A balanced and practical approach to capital management and budgeting Capital Management and Strategic Financial Decision-Making offers a detailed discussion of the theory, quantitative methods, and applications of capital budgeting. Comprehensive in scope, all the major topics in the field of capital investment are covered, including the various approaches to capital project evaluation. Financial managers and business leaders planning future strategies will look to this book for a helping hand in making long-term financial decisions. Anthony F. Herbst, PhD (El Paso, TX), teaches at the University of Texas, El Paso. He was a founding editor of the Journal of Financial Engineering and is the author of Analyzing and Forecasting Futures Prices (Wiley: 0471533122). Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.