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| Author: | Pierru, A. Feuillet-Midrier, E. |
| Title: | Discount rate value and cash flow definition: a new relationship and its implications |
| Journal: | Engineering Economist
2002 : VOL. 47:1, p. 60-83 |
| Index terms: | CASH FLOW DISCOUNT RATE |
| Freeterms: | PROJECT VALUATION |
| Language: | eng |
| Abstract: | This article uses different standpoints to approach the question of the consistency of project valuation methods. It shows that the NPV of a project can be obtained by discounting adjusted operating cash flows at a different rate from the risk-adjusted discount rate which should normally be used. |
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