ARTÍCULO
TITULO

Capital budgeting under uncertainty: An empirical study

H. M.A. Parry    
C. Firer    

Resumen

AbstractThe practices of and attitudes towards risk analysis in South African industrial companies is studied. Major findings are that few companies use the sophisticated methods of risk analysis recommended in the financial literature; there is a wider use of quantitative techniques by the more capital intensive companies; there is general dissatisfaction with the application of these techniques in industry; companies perceive a need for more use of quantitative risk-analysis techniques to aid decision-making. It is hoped that a greater understanding of the current practices of risk-analysis techniques and the attitudes of decision-makers will assist in the selection of appropriate capital budgeting methodologies to improve investment decisions made under uncertainty.Die praktyk van, en die houding teenoor risiko-analise in Suid-Afrikaanse nywerheidsmaatskappye word bestudeer. Die belangrikste bevindinge is dat min maatskappye gebruik maak van die verfynde metodes van risikoanalise soos in finansiele literatuur bespreek; dat daar 'n groter toepassing is van kwantitatiewe tegnieke deur die meer kapitaalintensiewe ondernemings; dat daar algemene ontevredenheid oor die toepassing van die tegnieke heers; maatskappye besef die behoefte om in 'n groter mate gebruik te maak van die kwantatiewe risikometodes vir besluitneming. Daar word vertrou dat groter begrip van die lopende praktyk van risikoanalise en die houding van besluitnemers sal bydrae tot beter keuses van geskikte kapitaalbegrotingsmetodes om beleggingsbesluite te neem in onsekere omstandighede.

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