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| Author: | Cannaday, R. E. Colwell, P. F. Paley, H. |
| Title: | Relevant and irrelevant internal rates of return. |
| Journal: | Engineering Economist
1986 : FALL, VOL. 32:1, p. 17-38 |
| Index terms: | CAPITAL INVESTMENT RATE OF RETURN CASH FLOW INVESTMENT ANALYSIS |
| Language: | eng |
| Abstract: | There exists the possibility that given cash flows may result in more than one internal rate of return. A method was developed for determining relevance each of them. An internal rate of return is considered relevant if its derivatives with respect to each of the cash flows are positive. The necessary and sufficient conditions for relevance are: 1. the net future value function has a negative derivative at a relevant root, and 2. a relevant internal rate of return must be greater than -1. |
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