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文献《项目财务评价及评价指标分析与研究》提出了一种新的经济效果评价指标——综合内部收益率,并认为该指标可以弥补净现值(NPV)、内部收益率(IRR)、增量净现值(ΔNPV)和增量内部收益率(ΔIRR)这些指标的不足。经过数学推演和基于经济学边际效益的分析,可以证明:(1)综合内部收益率指标的判据是不严谨的;(2)综合内部收益率不能反映投资项目的绝对经济效果;(3)综合内部收益率的计算远比NPV繁琐。
Literature “project financial evaluation and evaluation index analysis and research” put forward a new economic evaluation index - a comprehensive internal rate of return, and that the index can make up for the net present value (NPV), internal rate of return (IRR), increase The net present value (ΔNPV) and the incremental internal rate of return (ΔIRR) these indicators inadequate. After mathematical deduction and analysis based on the marginal benefit of economics, we can prove that: (1) The criterion of comprehensive IRR is not rigorous; (2) IRR does not reflect the absolute economic effect of investment projects; (3) Computed internal rate of return is far more complicated than NPV.