Study On Hurdle Cut-Off Rate Of Building Project Economic Evaluation

Along with《Building project economic evaluation method and parameter》(The third edition), our country economic evaluation system consummates unceasingly, the economic evaluation parameters obtain the further theory discussion and the thorough real diagnosis research. The hurdle cut-off rate as essential parameter in economic evaluation system, is important symbol to reflects this profession investment income level, also is important basis of country and the government department made each policy-making and the policy.《Building project economic evaluation method and parameter》(The third edition), through compiled the business data to surveyed hurdle cut-off rate for 11 main industries 59 stature industries But it still had some places to be possible further to improve and the consummation.This dissertation from the macroscopic economical, first analyzed compares has surveyed the hurdle cut-off rate each computational method and the model, including the APT model, the Ibbotson expansion method, the expansion accumulation model (the black/Green model) and the capital assets pricing model, finally chose the capital assets pricing model (CAPM) to survey the hurdle cut-off rate, then separately used Statistics way and the function calculated the social capital return rate, analyzed and selected two different methods computed results, Afterwards has surveyed the non-risk interest rate, and has selected certain main industry systematic risk coefficient ; After that apply capital assets pricing model (CAPM), calculated the social capital rate of return, the non-risk interest rate, and surveyed hurdle cut-off rate of 22 main industries, 59 stature industries. In which has 29 stature industries hurdle cut-off rate possible as reference for《Building project economic evaluation method and parameter》(The third edition),and 10 industries hurdle cut-off rate possible to supplemented and consummates for《Building project economic evaluation method and parameter》(The third edition)after the appropriate readjustment.