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A Fortran Program for Applying Sturm's Theorem in Counting Internal Rates of Return

Journal of Financial and Quantitative Analysis 1981 16(3), 381
The algorithm leading to a solution of the above question has been known at least since Kaplan's 1965 tutorial [5] on Sturm's theorem. The Sturm-Kaplan method has the power to count all zeros on the real axis between any two specified limits. A significant problem may arise, however, when one tries to generate the Sturmian functions which play a central part in the Sturm-Kaplan method. The rather arduous nature of the task derives from the necessity to perform several polynomial (synthetic) divisions. As the number of cash flows involved in the analysis increases, the time and effort required to determine the Sturmian functions increase as well.