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A Simplification and an Extension of the Bernhard-deFaro Sufficient Condition for a Unique Non-Negative Internal Rate of Return

Published online by Cambridge University Press:  06 April 2009

Richard H. Bernhard
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Extract

In recent issues of the Journal of Financial and Quantitative Analysis, several papers ([7], [1], [4], and [6]) have presented simple sufficient conditions for detecting whether a given pattern of cash flows over time has a unique, simple, nonnegative internal rate of return. One such condition, developed independently by Bernhard [4] and deFaro [6], is easily shown to be the most general of the lot, i.e., to contain the others as special cases. See, e.g., deFaro[6].

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 15 , Issue 1 , March 1980 , pp. 201 - 209
Copyright
Copyright © School of Business Administration, University of Washington 1980

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References

REFERENCES

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