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What determines the use of capital budgeting methods?: Evidence from Swedish listed companies
Högskolan Dalarna, Akademin Industri och samhälle, Nationalekonomi. Department of Trade, Industry and Business, HUI Research.
Högskolan Dalarna, Akademin Industri och samhälle, Företagsekonomi. Department of Trade, Industry and Business, HUI Research.ORCID-id: 0000-0002-5043-6289
2014 (engelsk)Inngår i: Journal of Finance and Economics, ISSN 2328-7284, Vol. 2, nr 4, s. 101-112Artikkel i tidsskrift (Fagfellevurdert) Published
Abstract [en]

Purpose: This paper aims to extend and contribute to prior research on the association between company characteristics and choice of capital budgeting methods (CBMs). Design/methodology/approach: A multivariate regression analysis on questionnaire data from 2005 and 2008 is used to study which factors determine the choice of CBMs in Swedish listed companies. Findings: Our results supported hypotheses that Swedish listed companies have become more sophisticated over the years (or at least less unsophisticated) which indicates a closing of the theory-practice gap; that companies with greater leverage used payback more often; and that companies with stricter debt targets and less management ownership employed accounting rate of return more frequent. Moreover, larger companies used CBMs more often. Originality/value: The paper contributes to prior research within this field by being the first Swedish study to examine the association between use of CBMs and as many as twelve independent variables, including changes over time, by using multivariate regression analysis. The results are compared to a US and a continental European study.

sted, utgiver, år, opplag, sider
Science and Education Publishing , 2014. Vol. 2, nr 4, s. 101-112
Emneord [en]
Capital budgeting, investment appraisal, unsophisticated
HSV kategori
Forskningsprogram
Komplexa system - mikrodataanalys, Allmänt Mikrodataaanalys - övrigt
Identifikatorer
URN: urn:nbn:se:du-12568DOI: 10.12691/jfe-2-4-1OAI: oai:DiVA.org:du-12568DiVA, id: diva2:624508
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Tilgjengelig fra: 2013-05-31 Laget: 2013-05-31 Sist oppdatert: 2016-06-03bibliografisk kontrollert
Inngår i avhandling
1. Four Papers on Top Management´s Capital Budgeting and Accounting Choices in Practice
Åpne denne publikasjonen i ny fane eller vindu >>Four Papers on Top Management´s Capital Budgeting and Accounting Choices in Practice
2012 (engelsk)Doktoravhandling, med artikler (Annet vitenskapelig)
sted, utgiver, år, opplag, sider
Uppsala: Uppsala universitet, 2012. s. 43
Serie
Doctoral thesis / Företagsekonomiska institutionen, Uppsala universitet, ISSN 1103-8454 ; 153
Emneord
Capital budgeting method, cost of capital estimation, accounting choice, goodwill, disclosure compliance
HSV kategori
Identifikatorer
urn:nbn:se:du-12551 (URN)
Disputas
2012-10-03, Hörsal 2, Kyrkogårdsgatan 10, 753 13 UPPSALA, Uppsala, 16:53 (svensk)
Opponent
Veileder
Tilgjengelig fra: 2013-05-31 Laget: 2013-05-24 Sist oppdatert: 2016-02-02bibliografisk kontrollert

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