投资回收年限若干特殊问题研究

投资回收年限是工程项目经济评价是一项重要指标，静态指标和动态指标虽已在项目评价中广泛应用，但人们对其理论基础认识不深，尤其是这项指标与净效益准则的关系是否一致，需要从理论上予以分析。基于以上目的，探讨投资回收年限使用条件，动态与静态投资回收年限的关系，投资回收年限、标准投资回收年限、项目使用年限之间的关系，影响动态投资回收年限的两个基本要素等问题，并得出两个重要结论：投资回收年限的使用条件与项目现金流程图之间关系密切；静态投资回收年限、折算利率对动态投资回收年限的影响呈对数形式。

Some special problems in payback period of investment

The payback period of investment is an important index for evaluation of the economic profits from projects. Although the static index and dynamic index of the payback period have been widely used in project evaluation, its theoretic basis still needs further study, especially the consistency between the index and net profit criterion. In consideration of the above fact, some problems are discussed, including the applied condition of the payback period of investment, the relationship between the dynamic and static payback periods of investment, the relationships between the payback period of investment, the standard payback period of investment and the service life of projects, and two important factors affecting the dynamic payback period of investment. Two conclusions are drawn: close relationships exist between the applied condition of payback period of investment and the flow chart of cash transfer; the influence of the static payback period and discount rate on the dynamic payback period of investment is a logarithmic function.