.
58. B. Tell op. cit.; E. Segelod op. cit.
59. J. T. Sale and R. W. Scapens op. cit.
60. D. F. Istvan op. Cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
61. D. F. Istvan op. Cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
62. D. F. Istvan op. Cit.; J. T. Sale and R. W. Scapens op. cit.; T. K. Mukherjee op. cit.
63. R. Pike and M. B. Wolfe, Capital budgeting for the 1990s, The Chartered Institute of Management Accountants, London (1988).
64. J. A. Hendricks op. cit.; T. P. Klammer and M. C. Walker, The continuing increase in the use of sophisticated capital budgeting techniques, California Management Review XXVII (1), 137-148 (1984).
65. J. A. Hendricks op. cit.; T. P. Klammer and M. C. Walker, The continuing increase in the use of sophisticated capital budgeting techniques, California Management Review XXVII (1), 137-148 (1984).
66. I. Hägg, Reviews of capital investments, Research Report No. 3, Uppsala, Department of Business Studies, Uppsala University (1977); C. W. Neale and D. E. A. Holmes, Post-auditing capital projects, Long Range Planning 23 (4), 88-96 (1990); C. W. Neale, The benefits derived from post-auditing investment projects, Omega 19 (2/3), 113-120 (1991).
67. I. Hägg, Reviews of capital investments, Research Report No. 3, Uppsala, Department of Business Studies, Uppsala University (1977); C. W. Neale and D. E. A. Holmes, Post-auditing capital projects, Long Range Planning 23 (4), 88-96 (1990); C. W. Neale, The benefits derived from post-auditing investment projects, Omega 19 (2/3), 113-120 (1991).
68. I. Hägg, Reviews of capital investments, Research Report No. 3, Uppsala, Department of Business Studies, Uppsala University (1977); C. W. Neale and D. E. A. Holmes, Post-auditing capital projects, Long Range Planning 23 (4), 88-96 (1990); C. W. Neale, The benefits derived from post-auditing investment projects, Omega 19 (2/3), 113-120 (1991).
69. A. Sangster, Capital investment appraisal techniques: A survey of current usage, Journal of Business Finance & Accounting, 20 (3), 307-332 (1993); R. Pike, a longitudinal survey on capital budgeting practices, Journal of Business Finance & Accounting 23 (1), 79-92 (1996).
70. A. Sangster, Capital investment appraisal techniques: A survey of current usage, Journal of Business Finance & Accounting, 20 (3), 307-332 (1993); R. Pike, a longitudinal survey on capital budgeting practices, Journal of Business Finance & Accounting 23 (1), 79-92 (1996).
71. T. Klammer and M. C. Walker op. cit.; J. R. Canada and N. P. Miller, Review of surveys on use of capital investment evaluation techniques, The Engineering Economist 30 (2), 193-200 (1985).
72. T. Klammer and M. C. Walker op. cit.; J. R. Canada and N. P. Miller, Review of surveys on use of capital investment evaluation techniques, The Engineering Economist 30 (2), 193-200 (1985).
73. E. Segelod op. cit.
74. M. Freeman and G. Hobbes, Capital budgeting: theory versus practice, Australian Accountant 61 (8), 36-41 (1991).
75. J. D. Blazouke, I. Carlin and S. H. Kim, Current capital budgeting practices in Canada, CMA Magazine 62 (2), 51-54 (1988).
76. U.-W. Kim and J. Song, U. S., Korea, & Japan: accounting practices in three countries, Management Accounting (NAA), LXXII (2), 26-30 (1990); M. D. Shields, C. W. Chow, Y. Kato and Y. Nakagawa, Management accounting practices in the U.S. and Japan: comparative survey findings and research implications, Journal of International Financial Management and Accounting 3 (1), 61-77 (1991).
77. U.-W. Kim and J. Song, U. S., Korea, & Japan: accounting practices in three countries, Management Accounting (NAA), LXXII (2), 26-30 (1990); M. D. Shields, C. W. Chow, Y. Kato and Y. Nakagawa, Management accounting practices in the U.S. and Japan: comparative survey findings and research implications, Journal of International Financial Management and Accounting 3 (1), 61-77 (1991).
78. C. S. Patterson, Investment decision criteria used by listed New Zealand companies, Accounting and Finance 29 (2), 73-89 (1989).
79. I.-W. Kim and J. Song op. cit.
80. S. Yard, Kalkyllogik och kalkylkrav, Lund University Press, Lund (1987); B. Andersson, Kapitalkostnader och avkastningskrav, Statens Energiverk, Stockholm (1988).
