@article{oai:nagasaki-u.repo.nii.ac.jp:00022427,
 author = {上野, 清貴},
 issue = {2},
 journal = {經營と經濟},
 month = {Sep},
 note = {The purpose of this paper is to study the cash flow return on investment (CFROI) accounting from a viewpoint of corporate valuation and to clarify the characteristics and the grounds. The characteristics and the grounds of CFROI accounting are as follows. (1) The CFROI accounting is the real present value accounting. (2) In the CFROI accounting, the investment valuation in the future is directly done by CFROI prediction and real-asset growth rate prediction. (3) The discount rate of CFROI accounting is the market related discount rate, the future oriented discount rate, and the discount rate in which the feed-back system is inherent. The most important characteristic of the CFROI accounting is that since the investment valuation in the future is directly done and valuation of the existing assets is also directly done, the corporate value is the real value only by independent variables., 經營と經濟. 2006, 86(2), p. 1-28},
 pages = {1--28},
 title = {CFROI会計と企業価値評価},
 volume = {86},
 year = {2006}
}