利用改进净现值法降低旧工业建筑投资不确定性研究

Study on reducing the investment uncertainty with old industrial building based on the improved method of net present value

针对旧工业建筑改造投资项目的特点,以及传统经济评价指标没有考虑未来各种不确定性因素的缺陷,提出用调整现金流量法和调整贴现率法对传统净现值法进行改进.并将这两种方法综合运用到旧工业建筑改造项目的经济评价中,完善经济评价体系,提高投资项目经济评价的精确度.在所研究理论成果的基础上,通过在某市旧工业建筑改造项目中的深入调研和实践,将该方法运用到具体项目中,对改进前后的两种结果进行对比分析,从而验证改进净现值法的可行性.

Aiming at the characteristics of the transformation of old industrial building investment projects, and the defect that traditional economic evaluation index does not consider the various uncertainty factors in the future. This paper put forward the adjustment method of cash flow and discount rate method to improve the traditional net present value method. The combination of the two methods for the economic evaluation of the old industrial buildings transformation project helps perfect the economic evaluation system and improve the accuracy of the economic evaluation of investment projects. On the basis of theoretical results and by further research and practice of the old industrial buildings transformation project, the method was applied to the specific project. The two results were analyzed before and after the improvement, and the feasibility of improved method of the net present value proved to be validated.