The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource ...The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource requirement.It is the total capital tied-up for the project in its lifetime.For calculation of it,the yearly capital tie-ups are being added together.Based on this,it can be examined the total capital amount,which results in a given net present value,or the total capital amount,which operates according to the given rate of profitability.The paper interprets the category,presents its relationship with the interest rate,and also presents the method of calculation based on model editing.In the case of the internal rate of return,the estimation may be greatly simplified.Instead of determining the yearly amounts and summation of these,the estimation can be carried out also with a simple division of two data.The paper demonstrates the possibility of simplification and shows an example to present the interrelations of data.展开更多
The rate of return on capital is a key parameter in pension reform policy making. While evaluating pension reform, the method Feldstein proposed to measure the rate of return on capital is widely adopted. Here we calc...The rate of return on capital is a key parameter in pension reform policy making. While evaluating pension reform, the method Feldstein proposed to measure the rate of return on capital is widely adopted. Here we calculate the rate of return on capital in China by this method. The calculation demonstrates that the rate of retum on all the industrial enterprises is around 6.5 percent from 1996 to 2000, and the average rate of return on state-owned industrial enterprises is lower than the above figure by 1.5 percent during the same period. Finally, we draw a conclusion that the rate of return ranging from 5 to 7 percent is appropriate for the pension reform in China.展开更多
水电工程项目的资本金内部收益率(Internal Rate of Return,IRR)是投资者考察盈利能力的重要财务指标。运用敏感性分析方法,分析了资本金内部收益率与工程投资、工期和电价的变化关系及其对资本金内部收益率的影响程度,给出了在某一给...水电工程项目的资本金内部收益率(Internal Rate of Return,IRR)是投资者考察盈利能力的重要财务指标。运用敏感性分析方法,分析了资本金内部收益率与工程投资、工期和电价的变化关系及其对资本金内部收益率的影响程度,给出了在某一给定资本金内部收益率下,工程投资、工期和电价之间的关系,并建立了简化函数表达式,为上网电价定价及投资者投融资决策提供依据。展开更多
文摘The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource requirement.It is the total capital tied-up for the project in its lifetime.For calculation of it,the yearly capital tie-ups are being added together.Based on this,it can be examined the total capital amount,which results in a given net present value,or the total capital amount,which operates according to the given rate of profitability.The paper interprets the category,presents its relationship with the interest rate,and also presents the method of calculation based on model editing.In the case of the internal rate of return,the estimation may be greatly simplified.Instead of determining the yearly amounts and summation of these,the estimation can be carried out also with a simple division of two data.The paper demonstrates the possibility of simplification and shows an example to present the interrelations of data.
基金This work was supported in part by National Nature Science Foundation of China key project under Grant No. 70531010.
文摘The rate of return on capital is a key parameter in pension reform policy making. While evaluating pension reform, the method Feldstein proposed to measure the rate of return on capital is widely adopted. Here we calculate the rate of return on capital in China by this method. The calculation demonstrates that the rate of retum on all the industrial enterprises is around 6.5 percent from 1996 to 2000, and the average rate of return on state-owned industrial enterprises is lower than the above figure by 1.5 percent during the same period. Finally, we draw a conclusion that the rate of return ranging from 5 to 7 percent is appropriate for the pension reform in China.
文摘水电工程项目的资本金内部收益率(Internal Rate of Return,IRR)是投资者考察盈利能力的重要财务指标。运用敏感性分析方法,分析了资本金内部收益率与工程投资、工期和电价的变化关系及其对资本金内部收益率的影响程度,给出了在某一给定资本金内部收益率下,工程投资、工期和电价之间的关系,并建立了简化函数表达式,为上网电价定价及投资者投融资决策提供依据。
