贴现

一些经济学家和地球之友（FriendsoftheEarth）等环保组织喜欢用零贴现率，从经济角度而言使子孙的灾难成本和我们的灾难成本一样大。

A zero discount rate , favoured by some economists and campaigners such as Friends of the Earth , would make their distress the same as our distress in economic terms .

IPO的估值方法大致可以分为三种：可比公司法、现金流量贴现法和经济收益附加值法。

There are three approaches of valuing IPOs , Comparable Firms approach , Discount Cash Flow approach and Economic Value-Added approach .

诉讼掮客问题刍议关于EVA贴现模型的探讨

A Discussion on the Issue of Litigation Broker

本文对FIDIC合同条款中的价格贴现与调整进行了分析。

This article analyzed price discount and adjustment in FIDIC contract clause .

目前股权估值模型很多，有现金流贴现法、EVA方法、市盈率模型以及市净率模型等等。

There are many valuation models such as CDF , EVA model , P / E model and P / B model etc.

美联储还缩短了部分贴现窗口贷款期限，并提高了向银行提供隔夜资金的短期拍卖工具（termauctionfacilities）最低竞价。

The Fed also shortened the term of some discount window loans and raised the minimum bid in the term auction facilities it uses to supply overnight funds to banks .

“项目的末尾”的确是这个解决方案预期生命的最后阶段，r代表贴现率，或者这个项目的要求回报率。

Where the " end of the project " is really the lifespan of the solution and r is the discount rate , or required rate of return , of the project .

贴现现金流（DCF）就是公司的价值所在。

Discounted Cash Flow ( DCF ) will always tell you what a company is worth .

但一旦设在了这里，它们为何不向商业银行领域扩张，以充分利用存款保险公共保障制度与美联储（Fed）的贴现窗口呢？

But once here , why would they not expand into commercial banking , to gain full access to the public safety net of deposit insurance and the Federal Reserve discount window ?

对优化方案敏感性影响显著的参数主要包括：疫苗保护率、疫苗接种率、HBV感染费、贴现率、疫苗接种费和HBV感染率等。

For the optimal program , the sensitivity parameters are vaccine protection rate , vaccine inoculation rate , HBV infection fee , discount rate , HBV infection rate and vaccination fee . 5 .

目前企业在进行技术创新项目的评估时，所采用的大都是贴现净现值法，即NPV法。

Currently , when the enterprises value the technique innovation items , they like to use the Discounted-Cash-Flow method , namely NPV method .

现行的企业价值评估方法主要有四类：现金流贴现法、相对价值评估方法、经济增加值（EVA）评估方法和实物期权评估方法。

Now there are four main methods of company evaluation : Discounted Cash Flow method , Relative Company Evaluation method , Economic Value Added ( EVA ) method and Practical Option method .

文章首先对以预期现金流为基础的企业价值测算方法进行了介绍，并重点论证了贴现现金流法（DCF法）和经济增加值法（EVA法）在本质上的一致性。

This dissertation given a introduce of the measurement of expected cash flow based enterprise value first , and demonstrated essential uniformity of DCF method and EVA method emphatically .

欧元问世后，商业银行可在欧洲央行（ecb）的贴现窗口，为自己所持有的政府债券进行再融资，而监管者认为这些债券是无风险的。

After the euro came into force , commercial banks could refinance their holdings of government bonds at the discount window of the European Central Bank and regulators treated such bonds as riskless .

结果表明，在不考虑环境成本的情况下，如果贴现率保持在8%以内，CNG公交车生命周期成本均低于柴油车；

The results show that , the LCC of CNG powered bus is less than diesel bus if discount rate is below 8 % and environmental cost is not included ;

即使aig和贝尔斯登的股东失去了大部分股权，也比高盛（goldmansachs）和摩根士丹利（morganstanley）以极低的利率获得贴现和其它支持的情况要好。

Even AIG and Bear Stearns shareholders losing most of their equity was preferable to Goldman Sachs and Morgan Stanley gaining access to the discount window and other support at a knock-down rate .

