FINANCIAL APPRAISAL TO SUPPORT TECHNOLOGICAL INVESTMENT

被引：12

作者：

WILKES, FM ^{[1
]}

SAMUELS, JM ^{[1
]}

机构：

[1] UNIV BIRMINGHAM,SCH BUSINESS,DEPT ACCOUNTING & FINANCE,BIRMINGHAM B15 2TT,W MIDLANDS,ENGLAND

来源：

LONG RANGE PLANNING | 1991年 / 24卷 / 06期

关键词：

D O I：

10.1016/0024-6301(91)90044-O

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Short termism inhibits U.K. investment in Advanced Manufacturing Technology (AMT) in four areas: appraisal methodologies; corporate governance; financial market forces; and macroeconomic regulation. High interest rates are not neutral between traditional processes investment and (AMT). We demonstrate the impact of high discount rates on AMT and long term investments. Bias against AMT investments arises from unsuitable means of financial appraisal, misuse of appropriate techniques and insufficient linkage with corporate strategy. A three stage methodology for appraising AMT investments is developed. We highlight the advantages of better informed and more involved providers of funds, and more varied macroeconomic controls are urged.

引用

页码：60 / 66

页数：7