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Article
Publication date: 1 January 1972

Ordell Calkins and Mohammad Sangeladji

Use of the internal rate of return (IRR) and the net present value (NPV) techniques in evaluating capital investments has been advocated by many financial writers. They almost…

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Abstract

Use of the internal rate of return (IRR) and the net present value (NPV) techniques in evaluating capital investments has been advocated by many financial writers. They almost always assert that these methods are superior to the more widely used payback and accounting rate of return techniques. The usual reason given centres around the concept of the time value of money, a factor that is absent in the latter method. Without doubt there is merit in this reasoning.

Details

Management Decision, vol. 10 no. 1
Type: Research Article
ISSN: 0025-1747

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