81. S. Yard, Kalkyllogik och kalkylkrav, Lund University Press, Lund (1987); B. Andersson, Kapitalkostnader och avkastningskrav, Statens Energiverk, Stockholm (1988).
82. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
83. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
84. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
85. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
86. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
87. R. W. Scapens, J. T. Sale and P. Tikkas op. cit.; C. J. Jones, Financial planning and control practices in U.K. companies: a longitudinal study, Journal of Business Finance & Accounting, 13 (2), 161-185 (1986), R. W. Mills and P. J. A. Herbert op. cit.; R. W. Mills, Capital budgeting - the state of the art, Long Range Planning 21 (4), 76-81 (1988); A. Sangster op. cit.; R. Pike op. cit.
88. T. P. Klammer and M. C. Walker op. cit.;
89. A. K. Reichert, J. S. Moore and E. Byler, Financial analysis among large U.S. corporations: recent trends and the impact of the personal computer, Journal of Business Finance & Accounting 15 (4), 469-485 (1988);
90. W. D. Cooper, M. F. Cornick and A. Redmon, Capital budgeting: a 1990 study of Fortune 500 company practice, Journal of Applied Business Research 8 (3), 20-23 (1992);
91. D. S. Remer, S. B. Stokdyk and M. Van Driel, Survey of project evaluation techniques currently used in industry, International Journal of Production Economics 32 (1), 103-115 (1993);
92. J. M. Poterba and L. H. Summers, A CEO survey of U.S. companies' time horizons and hurdle rates, Sloan Management Review 36 (Fall), 43-53 (1995).
93. J. R. Canada and N. P. Miller op. cit.
94. D. J. Oblak and R. J. Helm, Jr., Survey and analysis of capital budgeting methods used by multinationals, Financial Management, (Winter), 37-41 (1980); J. A. Hendricks op. cit.; S. H. Kim, T. Crick and E. J. Farragher, Foreign capital budgeting practice used by the U.S. and non-U.S. multinational companies, The Engineering Economist, 29 (3), 207-215 (1984).
95. D. J. Oblak and R. J. Helm, Jr., Survey and analysis of capital budgeting methods used by multinationals, Financial Management, (Winter), 37-41 (1980); J. A. Hendricks op. cit.; S. H. Kim, T. Crick and E. J. Farragher, Foreign capital budgeting practice used by the U.S. and non-U.S. multinational companies, The Engineering Economist, 29 (3), 207-215 (1984).
96. D. J. Oblak and R. J. Helm, Jr., Survey and analysis of capital budgeting methods used by multinationals, Financial Management, (Winter), 37-41 (1980); J. A. Hendricks op. cit.; S. H. Kim, T. Crick and E. J. Farragher, Foreign capital budgeting practice used by the U.S. and non-U.S. multinational companies, The Engineering Economist, 29 (3), 207-215 (1984).
97. R. Pike and M. B. Wolfe op. cit.
98. L. J. Gitman and V. A. Mercurio, Cost of capital techniques used by major U.S. Firms, Financial Management 11 (4), 21-29 (1982); T. K. Mukherjee op. Cit.; J. M. Poterba and L. H. Summers op. cit.
99. L. J. Gitman and V. A. Mercurio, Cost of capital techniques used by major U.S. Firms, Financial Management 11 (4), 21-29 (1982); T. K. Mukherjee op. Cit.; J. M. Poterba and L. H. Summers op. cit.
100. L. J. Gitman and V. A. Mercurio, Cost of capital techniques used by major U.S. Firms, Financial Management 11 (4), 21-29 (1982); T. K. Mukherjee op. Cit.; J. M. Poterba and L. H. Summers op. cit.
101. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
102. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
103. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
104. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
105. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
106. J. S. McCallum, The net present value method: part of our investment problem, Business Quarterly 52 (2), 7-9 (1987); G. Pearson, Why the Japanese Dominate, Accountancy 99 (1122), 84-85 (1987); B. C. Reimann, Why bother with risk adjusted hurdle rates?, Long Range Planning 23 (3), 57-65 (1990); M. T. Jacobs, Short-Term America: The Causes and Cures of Our Business Myopia, Harvard Business School Press, Cambridge, Mass. (1991); H. Barton, D. Brown, J. Cound, P. Marsh, and K. Willey, Does top management add value to investment decisions?, Long Range Planning 25 (5), 43-58 (1992); J. M. Poterba and L. H. Summers op. cit.
107. D. F. Scott and J. W. Petty, Capital budgeting practices in large American firms, The Financial Review 19, 111-123.
108. B. Gandemo op. cit.; O. Arwidi and S. Yard, Investment planning in some Swedish companies - criteria and uses, Scandinavian Journal of Management Studies, (May), 271-296 (1985).
