吴世农 高级投资项目管理和经济效益评价.ppt

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. 厦门大学管理学院吴世农 Market Research Investment Sources Cost CBA Expenditures of Capitals Marketing Strategy Costs Income R Profits Statement Risk Investment Analysis D Management Assets Balance Liabilities Sheet Production Finance Cash Inflow Cashflow Repaymen