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Risk Analysis in Investment Appraisal

  • Savvakis C. Savvides

    (The Cyprus Development Bank)

This paper was prepared for the purpose of presenting the methodology and uses of the Monte Carlo simulation technique as applied in the evaluation of investment projects to analyse and assess risk. The first part of the paper highlights the importance of risk analysis in investment appraisal. The second part presents the various stages in the application of the risk analysis process. The third part examines the interpretation of the results generated by a risk analysis application including investment decision criteria and various measures of risk based on the expected value concept. The final part draws some conclusions regarding the usefulness and limitations of risk analysis in investment appraisal.

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File URL: http://128.118.178.162/eps/fin/papers/0409/0409020.pdf
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Paper provided by EconWPA in its series Finance with number 0409020.

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Length: 33 pages
Date of creation: 07 Sep 2004
Date of revision:
Handle: RePEc:wpa:wuwpfi:0409020
Note: Type of Document - pdf; pages: 33
Contact details of provider: Web page: http://128.118.178.162

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