3 papers
econ.GN2025
Defining the payback period for nonconventional cash flows: an axiomatic approach
Mikhail V. Sokolov
The payback period is unambiguously defined for conventional investment projects, projects in which a series of cash outflows is followed by a series of cash inflows. Its definitio…
econ.GN2023
An effective interest rate cap: a clarification
Mikhail V. Sokolov
Many countries impose regulatory restrictions on lending rates known as interest rate caps. In most cases, these restrictions apply to the effective (rather than nominal) interest…
econ.GN2023
NPV, IRR, PI, PP, and DPP: a unified view
Mikhail V. Sokolov
This paper introduces a class of investment project's profitability metrics that includes the net present value (NPV) criterion (which labels a project as weakly profitable if its…