نویسندگان
1 دانشگاه تهران
2 دانشگاه مالک اشتر
چکیده
کلیدواژهها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
This article reports the results of a survey of executives of companies listed on the Tehran Stock Exchange regarding their companiesâ capital budgeting practices and the major factors influencing their practices. The results show that the majority of responding companies use formal techniques to evaluate proposed capital investments. Of these companies, the majority use a discounted cash flow technique as the primary measure for evaluating capital investment proposals. Sensitivity analysis and Decision tree analysis are the most commonly-used risk assessment techniques. Accounting return on equity and the CAPM are most popular used techniques in Calculating the Cost of Equity in Iran. The most important objectives in capital budgeting are increase future cash flow and Growth in market shares followed by growth in long term earnings.The results also show that chief financial officer educational background and size of annual capital investment (increase in Net Fixed Assets) influence capital budgeting analysis technique usage.
کلیدواژهها [English]
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