关于船舶投资决策中的折现率确定.docVIP

关于船舶投资决策中的折现率确定 邵瑞庆 （上海立信会计学院，上海 201620） 摘要折现率是船舶投资决策中的一个关键参数，通常以航运企业的资金成本作为确定的依据。以航运企业的资金成本作为折现率的确定依据是建立在以特定船舶的投资风险不改变企业风险这一基本假设之上的。如果特定船舶投资的风险大于或小于企业的风险，就应该对折现率进行调整以反映特定船舶投资风险的增加或减小。 关键词船舶；投资决策；折现率；资金成本；风险 The Determination of Discount Rate in the Decision-making of Investment for the Shipping Abstract: The discount rate is a key parameter in the decision-making of investment for the shipping, and in the shipping companies it is usually determined by the cost of capital as the basis. This paper argues that the above mentioned view is based on the basic hypothesis that the investment risk