投资项目财务评价指标释疑

内部收益率法与净现值法假定同一项目、同一时期内产生的现金流入会产生不同的再投资收益率,这种不切实际的假设容易导致择优决策的失误。同时,在需多期投资支出的项目分析中,目前计算方法下的内部收益率不能如实地反映项目的真实收益率。本文创立的分界贴现率、稳健收益率可帮助我们分别解决这两方面的问题。

Clearing up Suspicions of Appraisal Target of the Investment Plan

Internal income rate method and net present value method is the assumption that the same item and the cash inflow in the same period will have a different earning ratio of re-investment, this kind of impractical assumption causes fault according to the qualification policy-making. Meanwhile, in the project analysis that needs multi-period investment outlay, the internal income rate method under present computational methods cannot reflect the real earning ratio of the item. Selecting the best strategy by integrating the discount rate of dividing line with the earning ratio of re-investment, analyzing the feasibility by replacing the internal income rate method with the stabilize return ratio, both can increase the validity of strategy.