The capital budgeting manual

There has been very many postal surveys of capital budgeting practice, but almost no studies of the written routines that fix the practice of those groups that use a capital budgeting manual. This article fills this vacuum by describing and analysing the capital budgeting manuals used by major Swedish groups, most of whom are multinationals. Changes in the manuals during the last 30 years are studied using hvo earlier Swedish studies of manuals from the 60’s and 70’s. Comparisons are made with studies of capital budgeting practice from Anglo-Saxon countries