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Austrian Journal of Humanities and Social Sciences, Issue 11-12/2016

DISCOUNT RATE: CONCEPT AND SPECIFIC THEORETICAL AND METHODOLOGICAL APPROACHES TO ITS CALCULATION

DOI: https://doi.org/10.29013/AJH-17-11.12-87-97

Pages: 87 - 97

Authors: Rybkina E. A.

Abstract: Abstract Objective: to analyze different definitions of the concepts that describe a minimum level of income amount, expressed in percentage terms, found in scientific articles of domestic and foreign periodical publications, textbooks, monographs, manuals and normative-legal acts. Methods: in this study we used theoretical research methods for evaluation of data collected during examination of the literary sources. Examination of references gave the opportunity to find out which aspects and issues on the announced subject are already sufficiently well-studied and which of them are still under scientific discussions and which issues remain unsolved. Results: this study actualizes the problem of textual discrepancies and interpretation of the essence of the concept “discount rate”, investigates the correct use of its interpretations by authors in different contexts. Special attention is paid to the results of analysis of approaches to the term in view of economic and mathematical (technical) senses. Scientific novelty: the author systematized and analyzed topical interpretations of the essence “discount rate” and revealed the obtained results from economic and mathematical points of view. Economic sense of discount rate means the minimum interest rate, below which the amount of relative income is not acceptable (allowable) for the potential investor; mathematical sense is revealed in the instruments that define its value (amount of interest). Practical value: fundamental propositions of this work can be used in research activities on the issue of calculation and application of the discount rate; the work may be of interest for practicing economists

Keywords: discount rate, investments, risk, discounting, rate, per cent, coefficient

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