资料简介: 厦门大学管理学院博士研究生课程报告八 高级投资项目管理和经济效益评价 —— 理论、方法和实践 厦门大学管理学院 吴世农 Advanced Capital Budgeting ——Theory, Methods & Applications Wu Shinong School of Management Xiamen University Advanced Topics in Capital Budgeting I. What is Capital Budgeting? Capital=Fixed Assets used in production/service; Budgeting=Plan detailing projected cash inflows and outflows during some future period, thus “Capital Budgeting” outlines the planned expenditures on fixed assets. 1. Multi-concepts for Capital Budgeting (1) Capital Investment Analysis & Decision (2) Economic Evaluation of Investment Projects (3) Technological Economics (4) Investment Feasibility Study 2. A Formal Definition of Capital Budgeting Capital budgeting is a filed of finance concerned with cost and benefit, and return and risk derived from investment project undertaken by a firm. The capital budgeting is a procedure include a set of systematic techniques dealing with how to evaluate and select investment projects under certainty or uncertainty.