Capital budgeting is one of the most crucial organisational tools for executing operational, business and corporate strategy. Manufacturing companies derive their profits from fixed assets that also deteriorate over time. This requires them to invest large amounts of capital to both maintain and expand their asset base. A number of studies both historic and recent produce conflicting results on the relationship between capital budgeting practices and financial performance.This study sets out to identify the current capital budgeting practices in the manufacturing/capital intensive companies operating in the South African environment, and determine the relationship between the financial performance and capital budgeting practices. The implications of the type of capital expenditure (i.e. maintenance and expansionary) are also discussed.The study was completed using primary and secondary data. Primary data consisted of capital budgeting practices data in some of the private and state-owned enterprises that was source using a survey questionnaire. The secondary data was sourced from financial statements on the McGregor BFA® database.The major finding of this research study was that, given the sufficient sub-sector analysis, there is a positive relationship between capital budgeting practices and financial performance. There were no specific individual practices that yielded significantly returns. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

Made available in DSpace on 2016-04-26T20:48:35Z (GMT). No. of bitstreams: 1 Camila Sapetti Bertoche de Lima.pdf: 445233 bytes, checksum: a3e6c8afa91e0c1575433fc7cee805d7 (MD5) Previous issue date: 2011-11-07 / This work aims to study the sub-sector rail freight in Brazil, between pre and postprivatization of the railway companies belonging to the Union, wich occurred in the 1990s. The study plan includes the process and results of privatization and regulation in the other countries, whose railroad has a key role in the transport matrix. Search finally assess whether the outcome of privatization was not satisfactory or for strengthening the sub-sector rail freight in Brazil / Este trabalho tem como objetivo estudar o subsetor de transporte ferroviário de cargas no Brasil, no período entre a pré e a pós-privatização das empresas ferroviárias pertencentes à União, ocorrida na década de 1990. O plano de estudo contempla o processo e os resultados das privatizações do subsetor, pesquisa de referências em modelos de privatização e regulação de outros países, cujo modal ferroviário tem um papel fundamental na matriz de transportes. Busca enfim avaliar se o resultado das privatizações foi ou não satisfatório para o fortalecimento do subsetor ferroviário de cargas no Brasil