Average rates of return, working capital, and NPV-consistency in project appraisal: A sensitivity analysis approach

Volume: 229, Pages: 107769 - 107769
Published: Nov 1, 2020
Abstract
In project appraisal under uncertainty, the economic reliability of a measure of financial efficiency such as a rate of return depends on its strong NPV-consistency, meaning that the performance metric (i) supplies the same recommendation in accept–reject decisions as the NPV, (ii) ranks competing projects in the same way as the NPV, (iii) has the same sensitivity to perturbations in the input data as the NPV. In real-life projects, financial...
Paper Details
Title
Average rates of return, working capital, and NPV-consistency in project appraisal: A sensitivity analysis approach
Published Date
Nov 1, 2020
Volume
229
Pages
107769 - 107769
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