METHODS FOR INVESTMENT ANALYSIS: THEORETICAL AND PRACTICAL PRESENTATION
DOI:
https://doi.org/10.51473/rcmos.v1i1.2021.699Keywords:
Investment Analysis; IRR (Internal Rate of Return); NPV (Net Present Value); MIRR (Modified Internal Rate of Return).Abstract
This work aims to present the most commonly accepted methods for investment analysis, namely Net Present Value (NPV), Payback – with simple and discounted cash flow, Internal Rate of Return (IRR), and Modified Internal Rate of Return (MIRR). Conceptually, the work presents MIRR as an evolution of IRR, aiming to correct inherent problems with IRR, such as the analysis of cash flows with sequential positive and negative peaks, where the IRR method would generate multiple rates instead of a single rate for the project. This article also introduces the concept of the Average Attractiveness Rate. The study methodology used is bibliographic research, presenting the concept, theory, and application of each method while attempting to differentiate them. In the end, a practical example with values is presented, where a manager, in deciding whether or not to invest, considers the use of investment analysis methods for decision-making regarding the trade-off.
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Copyright (c) 2024 Nilton José Coelho Neto, Hugo Silva Ferreira, Adriani Olemar Nogueira, Poliana Rodrigues Pinório Freire (Autor/in)
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