生态环保项目财务基准收益率调整测算方法研究
Exploration on the Revision and Measurement of Basic Financial Internal Rate of Return for Eco-environment Protection Project
金德民1
作者信息
- 1. 国投维尔利环境投资有限公司,福建厦门 361022
- 折叠
摘要
随着国家"双碳"战略的实施,生态环保领域的投资种类和数量逐年增加,投资决策变得异常复杂,而生态环保项目经济评价参数已多年没有修订,已经影响到此类项目的科学决策,有必要适时出台新版的方法与参数手册.文章基于建设项目财务基准收益率的一般定义及使用规范,参考实际工作中的生态环保项目决策案例,以及生态环保企业上市公司年报的财务指标和市场估值,探讨了使用WACC及CAPM方法调整生态环保项目财务基准收益率的原理及算法,并给出了测算实例,经过和实际项目决策案例的对比,论证了调整生态环保类项目基准财务收益率的必要性和方法的可行性,期望能供生态环保领域的项目决策者及相关政府部门在编制投资方案及制定相关政策时参考借鉴.
Abstract
While the implementation of carbon peaking and carbon neutrality strategy,the type and number of Eco-environment Protection Project is increasing annually,project decision is becoming more and more complicated and cautious.Evaluation Parameter for Eco-environment Protection Project has not been revised for a long time,which has affected the correct decision for this type of projects,so it is necessary to publish the new version manual of evaluation method and parameter.This article summarized the definition and application code of basic Financial Internal Rate of Return of investment project,referred the practice case and annual report and market value for listed Eco-environment Protection companies,discussed the principle and calculation method of revising basic Financial Internal Rate of Return type of Eco-environment Protection project through WACC and CAPM method,and presented the measurement cases and comparison with practice project decision.The necessity and calculation feasibility of revising basic Financial Internal Rate of Return for Eco-environment Protection project are demonstrated,which wish to be a reference for decision maker of Eco-environment Protection Project preparing investment project and relative governmental authorities to publish relative regulations.
关键词
IRR/生态环保/WACC/投资决策Key words
IRR/Eco-environment protection/WACC/Investment decision引用本文复制引用
出版年
2024
NETL
NSTL
万方数据