Recently there has been a new interest in capital budgeting. The interest can be traced to two sources 1 lack of satisfaction with the way that standard NPV procedures perform, and 2 the development of new financial techniques and their application to corporate finance, notably the application of option pricing models. The first source creates the demand for a critical reevaluation of the accepted procedures of capital budgeting, the second provides the means for such an evaluation.
Managerial Finance – Emerald Publishing
Published: Feb 1, 1991