This book explores the complexities of capital budgeting as well as the opportunities to improve the decision process where risk and time are important elements. Designed to assist business decisions at all levels, the emphasis is on the applications of capital budgeting techniques to a variety of issues. These include the hugely significant buy versus lease decision which costs corporations billions each year. Current business decisions also need to be made considering the cross-border implications, and global business aspects, identifying the specific aspects of international investment decisions, which appear throughout the book.