The purpose of this study is to investigate the capital budgeting and financing decisions of UK and US multinational enterprises. Following a survey approach, this study examines the impact that the general equilibrium and the disequilibrium schools of reasoning have upon international investment and financing decisions of the multinational. Further, the degree of centralisation in financial policy is investigated in the light of the two schools of thought which partition corporate finance theory. A conjoint methodology is utilised in order to evaluate the gravity of various environmental issues upon the foreign direct investment decision as well as the utilities for discrete levels of those determinants. The research inquiry is enriched with in-depth interviews with fourteen senior finance managers of British based multinational companies.