THE CAPITAL BUDGETING PROCESS OF LARGE U.S. FIRMS; AN ANALYSIS OF CAPITAL BUDGETING MANUALS.
Tarun K. Mukherjee
(Professor of Finance University of New Orleans.)
513
Abstract
In a departure from the usual questionnaire‐based survey, this study attempts to understand the capital budgeting process of large U.S. firms by examining capital budgeting manuals that Fortune 500 companies use to explain their respective capital budgeting policies and procedures. The paper presents some general observations regarding the capital budgeting process in a three‐stage framework: planning, appropriation, and audit.
Citation
Mukherjee, T.K. (1988), "THE CAPITAL BUDGETING PROCESS OF LARGE U.S. FIRMS; AN ANALYSIS OF CAPITAL BUDGETING MANUALS.", Managerial Finance, Vol. 14 No. 2/3, pp. 28-35. https://doi.org/10.1108/eb013598
Publisher
:MCB UP Ltd
Copyright © 1988, MCB UP Limited