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The Meaning of Internal Rates of Return
The Journal of Finance, 1981ABSTRACTNearly one hundred years after Irving Fisher' persuasive argument that net present value is the fundamental criterion for appraising investment projects, businessmen and bankers continue to consider the internal rate of return. Business practice is justified in some circumstances. It has long been recognized that a firm will grow asymptotically
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THE RELEVANT INTERNAL RATE OF RETURN
The Engineering Economist, 2004In this article we present a method for determining project acceptability in the presence of multiple internal rates of return. An internal rate of return is an interest rate that equates the present worth of a cash flow stream to zero. When unique, it provides valuable information about the return on the investment and is often viewed as a measure of ...
Joseph C. Hartman, Ingrid C. Schafrick
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Modified Internal Rate of Return
International Journal of Sustainable Economies Management, 2017The evaluation of the efficiency of investments relies on a system of measures based on actuarial techniques that consider the time value of money. One of the common measures used is the Internal Rate of Return (IRR). Commonly, by applying of the efficiency evaluation criteria, result consistent outcomes.
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1987
The internal rate of return of an investment project is that discount rate or rate of interest Y which makes the stream of net returns x t associated with the project equal to a present value of zero. It is the solution for i in the following equation in which 6 indicates the physical lifetime of the investment project.
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The internal rate of return of an investment project is that discount rate or rate of interest Y which makes the stream of net returns x t associated with the project equal to a present value of zero. It is the solution for i in the following equation in which 6 indicates the physical lifetime of the investment project.
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Rates of Return: Internal or Composite?
Journal of Forestry, 1983Abstract The composite rate of return is apparently joining the more familiar internal rate of return as a measure of economic efficiency. Some analysts suggest that the composite rate replace the internal rate. Others are proceeding as if the replacement has already been approved.
Bennett B. Foster, George N. Brooks
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1990
The IRR is a measure of the percentage yield on investment. The IRR is compared against the investor’s minimum acceptable rate of return (MARR)1 to ascertain the economic attractiveness of the investment. If the IRR exceeds the MARR, the investment is economic. If it is less than the MARR, the investment is uneconomic.
Rosalie T. Ruegg, Harold E. Marshall
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The IRR is a measure of the percentage yield on investment. The IRR is compared against the investor’s minimum acceptable rate of return (MARR)1 to ascertain the economic attractiveness of the investment. If the IRR exceeds the MARR, the investment is economic. If it is less than the MARR, the investment is uneconomic.
Rosalie T. Ruegg, Harold E. Marshall
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Average Internal Rate of Return
2020We present the Average Internal Rate of Return (AIRR), which expresses the ratio of total income to total capital employed or, equivalently, the capital-weighted mean of the holding period rates. In particular, we show how to draw and use the (levered and unlevered) average ROI and the average ROE from the pro forma financial statements, how to assess ...
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The internal rate of return of fuzzy cash flow
Rivista di Matematica per le Scienze Economiche e Sociali, 1991Summary: An internal rate of return (IRR) of an investment or financing project with cash flow \((a_ 0,a_ 1,a_ 2, \dots,a_ n)\) is usually defined as a rate of interest such that \(a_ 0+a_ 1(1+r)^{- 1}+\cdots+a_ n(1+r)^{-n}=0\). If the cash flow has one sign change then the previous equation has a unique solution \(r>-1\).
Biacino, L., Simonelli, M. R.
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Internal Rate Of Return Revisited
SSRN Electronic Journal, 1997Discounted Cash Flow (DCF) includes the present value (PV) (or net present value (NPV)) and the internal rate of return (IRR) methods of analyzing cash flows. DCF provides insight into financial management not possible using other techniques. The NPV of the time-phased costs over the economic life of an investment project is the best single-number ...
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MULTIPLE INTERNAL RATES OF RETURN: A REVISITATION
Review of Financial Economics, 1993This paper investigates the utility of certain existing rules for the identification of non‐imaginary internal rates of return in the capital budgeting process. More specifically, the paper demonstrates the applicability of Descartes' Rule of Signs, Budan's Theorem, and Sturm's Theorem from the theory of equations and rules developed in the business ...
James R. Sisson, James F. Nielsen
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