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| Author: | Keef, S. Roush, M. |
| Title: | Many happy returns |
| Journal: | Financial Management
2001 : JUN, p. 42-43 |
| Index terms: | FINANCIAL MANAGEMENT DISCOUNTED CASH FLOW CASH FLOW |
| Language: | eng |
| Abstract: | The subject of this paper is discounted cash flow. The paper deals with the discounted cash flow methods introduced by Irving Fisher and John Keynes. The paper considers the explanation on the rate of return over cost concept of Fisher and the internal rate of return concept of Keynes and pays an attention to the relationship between the two methods. The authors answer the question how the two methods can create conflicting signals in the ranking of independent financial projects and how the use of marginal cash flows can affect the methods. They states that NPV and IRR discounted cash flow methods are widely used, but they can create conflicting signals. |
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