大量损失主要发生在8月17日这天。当天，美联储（Fed）出人意外地将其贴现利率下调50个基点，促使全球市场扭转跌势，强劲反弹。

Most of the big losses were incurred on Friday August 17 , when the US Federal Reserve unexpectedly announced a cut in its discount rate of 50 basis points , causing global markets to rally sharply out of a downtrend .

首先，BGG模型中在对资产价格定价时，使用的是现金流贴现法。

First , in the BGG model , discounted-cash-flow method is used to price assets .

ifc表示，这个贴现票据项目将帮助其分散资金来源，同时测试本币市场的市场基础设施。

The IFC said the discount note programme would help it to diversify its funding sources , while also testing market infrastructure in the local currency market .

2007-08年的危机毁掉了这种微妙的平衡，不仅迫使欧洲各国政府出手纾困大银行，还迫使美联储（fed）向高盛和摩根士丹利（morganstanley）敞开贴现窗口、为它们提供保护。

The 2007-08 crisis destroyed that delicate balance , not only making European governments rescue large banks but leading to the US Federal Reserve extending the protection of its discount window to Goldman Sachs and Morgan Stanley .

在这样的条件下，利用Gerber-Shiu贴现罚函数推导出了保险公司的破产概率。

An expression of ruin probability in this situation is derived from discussing the Gerber-Shiu discounted penalty function .

相对于市盈率、股息贴现模型等传统的投资价值分析方法，EVA有许多优点，能够更为准确地反映公司股票的真实价值。

To proceed the investment value of the listed companies with the EVA theory compare with Price-earnings ratio and Dividends - discounts model of the traditional profits index can accurately reflect the true value of the companies .

提出了重复和无限重复流速与拥塞控制博弈模型，论证了重复博弈NEP的存在性和最优性，讨论了重复博弈中贴现因子的意义；

Subsequently , repeated and infinite repeated flow and congestion control game model is presented . The existence and optimization of the Nash equilibrium point is proved .

股权自由现金流（FCFE）贴现模型在上市公司价值评估中的应用

The Use of FCFE Discount Model in Evaluation of the Value of the Companies in Stock Market

是的，这是一项十分糟糕的投资：如果你拿出计算器，运行任何一个受MBA们推崇的贴现现金流计算公式，你就会发现很难得出一个正值。

Yes , it 's a terrible investment : if you get out your calculator and run one of those discounted cash flow calculations that MBAs favour , you 'll find it hard to come up with a positive number .

在现金流贴现估价模型中，股权自由现金流（FCFE）是一个更好的预期现金流量。

Free cash flow of equity capital is a better-predicted cash flow in the cash flow discount model .

而在西方MBO实践操作中，经常采用的一种估价方法是现金流贴现估价模型，它以一种全面而又简明的方式，囊括了影响公司价值的因素。

While in west countries , the DCF ( Discount of cash flow ) model is widely used in MBO practice . The model uses a comprehensive and simple way to take most factors that affects the company value into consideration .

本文的结论是在静态博弈条件下企业的Cartel联盟不具有稳定性条件，在重复博弈条件下，企业在合作均衡与竞争均衡之间的选择取决于贴现因子的大小。

The result of the paper is the cartel alliance has no stable promise in the condition of the static game , the choose between the cooperative equilibrium and competitive equilibrium is decided by the numbers of the discount rate .

本文通过对Ohlson模型的再推导，再现了Ohlson模型构建过程中的基本假设，及其与股利贴现模型等价的基本思路。

We deduce Ohlson Model again , which reappear basic assumptions of the model , in the process of building and its dividend discount model equivalent basic ideas .

传统的房地产价值评估NPV方法，对未来预期收益进行时间价值贴现，根据贴现后的现值来评估资产价值，认为资产收益或价格的不确定性因素造成资产价值损失，并忽略资产管理的灵活性价值。

The traditional NPV method discounts the future expected returns and makes evaluations on current asset value . It advocates that uncertainties in the future capital returns or prices will cause value deduction , and neglects the value of flexibility in asset management .