非常规纯投资项目评价原理研究

Study on the Evaluating Principles for Nonconventional Pure Investment Project

本文以Teichroew等人提出的非常规纯投资概念[1]为基础,提出并证明了在纯投资条件下IRR的一些重要性质以及IRR和ERR关系定理,根据纯投资的特点,本文还建立了鉴别纯投资的基本程序,最后就IRR单一存在的充分条件进行了分析,这些结果丰富了投资项目评价的原理与方法。

On the basis of the concept of nonconventional pure investment defined by Teichroew, et al.〔1〕, this paper uniquely proposed and proved the several important properties of IRR and an important theorem of the relationship between IRR and ERR involved in pure inve- st ment.A testing procedure for pure investment was also established in the light of its fea- tures. At last, this paper analyzed the uniqueness condition of IRR. These results enriched the principles and methods of investment project evaluation.