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SleepyHollow02
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Untersuchte Arbeit:
Seite: 71, Zeilen: 1-5
Quelle: Copeland Weston 1992
Seite(n): 28, 29, Zeilen: 28: last paragraph; 29: 14 ff.
[The NPV is computed by] discounting the cash flows at the firms opportunity cost of capital. The NPV method aims to find projects with a positive NPV (greater than zero). Copeland and Weston (1992: 28) state that the NPV of a project is exactly the same as the increase in shareholder's wealth. According to them, the NPV technique is the correct decision rule for capital budgeting purposes.

Copeland, T.E. & Weston, J.F. 1988, Financial Theory and Corporate Policy, 3rd ed., Addison-Wesley, Reading, Massachusetts.

The net present value (NPV) criterion will accept projects that have an NPV greater than zero. The NPV is computed by discounting the cash flows at the firm’s opportunity cost of capital.

[page 29]

The NPV of a project is exactly the same as the increase in shareholders' wealth. This fact makes it the correct decision rule for capital budgeting purposes.

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(SleepyHollow02) Schumann