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This article uses different standpoints to approach the question of the consistency of project valuation methods. It shows that the NPV of a project can be obtained by discounting adjusted operating cash flows at a different rate from the risk-adjusted discount rate which should normally be...
Persistent link: https://www.econbiz.de/10013153034
We suggest a new approach to calculating a project's net present value, termed the "displaced equity method". Based on a straightforward formula, it analyzes a project partially financed with debt from the perspective that every year the amount of outstanding debt displaces an equivalent amount...
Persistent link: https://www.econbiz.de/10013153368
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