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The Capital Budget: History and Future Directions
Author(s) -
Bozeman J. Lisle
Publication year - 1984
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00647
Subject(s) - capital budgeting , subject (documents) , capital (architecture) , budget process , economics , government (linguistics) , set (abstract data type) , public sector , boundary (topology) , accounting , public administration , public economics , finance , political science , computer science , economy , law , politics , project appraisal , linguistics , philosophy , archaeology , library science , history , mathematical analysis , mathematics , programming language
While there is a substantial body of literature concerning capital programming and budgeting in the private sector, there is only a modest literature on this subject in the public sector. Government researchers and public administration scholars have, for about seventy‐five years, recognized the value of budgeting for operating expenses and have tried to develop theoretical frameworks for the public budgeting process. However, very little of this attention has been devoted to capital budgeting. As Alan Steiss has stated,“ The theory of capital budgeting has not been set forth; rather the emphasis... has been on devising and improving the techniques of capital budgeting.” Michael White has called capital budgeting an “elusive subject” that “lacks clear definitions, organized traditions of inquiry, conceptual boundaries, standard questions, and reliable data sets.”