109. B. Gandemo op. cit.; O. Arwidi and S. Yard, Investment planning in some Swedish companies - criteria and uses, Scandinavian Journal of Management Studies, (May), 271-296 (1985).
110. M. Goold and A. Campbell, Strategies and Styles: The Role of the Centre in Managing Diversified Corporations, Basil Blackwell, Oxford (1987); M. Goold and A. Campbell, Managing the diversified corporation: the tensions facing the chief executive, Long Range Planning 21 (4), 12-24 (1988); E. Segelod, Corporate control of investments and management styles, International Journal of Production Economics 43, pp. 227-237 (1996).
111. M. Goold and A. Campbell, Strategies and Styles: The Role of the Centre in Managing Diversified Corporations, Basil Blackwell, Oxford (1987); M. Goold and A. Campbell, Managing the diversified corporation: the tensions facing the chief executive, Long Range Planning 21 (4), 12-24 (1988); E. Segelod, Corporate control of investments and management styles, International Journal of Production Economics 43, pp. 227-237 (1996).
112. M. Goold and A. Campbell, Strategies and Styles: The Role of the Centre in Managing Diversified Corporations, Basil Blackwell, Oxford (1987); M. Goold and A. Campbell, Managing the diversified corporation: the tensions facing the chief executive, Long Range Planning 21 (4), 12-24 (1988); E. Segelod, Corporate control of investments and management styles, International Journal of Production Economics 43, pp. 227-237 (1996).
113. M. Ross, Capital budgeting practices of twelve large manufacturers, Financial Management, (Winter), 15-22 (1986); C. Y. Baldwin op. cit.; C. -Y-. Baldwin and K. B. Clark (1994) op. cit. .
114. M. Ross, Capital budgeting practices of twelve large manufacturers, Financial Management, (Winter), 15-22 (1986); C. Y. Baldwin op. cit.; C. -Y-. Baldwin and K. B. Clark (1994) op. cit. .
115. M. Ross, Capital budgeting practices of twelve large manufacturers, Financial Management, (Winter), 15-22 (1986); C. Y. Baldwin op. cit.; C. -Y-. Baldwin and K. B. Clark (1994) op. cit. .
116. D. F. Istvan op. cit.
117. O. Renck op. cit.
118. Statistics Sweden, Statistiska meddelanden, F 13 SM 9602 (1996)
119. D. F. Istvan op. cit.
120. O. Renck op. cit.
121. Statistics Sweden op. cit.
122. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
123. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
124. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
125. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
126. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
127. P. K. Mills, J. L. Hall, J. K. Leidecker and N. Margulies, Flexiform: a model for professional service organizations, Academy of Management Review 8 (1), 118-131 (1983); P. K. Mills, Self-management: its control and relationship to other organizational properties, Academy of Management Review 8 (3), 445-453 (1983); J. A. Raelin, An anatomy of autonomy: managing professionals, The Academy of Management Executive III (3), 216-228 (1989); L. Fitzgerald, R. Johnston, T. J. Brignall, R. Silvestro and C. Voss, Performance Measurement in Service Businesses, CIMA, London (1991); T. J. Fogarty, Organizational socialization in accounting firms: a theoretical framework and agenda for future research, Accounting, Organizations and Society 17 (2), 129-149 (1992); M. Alvesson, Management of Knowledge-Intensive Companies, de Gruyter, Berlin (1995).
128. J. Johanson and L.-G. Mattsson, Marketing investments and market investments in industrial network, International Journal of Research in Marketing 2, 185-195 (1985).
129. F. Höllsten, Personalekonomi och det goda: Om etik och effektivitet i arbetet, BAS, Göteborg (1997).
130. D. S. Remer, S. B. Stokdyk and M. Van Driel op. cit.; E. P. Przybylowicz and T. W. Faulkner, Kodak applies strategic intent to the management of technology, Research Technology Management 36 (1), 31-38 (1993).
131. D. S. Remer, S. B. Stokdyk and M. Van Driel op. cit.; E. P. Przybylowicz and T. W. Faulkner, Kodak applies strategic intent to the management of technology, Research Technology Management 36 (1), 31-38 (1993).
132. E. Segelod, The content and role of the investment manual - a research note, Management Accounting Research 8 (2), 221-232 (1997).
133. D. F. Istvan op. cit.; T. K. Mukherjee op. cit..
134. D. F. Istvan op. cit.; T. K. Mukherjee op. cit..
135. O. Renck op. cit.
136. B. Tell op. cit.