Особенности использования внутренней нормы доходности для оценки эффективности реализации инвестиционного проекта в условиях риска

The purpose of this article is to present analytical results on the probabilistic distribution of the internal rate of return of the investment proposal, based on the assumption of a normal distribution of income and expenses on proposal in each period. In a risk situation, the investment project corresponds not to a single value of the internal rate of return of the project, but to a probabilistic distribution of its values if the uncertainty of expenses and income is described by a multidimensional normal distribution. This article examines the exact probabilistic distribution of the internal rate of return, as well as the approximation of this distribution to the normal if the values of the variance of income and expenses for the proposal for each period are small.