现金流不确定状态下财务指标IRR的应用探析

内含报酬率是目前评价项目可行性的主要指标之一，在应用时都是建立在对现金净流量值给出确切估计的基础上，但在实际经营活动中现金净流量存在着很多不确定性，往往是不能确切地估计出来。在此基础上考虑了各期现金流是概率排序型、各期现金净流量值是一个区间数以及各期现金净流量满足特定的概率分布这三种不确定状态下的IRR应用情形，使其能够更加贴近现实，提高项目评估的准确性。

The Application of the Financial Indicator IRR under the Cash Flow Uncertainty State

The internal rate of return is one of the main indexes of the project evaluation now, when using this index, need to make the exact estimate of the cash flow, but in the actual business activities, the net cash flow is usually uncertain, and often cannot be accurately estimated. Based on this, considering the IRR application situation under the cash flow is the probability ranking state, is interval number state and is meeting specific probability distributions, to make it more close to the reality, in order to improve the accuracy of project evaluation.