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The Research on Risk Discount Rate of Shaanxi Relics Tourism Project Finance
Author: ZhengShengXiang
Tutor: LiuXiaoJun
School: Xi'an University of Architecture and Technology
Course: Management Science and Engineering
Keywords: Project financing Ruins Development of tourism projects Risk Discount rate
CLC: F592
Type: Master's thesis
Year: 2003
Downloads: 250
Quote: 2
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Abstract
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Project financing refers to a specific project to raise funds , and as a source of funds to repay only the income of the project itself , project income and assets as capital repayment risk protection and commitment to repay the financing responsibility . Whether the project financing can be applied Shaanxi ruins tourism project ? Key economic strength depends on the site of the tourism project , and the economic strength of the project is a concrete manifestation of the discount rate of the project . Shaanxi ruins tourism project investment , long cycle, risk , investment income rich , based on full analysis of research the Shaanxi tourism industry investment environment as well as the ruins tourism project investment risk , through project financing and traditional financing methods are compared , to measure the risk discount rate Shaanxi ruins tourism projects . The Shaanxi the relics tourism project financing risk discount rate determination is based on the capital asset pricing model as the theoretical basis based on project-related capital markets in the risk-free rate of return the R f project < / sub > capital market the average yield R m < / sub> and project risk coefficient β parameters of quantitative research based on the analysis to correctly reflect the expected revenue of the relationship between risk and return in Shaanxi ruins tourism project development process rate. The Shaanxi the relics tourism project risk discount rates determine the ruins tourism projects take the project financing for the development of the way the project has practical significance , evaluation parameters as a site of tourism development projects in the investment decision-making or the economic evaluation of the project to the risk discount rate correct decision on the ruins tourism development projects , the successful implementation of the project financing in the ruins tourism development , as well as risk control in the project implementation process , has a practical significance and guiding role .
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