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化肥生产具有建设周期长、投资额大、生产时间长等特点。其投资决策属战略性决策,在长时期内对企业韵财务状况有持续的影响。因此,化肥企业对投资方案抉择时,除需认真考虑技术上的先进性之外,还应从成本与效益的关系上着重评价该项投资在经济上的合理性。具体地说,必须根据化肥企业的特点,树立起与时间因素有重要联系的两个观念,即货币的时间价值与投资的风险价值。在我国,化肥企业投资方向是根据市场需要和国民经济计划来定的,由于我国实行的是有计划的商品经济,企业的外部环境
Fertilizer production has the characteristics of long construction period, large amount of investment and long production time. Its investment decisions are strategic decisions that have a lasting impact on the financial status of the company. Therefore, when a fertilizer company decides on an investment plan, in addition to the need to seriously consider the advanced nature of technology, it should also evaluate the economical rationality of the investment from the relationship between cost and benefit. Specifically, according to the characteristics of fertilizer companies, two concepts that have important links with time factors must be established, namely the time value of money and the value of investment risk. In China, the investment direction of chemical fertilizer companies is determined according to the market needs and the national economic plan. Since China implements a planned commodity economy, the company’s external environment