The internal rate of return (IRR) is generally considered inferior to the net present value (NPV) as a tool for evaluating and ranking projects, despite its inherently useful comparability to the cost of capital and the return of other investment opportunities. We introduce the ‘‘selective IRR’’, a return criterion which, as a selection of an extended set of possible IRRs, is NPV-consistent. Th...

NVESTORS, world over, are currently demanding more shareholder value than just high returns. Maximising shareholders value has always been the ultimate aim of every company. Investors are very keen in assessing the corporate financial performance that correlate with shareholders wealth particularly the market price of a share. Traditional performance measures like return on investment, earnings...

In this paper, a multi-outsourcer and multisupplier R&D outsourcing model with input spillovers is proposed to study the R&D outsourcing policies of outsourcers and R&D suppliers. The optimal outsourcing policies of outsourcers and the optimal investment policies of suppliers are obtained and the effects of outsourcing parameters on the policies of outsourcers and R&D suppliers are analyzed. It...

Recent research in empirical finance has documented that expected excess returns on bonds and stocks, real interest rates, and risk shift over time in predictable ways. Furthermore, these shifts tend to persist over long periods of time. In this paper we propose an empirical model that is able to capture these complex dynamics, yet is simple to apply in practice, and we explore its implications...

Return Migration, Investment in Children, and Intergenerational Mobility: Comparing Sons of Foreign and Native Born Fathers This paper studies parental investment in education and intergenerational earnings mobility for father-son pairs with native and foreign born fathers. We illustrate within a simple model that for immigrants, investment in their children is related to their return migration...

Groundwater management in China has been facing challenges from both climate change and urbanization and is considered as a national priority nowadays. However, unprecedented uncertainty exists in future scenarios making it difficult to formulate management planning paradigms. In this paper, we apply modern portfolio theory (MPT) to formulate an optimal stage investment of groundwater contamina...

The infrastructure construction is playing an important role in the development of Liaoning Coastal Economic Belt, whereas a calculation and analysis on the relative efficiency of its 6 cities’ infrastructure investment will offer a useful reference to the decision on the future investment scale and structure of this area’s infrastructure. Based on DEA model and from the viewpoint of constant s...

in order to use an islamic financial instrument, this paper intends to measure and evaluate negative and positive deviations from target rate of return in investment opportunity evaluation,that leads to presenting an upside potential- adjusted risk measure. this risk measure named upside potential adjusted risk measure (alpm) is generally applicable and provides assumptions of variance, downsid...

identification and selection of entrepreneurial businesses, are key activities to encourage people to do entrepreneuship. the majer goal of the current study is to identify, and prioritize the effective components in selection off superior entrepreneurial businesses.the research method is mixed method . friedman rank test has been used to analyze the data. the findings has revealed that the fol...