| Author: | Fischer, E. O. |
| Title: | Die Bewertung riskanter Investitionen mit dem risikilosen Zinsfuss |
| Journal: | Zeitschrift für Betriebswirtschaft
1999 : ERGÄNZUNGSHEFT 1, p. 25-42 |
| Index terms: | PROJECTS VALUATION DISCOUNTED CASH FLOW INVESTMENT APPRAISAL |
| Language: | ger |
| Abstract: | For the valuation of projects with uncertain future cash flows the literature suggests to alternative methods: Dis- counting the expected cash flows with risk adjusted discount rates and discounting the certainty equivalents with the riskless interest rates. Based on Black's SDR-approach we present two new methods for the valuation of risky projects. Furthermore we show that these new methods need weaker theoretical assumptions and are easier to apply into prac- tice. |
SCIMA