There are circumstances where the NPV rule and IRR rule

来源: kukuren2000 于 2012-03-22 22:07:28 [] [旧帖] [给我悄悄话] 阅读数 : (1503 bytes)

There are circumstances where the NPV rule and IRR rule provide conflicting advice,  NPV rule is more preferred over IRR.

 

The reason is that NPV more likely uses the “realistic” rate, to discount the cash flows, rather than an “arbitrary” rate, the IRR, that makes NPV =0.  When the IRR is very high relative to the actual cost of capital,  it is unrealistic to assume reinvestment of the cash flows at that high rate. 


 

所有跟帖： 

• IRR model is totally wrong. Considering if you have multi IRRs. -sweetptt- ♂ 给 sweetptt 发送悄悄话 sweetptt 的博客首页 (0 bytes) () 03/22/2012 postreply 22:19:47

• yes, IRR model is more limited. -kukuren2000- ♀ 给 kukuren2000 发送悄悄话 (0 bytes) () 03/22/2012 postreply 22:28:25

• IRR是分析是否值得投资，而NPV是计算具体回报，两者相互相成，一点都不冲突 -大家帮我买房- ♂ 给 大家帮我买房 发送悄悄话 大家帮我买房 的博客首页 (0 bytes) () 03/23/2012 postreply 08:01:26

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