The successful evaluation of capital projects requires not only
a thorough understanding of traditional techniques of capital
budgeting but advanced techniques as well. Riahi-Belkaoui examines
the multidimensionality of capital budgeting in its various facets
and in ways that executives with no special facility in the subject
can follow. He covers replacement decisions, capital rationing,
capital budgeting under inflation uncertainty, capital budgeting in
a multinational setting with attention to political risks, social
project evaluation, and concepts of wealth measurement and
distribution. The result is a wide ranging treatment for executive
decision makers in finance, banking, investment, and general
management, and for their colleagues with similar interests in the
academic community.
Riahi-Belkaoui begins by examining the principles underlying the
time value of money. In Chapter Two he introduces capital budgeting
and in Chapter Three moves to advanced capital budgeting. There he
discusses such advanced topics as replacement decisions, capital
rationing, and capital budgeting under uncertainty and inflation.
In Chapter Four he takes up the same issues associated with capital
budgeting but in a global context, and in Chapter Five, the
determination of political risk and its use in capital budgeting
internationally. Chapter Six compares the techniques of leasing
versus purchasing and their reliance on capital budgeting
techniques. In Chapter Seven he turns to the techniques of capital
budgeting applied to social projects, and ends the book with an
examination of the behavior and cognitive implications of wealth
measurement and distribution. This is a useful survey and
examination of the traditional and advanced techniques of capital
budgeting and their applications in domestic and international
contexts.
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