基于排序法的建设项目经济费用效益实证及理论假设分析

Demonstration and Theory Hypothesis on Economic Cost Benef it of Construction Project based on Ordering Method

以经济净现值(ENPV)、经济内部收益率(EIRR)、收益—成本比率(B/C)3种有效标准的实证分析,说明在进行建设项目经济评价排序时会出现结果不一致的情况。通过采用3种标准理论假设研究探讨排序不一致的原因,结果表明:用ENPV值作为评价标准进行排序的假设是:不同寿命周期方案现金流的再投资收益率恒等于社会折现率is;用EIRR值作为评价标准进行排序的假设是:不同寿命周期方案现金流按大于或等于菲希尔交点的情况下进行再投资;用B/C值作为评价标准进行排序的假设是:不同寿命周期方案现金流按大于菲希尔交点进行再投资。

Through analyzing demonstration of 3 effective standard like ENPV,EIRR and B/C rate,this paper expounds the status of results variance occurred in economic evaluation ordering of construction project.According to the 3 standard theory hypothesis,the paper discusses the reason of ordering variance.The result shows that: using ENPV value as evaluation standard to make ordering hypothesis means the re-investment benefit rate of cash flow with different life cycle plan equals to social discount rate is;use EIRR value as evaluation standard to make ordering hypothesis means the cash flow with different life cycle plan larger than or equals to re-investment under FISCHER intersection point;and use B/C value as evaluation standard to make ordering hypothesis means the cash flow with different life cycle plan was re-invested under status of value larger than FISCHER intersection point.