金融學概浅析讲义(北大光华管理學院)lecture.docVIP

PAGE 1 PAGE 38 Principles of Finance Lecture 03 How to Analyze Investment Projects Objectives To show how to use discounted cash flow analysis to make decisions such as Whether to enter a new line of business Whether to invest in equipment to reduce costs Contents ? The NPV rule ? Estimating a project’s cash flows ? Cost of capital ? Sensitivity Analysis ? Cost-reducing projects ? Projects with different lives ? Mutually exclusive projects ? Inflation and capital budgeting The Nature of Project Analysis ? Basic unit of analysis ? Individual investment project ? The criterion used Find