MODIFIED INTERNAL RATE OF RETURN OF THE INVESTMENT PROJECT

The paper examines the methodological problems of the use of the most impor-tant criteria for the evaluation of investment projects, based on discounted cash flows. Authors consider the properties, advantages and disadvantages of the modified internal rate of return (MIRR) in the process of evaluation of the investment project to deter-mine its suitability to objectively assess the level of efficiency of the investments in various situations, in particular in the presence of an unusual cash flow.