Managerial discretion and the choice of capital budgeting techniques
The purpose of this study is to apply Hambrick and Finkelstein's (1987) framework of managerial discretion to the field of capital budgeting techniques (CBT). This study uses a qualitative method based on semi-structured interviews with 12 CFOs in Swedish high-growth small and medium-sized (SMEs) firms. The findings indicate that the choice of CBTs is largely enabled by individual forces and mainl
