The instrument of this study was a 33-item questionnaire structured to cover all the variables under study and divided into
two sections. Section A had five items and was meant to collect data on the personal and background data of the
respondents, such as rank, years of service, age, educational qualification and sex.
Section B was divided into two sub-scales. Sub-scale one had 12 items designed to collect information on the companies‟
return on the adoption of NPV model, capital budgeting and discounting capital budgeting models. Sub-scale two on the
other hand had 16-items design to measure the return on investment, managerial decision, strategic planning and non
discounted capital budgeting criteria.
The questionnaire wasused to collect information from the respondents. Data collected using questionnaire were coded,
analyzed and tested to answer the research questions and hypotheses.