Abstract

VECINO, Carlos Enrique; ROJAS, Silvia Carolina  and  MUNOZ, Yaromir. Capital budgeting practices in Colombia. estud.gerenc. [online]. 2015, vol.31, n.134, pp.41-49. ISSN 0123-5923.

The main purpose of this study is to identify the capital budgeting practices in Colombia. The method used to gather information was a questionnaire applied to 300 companies, using the data to perform a statistical descriptive analysis, which highlights the net present value, the internal rate of return and the benefit/cost ratio as the main criteria. An inferential analysis was conducted for the effect of several company characteristics on a utilitarian variable called ''proper use index''. This analysis led to the conclusion that the company size and the academic level of the decision makers are related to the criteria and practices in the capital budgeting process.

Keywords : Capital budgeting; Time value of money; Net present value; Internal rate of return; Benefit/cost ratio.

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