Slagmulder, RegineBruggeman, WernerVan Wassenhove, L.2017-12-022017-12-021995http://hdl.handle.net/20.500.12127/813In recent years, an increasing number of companies have been struggling to justify strategic technology investments using traditional capital budgeting systems. The existing accounting-based decision models (such as discounted cash-flow) are said to be no longer adequate to help evaluate investments in technological innovation, mainly because of the strategic, intangible nature of the benefits involved. Some light is shed on the problem by examining the capital budgeting practices of firms with regard to strategic investments in computer-integrated manufacturing (CIM) technologies. Questionnaire data are used to provide a better insight into ways in which manufacturing firms go about controlling major investments in new process technologies. In addition, tentative findings are presented about hypothesized relationships between characteristics of the investment decision making process and the perceived ex post financial performance of CIM investments.enInternational Journal of Production Economics1922339319141274858