• Discounted cash flow and modern asset pricing methods : project selection and policy implications 

      Emhjellen, Magne; Alaouze, Chris M. (Working Paper, Working paper, 2002-06)
      We examine the differences in the net present values (NPV's) of North Sea oil projects obtained using the Weighted Average Cost of Capital (WACC) and a Modern Asset Pricing (MAP) method which involves the separate discounting ...
    • Project valuation when there are two cashflow streams 

      Emhjellen, Magne; Alaouze, Chris M. (Working Paper, Working paper, 2002-06)
      Some authors (Lewellen, 1977, Shall, 1972, Butters et al., 1987, Laughton and Jacoby, 1993, Jacoby and Laughton, 1992, Salahor, 1998) advocate the separate discounting of different cashflows when calculating net present ...