翻訳と辞書 Words near each other ・ Penal military unit ・ Penal notice ・ Penal populism ・ Penal Procedure Code of Romania ・ Penal Reform International ・ Penal Sanctions (Indigenous Workers) Convention, 1939 (shelved) ・ Penal Servitude Act ・ Penal substitution ・ Penal system in China ・ Penal system of Japan ・ Penal system of Panama ・ Penal transportation ・ Penal-Debe Regional Corporation ・ Penalaboda ・ Penale ・ Penalized present value ・ Penallt ・ Penallt Halt railway station ・ Penallt Old Church ・ Penallt Viaduct ・ Penallta Colliery ・ Penallta RFC ・ Penally ・ Penally Abbey ・ Penally railway station ・ Penalosa ・ Penalosa, Kansas ・ Penalties in English law ・ Penalty ・ Penalty (golf) Dictionary Lists mini英和辞書 mini和英辞書 Webster 1913 Latin-English FOLDOC Wikipedia English ウィキペディア

翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Penalized present value ： ウィキペディア英語版 Penalized present value The Penalized Present Value (PPV) is a method of Capital Budgeting under risk developed by Fernando Gómez-Bezares in the 1980s. == Description == The risk-adjusted rate of return method penalizes risk by increasing the discount rate when calculating the Net Present Value (NPV), and the certainty equivalent approach does it by adjusting the numerators of the NPV formula, while the Penalized Present Value calculates the average NPV (µ) at the risk-free rate, penalizing it afterwards by subtracting t standard deviations of the NPV (tσ): $PPV=\; \backslash mu-t\backslash sigma$ The PPV has many versions, a particularly pragmatic one can be reached by assuming we know the maximum or most optimistic NPV (b), the minimum or most pesimistic one (a) -calculating the NPVs at the risk-free rate-, and being these NPVs approximately normally distributed. In this case, approximately, we have: $\backslash mu\backslash \; =\; \backslash frac$ and $\backslash sigma\backslash \; =\; \backslash frac$ Assuming a reasonable t of 1.5: $PPV=\; \backslash frac-\; 1.5\; \backslash frac\; =\; 0.25b\; +\; 0.75a$ Therefore, given that we are risk-averse, we weight more the worst case than the most favorable one. Obviously other weights could be applied. According to this criterion, the decision maker will look for investments with positive PPVs, and if a choice is needed, he or she will choose the investment with the highest PPV. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Penalized present value」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.