SIGN TESTS FOR ACTUAL INVESTMENTS WITH LATTER PERIOD NET CASH OUTFLOWS
提出简便的符号检验方法，用于分析两种常见多符号变化现金流模式的净现值特征和内部收益率个数，并识别具有唯一内部收益率但存在误导性的投资项目。
Easily calculated sign tests are presented for analyzing the net present value characteristics and the number of internal rates of return of two important practical cases of cash flow patterns with multiple sign changes. Using two tables which summarize the test procedures, it is possible for a decision maker to economically proceed from simple to more advanced procedures (as needed) when analyzing these cash flow patterns. Also considered is a deceptive feature of certain investment projects which have cash flows with multiple sign changes and a unique internal rate of return. A sign test is presented for ruling out this potential problem.