Abstract
Evidence is produced to support the claim that management have not fully accepted the advice of academics in the use of sophisticated capital investment appraisal methods, with managers continuing to use the non-DCF methods alongside the IRR and NPV. The concern that some managers may even abandon formal financial and project risk assessment altogether has lead to the development of a new `profile' approach. The financial appraisal profile (FAP) model is described in detail and illustrated through the use of an illustrative case study.
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