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: () / / / Assessment of Investment Projects on the Basis of Production Efficiency

ASSESSMENT OF INVESTMENT PROJECTS ON THE BASIS OF PRODUCTION EFFICIENCY


Vadim Borisovich Daskovskiy,
Full Doctor of Economics, Professor,
Scientific head,
National Institute of Economics
(NIEc, www.niec.ru)

Vladimir Borisovich Kiselyov,
Full Doctor of Economics, Professor


May 2010

Methodologically, the recommended investment project (IP) selection system is distinguished from one in force by: new conception allowing for time factor; evaluating IP efficiency by eventual reproduction results, not by intermediate investment activity results (included is a generalized production efficiency indicator); separation of conditions / indicators adequate for a market economy in transition and an advanced (stable) one; allowing for differences between enterprises (entrepreneurs) and investors economic interests. The make-up of assessment standards was extended by tasks to be solved. An enterprises highly competitive position after IP realization when the best analogue sales profitability is achieved was taken as the investment success criterion.

Keywords: investment efficiency; investment project; profit; the discount rate; projection period; investment phase; operation phase; net present value (NPV); discounting cash flow (DCF); Net Profit in Time (NPT); Profitability Index in Time (PIT).

JEL Classification: G31, G32, G11, O16, O22, D61, D81, E22, M21.

Link: Open & Download -
Assessment of Investment Projects on the
Basis of Production Efficiency
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