Multiperiod analysis of a levered portfolio |
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| Authors: | Lorenzo Peccati |
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| Institution: | (1) Turin and  Bocconi Universities, Turin, Italy |
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| Abstract: | The notion of Internal Financial Law for an investment is introduced. Through this generalization of the IRR a general notion of outstanding capital is obtained. After the introduction of a generalized version of NPV a decomposition of this parameter is offered which is strictly connected to the notion of ROE.Some applications to yield averaging for portfolios is provided. |
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