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タイトル: CFROI会計と企業価値評価
その他のタイトル: Cash Flow Return on Investment Accounting and Corporate Valuation
著者: 上野, 清貴
著者(別表記) : Ueno, Kiyotaka
発行日: 2006年 9月25日
引用: 經營と經濟. 2006, 86(2), p. 1-28
抄録: 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.
キーワード: CFROI / corporate valuation / competitive life cycle / market discount rate
URI: http://hdl.handle.net/10069/9796
ISSN: 02869101
資料タイプ: Departmental Bulletin Paper
出現コレクション:第86巻 第2号

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



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