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A resolution to the NPV–IRR debate?
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A resolution to the NPV–IRR debate? (2010)A resolution to the NPV–IRR debate?Financial Management: Theory and Practice (2018)Financial Management: Theory …Corporate Finance in Europe Confronting Theory with Practice (2004)Corporate Finance in Europe C…Capital Budgeting Practices of the Fortune 1000: How Have Things Changed (2002)Capital Budgeting Practices o…The theory and practice of corporate finance: evidence from the field (2001)The theory and practice of co…The Modern Theory of Corporate Finance. (1984)The Modern Theory of Corporat…Principles of Corporate Finance. (1981)Principles of Corporate Finan…Financial Managemen:t Theory and Practice (1979)Financial Managemen:t Theory …On the Theory of Optimal Investment Decision (1958)On the Theory of Optimal Inve…Three Problems in Rationing Capital (1955)Three Problems in Rationing C…The Rate of Interest (1907)The Rate of InterestNPV, IRR, PI, PP, and DPP: A unified view (2024)NPV, IRR, PI, PP, and DPP: A …The Analysis of Three Main Investment Criteria: NPV IRR and Payback Period (2022)The Analysis of Three Main In…Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security? (2022)Does the Net Present Value as…On the equivalence and comparison of economic criteria for energy projects: Application on PV/diesel hybrid system optimal design (2018)On the equivalence and compar…The Historical and Current Concepts of “Plain” Interest Rates, Forward Rates and Discount Rates Are or Can Be Misleading (2016)The Historical and Current Co…The Choice of Technique with Multiple and Complex Interest Rates (2016)The Choice of Technique with …Capital depreciation and the underdetermination of rate of return: A unifying perspective (2016)Capital depreciation and the …Capital budgeting practices: A survey of Central and Eastern European firms (2015)Capital budgeting practices: …On the (non-)equivalence of IRR and NPV (2014)On the (non-)equivalence of I…Adaptive neuro-fuzzy optimization of wind farm project net profit (2014)Adaptive neuro-fuzzy optimiza…The performance of venture capital investments: Do investors overreact? (2012)The performance of venture ca…The Internal Rate of Return Approach and the AIRR Paradigm: A Refutation and a Corroboration (2012)The Internal Rate of Return A…Technical note: Equivalence of different profitability criteria with the net present value (2012)Technical note: Equivalence o…Capital budgeting decisions: evidence from India (2012)Capital budgeting decisions: …Aggregate Return on Investment and Investment Decisions: A Cash-Flow Perspective (2011)Aggregate Return on Investmen…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)Law and Finance (1998)Capital Structure Policies in Europe: Survey Evidence (2006)What determines the speed of adjustment to the target capital structure? (2006)Trade-Off and Pecking Order Theories of Debt**We thank Long Chen, Sudipto Dasgupta, Espen Eckbo, Chris Hennessy, Jay Ritter, Michael Roberts, Tan Wang, and Jaime Zender for comments and helpful discussions. Murray Frank thanks Piper Jaffray for financial support. Vidhan Goyal thanks the Research Grants Council of the Hong Kong Special Administrative Region for financial support (Project No. 6489/06H). The literature on capital structure is vast, containing hundreds of papers, and so we cannot hope to cover it all. Inevitably, we have left out a great deal, much of it very important. As such, we apologize in advance for our inevitable oversights. Even more than usual, it must be stressed that this survey reflects only our views. (2008)The Cross-Section of Expected Stock Returns (1992)Managing with Style: The Effect of Managers on Firm Policies (2003)Law, finance, and economic growth in China (2005)The economic implications of corporate financial reporting (2005)A Further Empirical Investigation of the Bankruptcy Cost Question (1984)Barriers to Innovation among Spanish Manufacturing SMEs (2009)Does CSR Reduce Firm Risk? Evidence from Controversial Industry Sectors (2012)Differences in Education and Earnings Across Racial and Ethnic Groups: Tastes, Discrimination, and Investments in Child Quality (1988)Accounting innovation beyond the enterprise: Problematizing investment decisions and programming economic growth in the U.K. in the 1960s (1991)Capital structure in an emerging stock market: The case of India (2010)Corporate Governance in Banking: A Conceptual Framework (2000)The Capital Asset Pricing Model ( CAPM ): The History of a Failed Revolutionary Idea in Finance? (2012)Do rating agencies cater? Evidence from rating-based contracts (2014)Capital Budgeting of Interrelated Projects: Survey and Synthesis (1966)Capital Rationing and Organizational Slack in Capital Budgeting (1985)The Theory of Economic Growth: A Survey (1965)Complementarity-An Essay on the 40th Anniversary of the Hicks-Allen Revolution in Demand Theory (1974)The Secondary Circuit of Capital Reconsidered: Globalization and the U.S. Real Estate Sector (2006)The Capital Structure Puzzle (1984)The Determinants of Capital Structure Choice (1988)Application of real options analysis for pharmaceutical R&D project valuation—Empirical results from a survey (2006)Cost of Capital Estimation and Capital Budgeting Practice in Australia (2007)Improved capital budgeting decision making: evidence from Canada (2010)
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References

  • 2001The theory and practice of corporate finance: evidence from the field5,947 cited
  • 1981Principles of Corporate Finance.3,634 cited
  • 1979Financial Managemen:t Theory and Practice1,139 cited
  • 2018Financial Management: Theory and Practice992 cited
  • 1958On the Theory of Optimal Investment Decision608 cited
  • 1955Three Problems in Rationing Capital481 cited
  • 2004Corporate Finance in Europe Confronting Theory with Practice448 cited
  • 1907The Rate of Interest404 cited
  • 2002Capital Budgeting Practices of the Fortune 1000: How Have Things Changed207 cited
  • 1984The Modern Theory of Corporate Finance.134 cited

Cited by

  • 2012The Internal Rate of Return Approach and the AIRR Paradigm: A Refutation and a Corroboration96 cited
  • 2012Technical note: Equivalence of different profitability criteria with the net present value71 cited
  • 2015Capital budgeting practices: A survey of Central and Eastern European firms64 cited
  • 2022Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?60 cited
  • 2014On the (non-)equivalence of IRR and NPV54 cited

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  • 2022The Analysis of Three Main Investment Criteria: NPV IRR and Payback Period46 cited
  • 2012Capital budgeting decisions: evidence from India46 cited
  • 2014Adaptive neuro-fuzzy optimization of wind farm project net profit40 cited
  • 2011Aggregate Return on Investment and Investment Decisions: A Cash-Flow Perspective29 cited
  • 2016Capital depreciation and the underdetermination of rate of return: A unifying perspective27 cited
  • 2024NPV, IRR, PI, PP, and DPP: A unified view26 cited
  • 2018On the equivalence and comparison of economic criteria for energy projects: Application on PV/diesel hybrid system optimal design26 cited
  • 2016The Historical and Current Concepts of “Plain” Interest Rates, Forward Rates and Discount Rates Are or Can Be Misleading24 cited
  • 2012The performance of venture capital investments: Do investors overreact?21 cited
  • 2016The Choice of Technique with Multiple and Complex Interest Rates15 cited