Accounting, strategy and AMT investment

One strand in the current debate on AMT investment emphasises technical asp ects of investment appraisal. Another rails for a broader focus on wider de rision-making processes and strategic considerations. This paper seeks to m erge both sets of concerns. It uses two empirical studies of AMT decisions in a number of companies. The first demonstrates specific linkages between manufacturing strategies and financial justifications. The second explores mays in which connections between finance and strategy are constructed and how they are understood and evaluated by decisionmakers. We conclude that A MT proposals succeed by linking accounting information to strategic conside rations throughout the investment decision process. (C) 1998 Elsevier Scien ce Ltd. All rights reserved.