An Analysis for the Improvement of Delta IRR Method;
《现代咨询方法与实务》关于利用差额内部收益率法选择互斥型投资方案的编撰存在失当之处 ,差额现金流量内部收益率法与NPV法是一致的 ,且选择的终极准则是NPV最大化 ,故应用简便科学的NPV法 ,而无须使用复杂且可能无解的差额现金流量内部收益率法。
The firms investments are constrained,and the constrained firms investments are sensitive to internal cash flow.
本文选择国内制造业上市公司财务数据实证检验了不完美资本市场下内部现金流对公司投资需求的影响。
The Empirical Evidence shows that underinvestment will occur in non-state-holding enterprises when the free cash flow is relatively low,the investment in these corporations is sensitive to internal cash flow,while in state-holding enterprises it is the other way round.
经验证据表明,当企业自由现金流较低时,非国有控股企业表现为投资不足,企业投资对内部现金流是敏感的,而国有控股企业投资对内部现金流不敏感;当企业自由现金流较高时,国有控股企业和非国有控股企业都表现为过度投资,两类企业投资对内部现金流都是敏感的。
The financing constraints and investment expenditure negatively correlate,the internal cash flow and investment expenditure positively correlate, as well as IOS.
本文研究了我国高新技术企业投资效率和投资支出的影响因素,研究结果表明:(1)我国高新技术企业普遍存在投资不足;(2)融资约束与投资支出负相关,内部现金流量和投资机会(IOS)与投资支出正相关;(3)内部现金流量和投资机会(IOS)对投资—融资约束敏感性有影响,IOS小于样本均值和内部现金流量为负的企业投资—融资约束敏感性较小。
internal rate of return of discounted cash flow
折现现金流内部收益率
Analysis of Relationship between Inner Revenue Rate and Cash Flow Model;
关于内部收益率与现金流量模式关系的分析
discounted cash flow rate of retur
贴现现金流动收益率
Comparison and Analysis of the NPV Method and IRR Method;
内部收益率法与净现值法的比较分析
Decision-making Analysis of Indexes of Net Present Value & Internal Earning Rate
净现值与内部收益率指标的决策分析
Returns the internal rate of return for a series of cash flows.
返回一系列现金流的内部返还比率。
Determination of Discount Rate in Income Method for Equity Valuation
收益法评估股权价值中折现率的确定
The Choice between NPV and IRR in Investment Decisions
净现值与内部收益率在投资决策中的选用
Further Discussion on the Reason of the Conflict Between NPV and IRR;
再论净现值与内部收益率非自洽性的原因
Quantitative model of discount rate on the basis of the dynamic cash flow;
基于动态现金流量的折现率定量模型
Research for Defining the Discount Rate and an Empirical Analysis of It under Income Present Value Method;
收益现值法下折现率确定研究与实证分析
Non-discounting methods includes payback period and accounting rate of return.
非折现的方法有回收期法和会计收益率法。
It has two drawbachs:(i)It does not take into account the conversion rate between the security and cash;
(1)没考虑证券与现金的转换比率; (2)没考虑现金流折现率。
The Application of Net Present Value Method and Internal Earning Rate Method in Investment Decision of Mutually Exclusive Plan;
净现值法与内部收益率法在互斥方案投资决策中的应用研究
THE DISCOUNTED PENALTY FUNCTION OF A RISK MODEL WITH RETURN ON INVESTMENTS;
一类带投资收益风险模型的罚金折现期望
internal rate of return of incremental investment
差额投资内部收益率
The Effects of Free Cash Flow on the Returns of Bidders;
自由现金流量对公司并购收益的影响
Identification of Accounting Earnings Quality--The Analysis of Cash Flow Statements
会计收益质量的识别——现金流量表分析
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