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    <subfield code="a">AIT RSPR no. SM-96-27</subfield>
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    <subfield code="a">Sharma, Indra Prasad</subfield>
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    <subfield code="a">Capital budgeting practices in private manufacturing firms in Nepal :</subfield>
    <subfield code="b">an exploratory study</subfield>
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    <subfield code="a">Bangkok :</subfield>
    <subfield code="b">Asian Institute of Technology,</subfield>
    <subfield code="c">1996</subfield>
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    <subfield code="v">no. SM-96-27</subfield>
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    <subfield code="a">A research report submitted in partial fulfillment of the requirement for the degree of Master  of Business Administration, School of Management</subfield>
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    <subfield code="a">Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 1996</subfield>
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    <subfield code="a">Capital budgeting practices followed by an industrial firm form the backbone for  developing its profitability and competency. This subject assumes greater significance now  than ever before, for private manufacturing sector in view of the increasing complexity and  business globalization. The approach of ad-hocism to capital investment decisions may entail  disaster. In spite of such a great significance, the holistic study of capital budgeting practices,  as far as national inquiry in Nepal and an academic study in depth is concerned, remains an  unexplored area.  The present study attempts to gain insight into the capital budgeting practices in the  private manufacturing sector in Nepal. The study is done using framework developed by the  author. The study also compares briefly the practices followed in India and USA/Japan. The  primary data collection is done through personal interview-cum-questionnaire with the  principle officer responsible for capital budgeting. Secondary data have been collected from  NEPSE, and other goverrunent agencies. The response level (11 out of 13) can be considered  to be sufficient and representative particularly in the light of currently staiied stock market,  data unavailability, and sensitive nature of information being sought for the study.  It is noted that, there is centralized capital budgeting . Mostly companies have a practice  of ad-hocism in capital investments decisions. They use Payback method for proposal  evaluation. In view of various sophisticated capital budgeting techniques used and better  capital budgeting system followed by private sector in USA/Japan and India, private  manufacturing firms in Nepal need to implement a good capital budgeting system and use  DCF techniques to evaluate investment proposals. </subfield>
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