高级投资项目管理跟经济效益评价(1)资料.ppt

厦门大学管理学院博士研究生课程报告八高级投资项目管理和经济效益评价——理论、方法和实践厦门大学管理学院吴世农AdvancedCapitalBudgeting ——Theory,Methods&? Capital=FixedAssetsusedinproduction/service;Budgeting=Plandetailingprojectedcashinflowsandoutflowsduringsomefutureperiod,thus“CapitalBudgeting”outlinestheplannedexpendituresonfixedassets. -conceptsforCapitalBudgeting (1)CapitalInvestmentAnalysis&Decision (2)EconomicEvaluationofInvestmentProjects (3)TechnologicalEconomics (4)InvestmentFeasibilityStudy Capitalbudgetingisafiledoffinanceconcernedwithcostandbenefit,&CostCBAExpendituresofCapitalsMarketingStrategyCosts&eRProfitsStatementRisk&InvestmentAnalysisDManagementAssets&BalanceLiabilitiesSheetProductionFinanceCashInflow&CashflowRepaymentOpportunityStudyCashOutflowStatementAnalysisPreliminaryDiscussionFeasibilityDiscussionFinalProposalsStudyReportExhibit1:DiagramSuggestedforInvestmentProject’sFeasibilityStudyinFirms厦门大学管理学院吴世农TechnologicalMacroeconomicFeasibilityFeasibilityFinancialImplementationOperationFeasibility Social/prehensiveReviewPost-FeasibilityReportAssessmentExhibit1(Continuos):DiagramSuggestedforInvestmentProject’ (1)Conflict——WhichMaximizesShareholder’sWealth?Supposethattherearetwoprojects,AandB,n=1,K=10%,(k=10%)IRRPVIA5,0008,0002,27360%%B50,00075,00018,18250%% eptableduetotheirpositivevaluesofNPV,however,giventhatthetwoprojectsaremutuallyexclusive,whichoneispreferred?Also,bec