Financial Criteria and Techniques for Appraising Individual and Portfolios of Investments

INTRODUCTION With the increasing importance of capital investment selection in modern business the field has attracted a large body of interest in the literature of the last two decades. It is the purpose of the survey to trace this development from the use of simple financial criteria for assessing investments to the use of more sophisticated financial measures, techniques for assessing risk in investments and finally complex models for selecting portfolios of investments.