2011•DSpace@MIT (Massachusetts Institute of Technology)Open access
Economic evaluation of industrial projects
Li. Zhang
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Abstract
This paper deals with the economic evaluation of industrial projects.Some traditional techniques, which have been used by practicing managers or advocated by academics, become questionable in the face of modern developments in finance theory.The objective of this paper is to examine how these modern developments in finance theory are applied to project evaluation.The paper is divided into two parts.Fart 1 formulates a fundamental procedure for managers to follow in selecting projects and briefly reviews some of the most important developments in modern finance theory.Part 2 examines how these developments are applied to single- period as well as multiperiod project evaluation and reexamines some traditional approaches of project evaluation.
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