Providing comment on the roles and responsibilities of not-for-profit directors was the challenge for panellists at a recent Australian Institute of Company Directors (AICD) Not-for-Profit Directorship event.Adjunct Professor David Gilchrist, joined panellists Fiona Kalaf, Art Gallery of WA...

For the last 40 years, academics advocated the use of the traditional Discounted CashFlow (DCF) techniques but these suggestions were ignored by practitioners for a longtime. The Net Present Value (NPV), Internal Rate of Return (IRR) and Present ValuePayback Period (PVPP) are now some of the...

In an experiment, we model two stylized facts about capital budgeting practice, budgetary slack creation and delegation of decision-making authority. In our setting, under centralization, headquarters announces a budget, the division manager gives a cost report, and headquarters decides on the...

The academic community has tried to convince corporate business managersthat the capital budgeting decision-making process can be made more effectiveby using more sophisticated capital budgeting techniques. There are differentcapital budgeting tools and techniques available. The question that...

This paper proposes an improved approach to risk assessment of generation investment in the new deregulated environment using the option pricing theory. A more realistic model for electricity price in the application of real option pricing method for generation asset valuation is proposed, which...

Organizational Capital Budgeting Model (OCBM) is a general theory of capital budgeting that incorporates traditional capital budgeting theories and the consideration about firm's information/ organization structure. The traditional financial capital budgeting model is a special case of OCBM....

Information technology is significantly changing the operating practices of an increasingnumber of companies globally. These developments have important implications for theaccounting profession and in particular accounting practices in the twenty-first century.This study examines the...

Purpose ? Financial information about costs and return on investments are of key importance to strategic decision-making but also in the context of process improvement or business engineering. In this paper we propose a value-oriented approach to business process modeling based on key concepts...

Civil Infrastructure is needed both in the developed world and in developing countries. However, governments alone can no longer deliver the much needed projects mainly because of lack of money, but also due to the lack of technical skills and a changing type of citizenry. In today’s world,...

Investment appraisal techniques (TAT) range from quantitative (financially based)techniques to qualitative (non-financially based) techniques, and represent tools thatmay be applied during IT/IS evaluation to assess the impact (value, worth or usefulness) of information systems on the...