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Well-Behaved Cash Flows

Internal rate of return and net present value statistics for evaluating projects may display anomalous behavior when cash flows change sign more than once. We identify necessary and sufficient conditions such that these anomalies are precluded. We also identify a linear dominance condition on payoffs sufficient to order internal rates.
Year of publication:
2001-10-01
Authors: Saak, Alexander ; Hennessy, David A.
Institutions: Department of Economics, Iowa State University
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Type of publication: Book / Working Paper
Notes:
Published in Economics Letters, October 2001, vol. 73, pp. 81-88
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Persistent link: https://www.econbiz.de/10005437025
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