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

Translated title of the contribution: FEATURES OF USING THE INTERNAL RATE OF RETURN FOR EVALUATING THE EFFECTIVENESS OF INVESTMENT PROPOSAL IMPLEMENTATION UNDER THE RISK

Research output: Contribution to journalArticlepeer-review

Abstract

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.
Translated title of the contributionFEATURES OF USING THE INTERNAL RATE OF RETURN FOR EVALUATING THE EFFECTIVENESS OF INVESTMENT PROPOSAL IMPLEMENTATION UNDER THE RISK
Original languageRussian
Pages (from-to)11
Number of pages6
JournalВектор экономики
Issue number6(48)
StatePublished - 2020

Keywords

  • investment proposal
  • INTERNAL RATE OF RETURN
  • UNCERTAINTY
  • RISK
  • CASH FLOWS

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