IRR指标在项目评价中应用研究.doc

IRR指标在项目评价中应用研究 摘 要 无论是一项新建工程还是一个技术改选方案，都要进行项目评价工作，而该项工作的质量又直接取决于评价和计算方法的正确性和适用性。内部收益率是用于项目投资分析的动态指标，目前已被广泛接受、采用。本文采用理论与实证相结合的方法，首先阐述了IRR的概念、与其有关的其他概念及它的计算方法；然后，根据投资项目的特点，将项目分为常规性投资项目和非常规性投资项目，分别对IRR在它们中的具体应用进行了分析，并提出了新的IRR决策准则，解决了IRR在项目评价中遇到的不足；最后，我们还将IRR与另一重要评价指标NPV进行了比较分析。在实际工作中，应注意IRR的适用范围，将它与其他经济评价指标有益地结合起来进行项目评价，以保证项目决策的准确性。 关键词：内部收益率（IRR），差额内部收益率（△IRR），项目评价，常规投资项目，非常规投资项目 The Research of IRR Target Applied in Project Appraisal Abstract For any newly built project or technical improvement scheme, it is necessary to carry on the project evaluation, but the quality of the work directly depends on correctness and adaptability of the method of evaluation and computation. IRR is a moving indictor for investment project, it is widely accepted and implemented. In the article , we use method which the theory and the real diagnosis unifies, at first ,we elaborate the concept or other related of IRR and it’s calculation method ; Then, according to the features of the investment project ,we classifies the project to the conventional investment project and non-conventional investment project, analysed the specific application of IRR in them, and we advance a new evaluation method of IRR which solved the shortage of IRR in project evaluation; Finally, we will compare IRR with another important evaluation index. In practice, should pay attention to IRR the applicable scope , it and other economic evaluation index should beneficially combine to carry on project evaluation and to guarantee the accuracy of project decision. Key words：Internal rate of return, Balance internal rate of return, Project evaluation, Conventional investment project, Non-conventional investment project 目 录 1 引言……………………………………………………………………………1 2 IRR概述……………………………………………………………………… 3 2.1 IRR的概念…………………………………………………………………3 2.2 IRR的特点…………………………………………………………………3 2.3 与IRR有关的几个概念 …………………………………………………4 2.3.1 　现金流量 ………………………………………………………………4 2.3.2 　基准收益率 ……………………………………………………………4 2.4 IRR的计算方法…………………………………