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Små företag - stora beslut

Hammar, Elias LU ; Odqvist, Eric LU and Pettersson, Adam LU (2024) FEKH69 20241
Department of Business Administration
Abstract (Swedish)
Examensarbetets titel: Små företag - stora beslut
Seminariedatum: 30 juni 2024.
Kurs: FEKH69, Examensarbete i redovisning på kandidatnivå, 15 högskolepoäng
Författare: Adam Pettersson, Elias Hammar, Eric Odqvist
Handledare: Johan Dergård
Examinator: Elin Funck
Nyckelord: Investeringsbeslut, investeringskalkyl, NPV, Payback, IRR, Barriärer,
påverkansfaktorer, SME
Syfte: Studien ämnar att uppfylla tre syften: vilka investeringskalkyler svenska SME-företag
använder sig av, vilka motiv som i sin tur ligger bakom detta val samt vilka faktorer som
slutligen påverkar investeringsbeslutet.
Metod: För att uppfylla studiens syften genomfördes en fallstudie i form av intervjustudie
utförd på sju små- och medelstora (SME)... (More)
Examensarbetets titel: Små företag - stora beslut
Seminariedatum: 30 juni 2024.
Kurs: FEKH69, Examensarbete i redovisning på kandidatnivå, 15 högskolepoäng
Författare: Adam Pettersson, Elias Hammar, Eric Odqvist
Handledare: Johan Dergård
Examinator: Elin Funck
Nyckelord: Investeringsbeslut, investeringskalkyl, NPV, Payback, IRR, Barriärer,
påverkansfaktorer, SME
Syfte: Studien ämnar att uppfylla tre syften: vilka investeringskalkyler svenska SME-företag
använder sig av, vilka motiv som i sin tur ligger bakom detta val samt vilka faktorer som
slutligen påverkar investeringsbeslutet.
Metod: För att uppfylla studiens syften genomfördes en fallstudie i form av intervjustudie
utförd på sju små- och medelstora (SME) tillverkningsföretag. Ytterligare data har samlats in
genom vetenskapliga artiklar och relevant litteratur.
Teoretiska perspektiv: Den teoretiska referensramen består av grundläggande teori kring
investeringar samt metoder och praxis för investeringskalkylen. Vidare innehåller den även
tidigare studier kring bakomliggande motiv för val av investeringsmetod samt faktorer som
anses påverka investeringsbeslut.
Resultat: Resultatet visar att samtliga undersökta företag använder payback-metoden för
investeringskalkylering. Valet av kalkylmetod motiveras av organisatoriska och ekonomiska
barriärer. Faktorer som erfarenhet, intuition, samt ägare och styrelsens roll påverkar
investeringsbesluten. Externa faktorer som räntor och stabilitet påverkar också beslutet.
Slutsats: Studien visar att svenska små och medelstora tillverkningsföretag främst använder
payback-metoden för investeringskalkylering, särskilt för expansionsinvesteringar.
Immateriella och ersättningsinvesteringar kalkyleras sällan formellt. Motivet bakom valet
grundar sig i organisatoriska och ekonomiska barriärer som bristande kunskap och resurser.
Erfarenhet och intuition dominerar ofta investeringsbesluten, medan externa faktorer som
höjd inflation och räntor inte minskat antalet investeringar. Företagen tar hänsyn till
omvärldsfaktorer som global uppvärmning och politisk instabilitet för att minimera risker. (Less)
Abstract
Title: Small Companies - Big Decisions
Seminar date: June 30, 2024
Course: FEKH69, Bachelor’s thesis in Accounting, 15 ECTS Credits.
Authors: Adam Pettersson, Elias Hammar, Eric Odqvist
Advisor: Johan Dergård
Examiner: Elin Funck
Key words: Investment decisions, Capital budgeting techniques, NPV, Payback, IRR,
Barriers, influencing factors, SME
Purpose: The study aims to fulfill three objectives: to identify the investment calculation
methods used by Swedish SME manufacturing companies, to explore the motives behind
these choices, and to examine the factors influencing investment decisions.
Theoretical perspectives: The theoretical framework includes fundamental investment
theory, methods, and practices for capital budgeting.... (More)
Title: Small Companies - Big Decisions
Seminar date: June 30, 2024
Course: FEKH69, Bachelor’s thesis in Accounting, 15 ECTS Credits.
