Present value criterion: the case of differing borrowing and lending rates Academic Article

abstract

• This paper examines the present value criterion in a capital market with differing borrowing and lending rates. The more general present value criterion not only extends its applicability, but also enables us to better understand some features of the traditional present value criterion for a perfect capital market. 2004 Elsevier B.V. All rights reserved.

authors

• Saving, Thomas

published proceedings

• ECONOMICS LETTERS

author list (cited authors)

• Liu, L. Q., Rettenmaier, A. J., & Saving, T. R.

citation count

• 4

complete list of authors

• Liu, LQ||Rettenmaier, AJ||Saving, TR

publication date

• January 2004

publisher

• Elsevier  Publisher

published in

• Economics Letters  Journal

keywords

• Present Value Criterion
• Project Evaluation

Digital Object Identifier (DOI)

• 10.1016/j.econlet.2004.03.013

start page

• 427

end page

• 432

volume

• 84

issue

• 3

URL

• http://dx.doi.org/10.1016/j.econlet.2004.03.013