Investment Appraisal
本书第二部分聚焦投资决策，说明国家需将国民收入用于投资而非消费，政府可通过资助和公共需求影响投资，企业应寻找机会并确保资本高效利用。
Financial management involves investment decisions, financing decisions and control of the resources resulting from those decisions. Part II of this book is devoted to investment decisions. To satisfy the ever‐expanding social and economic aspirations of its people, a nation must plan to increase its wealth. This can be achieved only if a substantial part of the national income is channelled into investment, rather than immediate consumption. Swiftly changing technology in a highly competitive international trading environment also calls for a growing proportion of resources to be diverted into research and development of new, high‐technology products. Governments can influence such investment by providing financial assistance and by creating demand from the public sector; but industry must also play its part by seeking opportunities for investment, ensuring that scarce capital is directed into the most productive uses.KeywordsCash FlowInvestment DecisionPayback PeriodAccounting RateDiscount Cash FlowThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.