Resumo

SOUZA, Paula de; SCHNORRENBERGER, Darci  e  LUNKES, Rogério João. CAPITAL BUDGET PRACTICES PREVAILING ON INTERNATIONAL LITERATURE. Innovar [online]. 2016, vol.26, n.60, pp.103-116. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v26n60.55537.

This paper pretends to identify capital budget practices prevailing within international literature. In order to do this, three phases were developed: i) The construction of a bibliographic portfolio of capital budget practices with an emphasis on investment analysis, through the instrument of intervention ProKnow-C; ii) bibliometric analysis and iii) development of a pictorial representation of international practices. Bibliometric analysis allowed to study the papers as for authors, keywords and the periodicals that have published the most about this topic. Systemic analysis found that methods for investment analysis mainly cited are: Net Present Value, Internal Rate of Return, Modified Internal Rate of Return, Profitability Index, Payback, Accounting Rate of Return and Real Options. Additionally, the most commonly used methods for defining the rate of return are: Weighted Average Cost of Capital, Cost of Equity and Cost of Debt. Besides, a minimum acceptable rate of return for each investment made should be established, and, finally, evident methods of risk analysis in the studies are: Scenario Analysis, Sensitivity Analysis, Monte Carlo Simulation and Decision Trees.

Clasificación JEL: M115, M41, G31.

Palavras-chave : Capital budget practices; bibliometric analysis; investment analysis; rate of return; risk analysis.

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