THE APPRAISAL OF INDUSTRIAL INVESTMENTS - A NEW METHOD AND A CASE-STUDY

被引:9
作者
GALLO, P [1 ]
PECCATI, L [1 ]
机构
[1] FIAT AVIO SPA,TURIN,ITALY
关键词
D O I
10.1016/0925-5273(93)90113-Y
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
A general method of investment projects evaluation, proposed by the second author, is outlined. It consists in decomposing in period quotas Myers' adjusted present value. The analysis of these quotas provides satisfactory insight into the profitability of the project per se and its profitability through an adequate funding policy. A case from real life, concerning a large-scale industrial investment, is briefly discussed and some advantages of the method are highlighted.
引用
收藏
页码:465 / 476
页数:12
相关论文
共 17 条
[1]  
Teichroew, Robichek, Montalbano, Mathematical analysis of rates of return under certainty, Management Science, 11, pp. 395-403, (1965)
[2]  
Teichroew, Robichek, Montalbano, An analysis of criteria for investment and financing decisions under certainty, Management Science, 12, pp. 151-179, (1965)
[3]  
Lorie, Savage, Three problems in capital rationing, The Journal of Business, 28, pp. 229-239, (1955)
[4]  
Peccati, Multiperiod Analysis of a levered Portfolio, Rivista di matematica per le scienze economiche e sociali, 12, (1989)
[5]  
Spronk, Matarazzo, Modelling for Financial Decisions, (1991)
[6]  
Peccati, Valutazione analitica e sintetica di attività finanziarie, Quaderni della Rivista Milanese di Economia, 21, (1992)
[7]  
Myers, Interactions of corporate financing and investment decisions - implications for capital budgeting, The Journal of Finance, 29, pp. 1-25, (1974)
[8]  
Brealey, Myers, Principles of Corporate Finance, (1991)
[9]  
Schlosser, Corporate Finance: A Model Building Approach, (1989)
[10]  
Robichek, Myers, Conceptual problems in the use of risk-adjusted discount rates, J. Fin., 21, pp. 727-730, (1966)