摘要:

This study examines the potential impact of a hypothetical 12 percent investment tax credit on new capital investments that require the introduction of new technology. Firms showed some support for this type of a tax credit. However, the purpose of giving a tax credit for investing in new technology is not simply to give a tax“break”to businesses. The underlying objective is to increase hiring, thereby stimulating employment. This research strongly suggests that this will not happen. The results cast a shadow on the impact of all new technology investments on job creation.

ISSN:0013-791X    

DOI:10.1080/00137919708903183

出版商:Taylor & Francis Group    

年代:1997

数据来源: Taylor

摘要:

In recent times, small business firms have created 80 percent of the new jobs in the United States. Thus, their methodology for capital investment decisions is very important, though it continues to be somewhat different from that used by larger business firms. A questionnaire survey with 232 small business respondents indicates that the payback method is still the preferred approach by 42.7 percent of the firms. Unlike many larger firms, their time horizon is often the period over which a financial institution will extend them funding. In any event, the “average” minimal payback period in the survey averaged 2.81 years, a time period far shorter than the useful life of the asset and one that would indicate a required return far higher than most firms anticipate. Somewhat encouraging was the increased use of discounted cash flow methods (27.6 percent), which is a higher rate of utilization than that indicated in other surveys of smaller firms over the last few decades.

ISSN:0013-791X    

DOI:10.1080/00137919708903184

出版商:Taylor & Francis Group    

年代:1997

数据来源: Taylor

摘要:

In this paper, an activity-based costing (ABC) system is described and a multi-period linear programming model is developed for a general investment decision problem related to advanced manufacturing systems. We newly interpret an accounting value associated with each manufacturing activity and derive an economic implication of the dual model in this paper. The economic interpretation of the dual formulation of ABC systems is useful for many managerial decision areas such as justifying activity costs already assigned, identifying activity investment opportunities, measuring an activity performance and productivity. A case example of planning for a robotic cellular manufacturing system (CMS) is given.

ISSN:0013-791X    

DOI:10.1080/00137919708903185

出版商:Taylor & Francis Group    

年代:1997

数据来源: Taylor

摘要:

The presented paper addresses the question of the NPV-compatibility of the Overall Rates of Return (ORRs), and analyses two project ranking procedures that were advocated in the recent contribution “Overall Rates of Return: Investment Basis, Reinvestment Rates and Time Horizons” by D.M. Shull(The Engineering Economist, Vol.39, No.2, Winter 1994, pp. 139-163). The paper indicates that the current definitions of the ORRs are not fully NPV-compatible, and it provides a generalized, NPV-compatible ORR definition. The paper further shows, using numerical examples, that the two project ranking procedures adopted by Shull are conceptually inadequate. It presents the correct approach to project-ranking, and proves that this approach can be used in conjunction with any NPV-compatible profitability criterion. Also, the paper addresses and rectifies some inaccurate statements and formulas in Shull's contribution. Finally, it is noted that Shull's Scale-Adjusted Return Method was, in fact, introduced nineteen years ago by P.J. Athanasopoulos (“A Note on the Modified Internal Rate Of Return and Investment Criterion, ”The Engineering Economist, Vol.23, No.2, Winter 1978, pp. 131-133).

ISSN:0013-791X    

DOI:10.1080/00137919708903186

出版商:Taylor & Francis Group    

年代:1997

数据来源: Taylor