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| Author: | Sweeney, L. E. Mantripragada, K. G. |
| Title: | Ranking mutually exclusive investments: the problem of unequal lives. |
| Journal: | Journal of Business Finance and Accounting
1991 : JUN, VOL. 18:4, p. 609-618 |
| Index terms: | CAPITAL BUDGETING NET PRESENT VALUE |
| Language: | eng |
| Abstract: | First, a critical review of the discussion to resolve the problem of unequal project lives in capital budgeting is presented. Then a technique for ranking mutually exclusive projects which allows the analyst to use a yield-based measure as the choice criterion is described. The projects are ranked the same as not present value. The assumptions are limited and conservative, and they do not run counter a generally accepted theoretical principle. This technique offers the analyst a large degree of flexibility in estimating the effects of this perception of the capital market rates which the firm will face in the future. |
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