摘要
本文首先给出应用马尔可夫过程建立的投资项目现金流的模型及其特性，然后详细推导用该模型描述现金流的项目净现值的期望值和方差，所得结果可广泛应用于投资评估．
This paper introduces a model which applies the Markov process to describing cash flows generated by a project and its properties. Then the paper derives the mean and variance of the project's net present value. The results obtained can be widely used in investment evaluations.
关键词
投资项目评估
马氏模型
现金流动
cash flow
investment project evaluation
Markov model
net present value
