haku: @author Reiss, J. / yhteensä: 2
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| Tekijä: | Reiss, J. Scorgie, M. Rowe, J. |
| Otsikko: | An historical example of discounting in an early eighteenth-century Chinese financial scheme |
| Lehti: | Accounting, Business and Financial History
1996 : SEP, VOL. 6:2, p. 203-212 |
| Asiasana: | ACCOUNTING CHINA FINANCE |
| Kieli: | eng |
| Tiivistelmä: | The authors describe an early 18th century Chinese financial cooperative scheme in which seven participants created a mutual fund for a six-year period. The scheme is analysed in terms of contemporary discounted cash-flow models and estimates of the financial and business risks to the participants are made. The relatively simple scheme devised appears to have accommodated "discount rates" and interest rates appropriate to the prevailing economic and investment climate. |
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