Authors: Adam Pettersson, Elias Hammar, Eric Odqvist
Advisor: Johan Dergård
Examiner: Elin Funck
Key words: Investment decisions, Capital budgeting techniques, NPV, Payback, IRR,
Barriers, influencing factors, SME
Purpose: The study aims to fulfill three objectives: to identify the investment calculation
methods used by Swedish SME manufacturing companies, to explore the motives behind
these choices, and to examine the factors influencing investment decisions.
Theoretical perspectives: The theoretical framework includes fundamental investment
theory, methods, and practices for capital budgeting. It also incorporates previous studies on
the motives behind the choice of capital budgeting techniques and the factors influencing
investment decisions.
Methodology: To achieve the study's objectives, a case study was conducted through
interviews with seven small and medium-sized manufacturing companies (SMEs). Additional
data were collected through scientific articles and relevant literature.
Result: The results show that all the surveyed companies use the payback method as their
capital budgeting technique. The choice is driven by organizational and economic barriers.
Factors such as experience, intuition, and the roles of owners and the board influence
investment decisions. External factors such as interest rates and stability also influence the
investment decision.
Conclusions: The study reveals that Swedish SMEs within the manufacturing industry
primarily use the payback method for capital budgeting, especially for expansion
investments. Intangible and replacement investments are often not formally calculated. The
choice of method is influenced by organizational and economic barriers, such as lack of
knowledge and resources. Experience and intuition often dominate investment decisions,
while external factors like increased inflation and interest rates have not reduced the number
of investments. Companies also consider external factors like global warming and political
instability to minimize risks. (Less)
Please use this url to cite or link to this publication:
author
Hammar, Elias LU ; Odqvist, Eric LU and Pettersson, Adam LU
supervisor
organization
course
FEKH69 20241
year
type
M2 - Bachelor Degree
subject
keywords
Investeringsbeslut, investeringskalkyl, NPV, Payback, IRR, Barriärer, påverkansfaktorer, SME, Barriers, influencing factors, Investment decisions
language
Swedish
id
9165984
date added to LUP
2024-07-01 12:36:02
date last changed
2024-07-01 12:36:02
@misc{9165984,
  abstract     = {{Title: Small Companies - Big Decisions
Seminar date: June 30, 2024
Course: FEKH69, Bachelor’s thesis in Accounting, 15 ECTS Credits.
Authors: Adam Pettersson, Elias Hammar, Eric Odqvist
Advisor: Johan Dergård
Examiner: Elin Funck
Key words: Investment decisions, Capital budgeting techniques, NPV, Payback, IRR,
Barriers, influencing factors, SME
Purpose: The study aims to fulfill three objectives: to identify the investment calculation
methods used by Swedish SME manufacturing companies, to explore the motives behind
these choices, and to examine the factors influencing investment decisions.
Theoretical perspectives: The theoretical framework includes fundamental investment
theory, methods, and practices for capital budgeting. It also incorporates previous studies on
the motives behind the choice of capital budgeting techniques and the factors influencing
investment decisions.
Methodology: To achieve the study's objectives, a case study was conducted through
interviews with seven small and medium-sized manufacturing companies (SMEs). Additional
data were collected through scientific articles and relevant literature.
Result: The results show that all the surveyed companies use the payback method as their
capital budgeting technique. The choice is driven by organizational and economic barriers.
Factors such as experience, intuition, and the roles of owners and the board influence
investment decisions. External factors such as interest rates and stability also influence the
investment decision.
Conclusions: The study reveals that Swedish SMEs within the manufacturing industry
primarily use the payback method for capital budgeting, especially for expansion
investments. Intangible and replacement investments are often not formally calculated. The
choice of method is influenced by organizational and economic barriers, such as lack of
knowledge and resources. Experience and intuition often dominate investment decisions,
while external factors like increased inflation and interest rates have not reduced the number
of investments. Companies also consider external factors like global warming and political
instability to minimize risks.}},
  author       = {{Hammar, Elias and Odqvist, Eric and Pettersson, Adam}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Små företag - stora beslut}},
  year         = {{2024}},
}