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Capital Budgeting: the Romanian Credit Analysts’ Points of View

Ingrid Dragota (), Victor Dragotă (), Lucian Tatu, Daniel Traian Pele (), Nicoleta Vintilă () and Andreea Semenescu ()

The Review of Finance and Banking, 2011, vol. 03, issue 1, 039-045

Abstract: This study aims to disclose the methods and instruments used by the credit analysts in the most important Romanian banks regarding capital budgeting. It can be noticed that the dominant standpoint converges to the recommendations of the main reference works in corporate finance. Hence, indicators like profitability index, net present value or internal rate of return are preferred by the most part of the credit analysts. Among the techniques of risk quantification, the sensitivity analysis is the most commonly used method by Romanian creditors. About the discount rate used in investment valuation, the main part of the respondents recommends the rate of return for similar projects in the sector.

Date: 2011
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The Review of Finance and Banking is currently edited by Victor Dragota; Bogdan Negrea

More articles in The Review of Finance and Banking from Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante Strada Mihai Eminescu nr.13-15, sector 1, Bucuresti, Romania. Contact information at EDIRC.
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Handle: RePEc:rfb:journl:v:03:y:2011:i:1:p:009-045