DSpace university logo mark
Advanced Search
Japanese | English 

NAOSITE : Nagasaki University's Academic Output SITE > Faculty of Economics > Bulletin > Journal of business and economics > Volume 86, No. 2 >


File Description SizeFormat
KJ00004725150.pdf1.36 MBAdobe PDFView/Open

Title: CFROI会計と企業価値評価
Other Titles: Cash Flow Return on Investment Accounting and Corporate Valuation
Authors: 上野, 清貴
Authors (alternative): Ueno, Kiyotaka
Issue Date: 25-Sep-2006
Citation: 經營と經濟. 2006, 86(2), p. 1-28
Abstract: The purpose of this paper is to study the cash flow return on investment (CFROI) accounting from a viewpoint of corporate valuation and to clarify the characteristics and the grounds. The characteristics and the grounds of CFROI accounting are as follows. (1) The CFROI accounting is the real present value accounting. (2) In the CFROI accounting, the investment valuation in the future is directly done by CFROI prediction and real-asset growth rate prediction. (3) The discount rate of CFROI accounting is the market related discount rate, the future oriented discount rate, and the discount rate in which the feed-back system is inherent. The most important characteristic of the CFROI accounting is that since the investment valuation in the future is directly done and valuation of the existing assets is also directly done, the corporate value is the real value only by independent variables.
Keywords: CFROI / corporate valuation / competitive life cycle / market discount rate
URI: http://hdl.handle.net/10069/9796
ISSN: 02869101
Type: Departmental Bulletin Paper
Appears in Collections:Volume 86, No. 2

Citable URI : http://hdl.handle.net/10069/9796

All items in NAOSITE are protected by copyright, with all rights reserved.


Valid XHTML 1.0! Copyright © 2006-2015 Nagasaki University Library - Feedback Powerd by DSpace