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Investing in information technology allows firms to enhance their capabilities and performance and in doing so grow and create value. Yet we still lack a detailed understanding about how this process occurs. In this paper we are able to trace out the pathway from identifying an opportunity to invest in ICT, through the decision to realise an investment or not, and if it does progress at what scale. Using a large bespoke UK business survey about investment decision-making, our initial results show that 72% of firms had an ICT investment opportunity but, of those who had an opportunity, only 70% took advantage of their opportunity. Of those that did the scale of investment was between £50,000 and £100,000 on average. ICT opportunities, investments, and scale of investment were increasing in firm size but negatively related to firm age. Investment scale rose as the ability to secure equity funding increased. In this respect, smaller firms may be at a relative disadvantage in terms of their ability to take advantage of ICT opportunities and this is problematic as they are also less likely to identify opportunities per se. [ABSTRACT FROM AUTHOR]

We present and critically examine the links between the role of formal appraisal procedures, appraisal teams, and project champions and their influence in the selection of information communication technology projects in the Czech Republic and the UK. Our research is empirical and uses comparative analysis and exploratory descriptive analysis to interpret the findings. We draw on the economic, management and consensus-performance literature, and optimism bias theory to support our research. Our findings show significant differences in the practices between the Czech Republic and the UK, which we believe are the result of cultural and economic diversities. There is a high level of involvement of a project champion in the selection of projects with concern being expressed over their excessive/biased influence in the decision-making process. An important finding from our research reveals that adopting clearly defined appraisal/selection procedures may reduce this biased influence. As project failure can result from the influence of a project champion at the project selection stage, it is important to fill this perceived gap in the literature. The research is the only empirical study of its kind conducted simultaneously in the Czech Republic and the UK. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to identify current practice in respect of the appraisal of both information communication technology (ICT) and non-ICT capital investments, and to elicit the opinions of senior executives on the various issues concerning such investment practices. Design/methodology/approach – Empirical research based on data from a postal questionnaire, designed around a factual and attitudinal survey. Findings – This research presents evidence of the financial and risk assessment models used by practitioners in the appraisal of both ICT and non-ICT capital projects. It shows that there was no significant difference between ICT and non-ICT appraisals in this respect. It does, however, show that there are significant differences between the two types of projects in respect to other important appraisal/evaluation issues. It also uncovers important issues regarding ICT globalisation, project champions, post audits and appraisal teams. Research limitations/implications – This research does not identify the approach adopted, or the models used, to appraise strategic issues. This is an area for future research. Practical implications – This research presents data that will assist both practitioners and academics in a greater understanding of the appraisal of both ICT and non-ICT projects, which will pave the way to better decision making in the future. Originality/value – It is believed that this is possibly the only survey to simultaneously address the appraisal issues concerning both ICT and non-ICT projects. [ABSTRACT FROM AUTHOR]

The article discusses the conditions necessary to foster photovoltaic (PV) technologies deployment within the UK electricity sector. It explores the incentives to invest in PV technologies by assessing the financial viability of PV system investments in the UK. The analysis focuses on a set of target PV technologies and applications for the domestic sector. First, it provides a picture of profitability and incentives to invest in the targeted PV systems under current UK market, technical, and regulatory conditions. Then, the analysis looks at the role of policy and potential future technological development by exploring the impact of alternative policy instruments and technology cost reductions on the financial viability of investing in PV. The analysis shows that domestic PV investments are generally not profitable under current cost, market, and regulatory conditions. The initial capital costs are too high and the current policy framework is not enough to make PV systems financially viable. The introduction of high-enough feed-in tariffs, as well as the achievement of target cost reductions, would make PV systems financially attractive and would likely increase PV deployment in the UK. [ABSTRACT FROM AUTHOR]

Probably more surveys have been undertaken on the use of capital budgeting techniques than on any other accounting and finance topic. Despite the many surveys a number of issues remain unresolved. The surveys have consisted of a sample of either very large or very small companies and observations relating to the impact of company size have been derived from comparing the responses from different surveys undertaken at different points in time. The aim of this paper is to provide additional empirical evidence relating to some of the unresolved issues and to examine the impact of company size on the use of financial appraisal techniques. In particular, the paper concentrates on the treatment of inflation, the appraisal of advanced manufacturing technologies and examines whether the empirical evidence supports the claim that many companies use excessive discount rates. [ABSTRACT FROM AUTHOR]

Despite the rapid development of retailing as an academic subject in its own right, research into financial management in the retailing sector remains an underdeveloped area. This paper provides a brief synopsis of some of the main issues in corporate finance, with a view to highlighting areas which could constitute a worthwhile programme of research in the retailing sector. The availability of financial databases such as Extel and Datastream, containing timeseries of the accounts of retailing companies in the United Kingdom, makes this more than feasible. In an attempt to stimulate interest and avoid a completely abstract theoretical discussion, the paper also reports on the results of a survey on financial management practice, based on a sample of United Kingdom retailers. [ABSTRACT FROM AUTHOR]

This paper reports the findings of a longitudinal study of capital budgeting practices within 100 large UK companies between 1975 and 1992. Such an approach enables a more meaningful comparison of changes in investment practices over time and helps to clarify the confusing picture built up from comparison of prior surveys with different research designs and often low response rates. [ABSTRACT FROM AUTHOR]