scholarly journals Preventing Environmental Disasters in Investment under Uncertainty

2021 ◽  
Author(s):  
Peter Kort ◽  
Maria Lavrutich ◽  
Cláudia Nunes ◽  
Carlos Oliveira
Keyword(s):  
Adverse Effect ◽  
Firm Value ◽  
Market Entry ◽  
Environmental Damage ◽  
Market Uncertainty ◽  
Significant Delay ◽  
Project Investment ◽  
Investment Under Uncertainty ◽  
Environmental Disasters ◽  
Preventive Investment

AbstractThe paper considers a firm that has the option to invest in a project with an unknown profitability, which is affected by general market uncertainty. The project has the adverse effect that it can cause environmental damage. In case the firm has the option to undertake preventive investment at the time of market entry, we get that preventive investment is significant when (i) the project revenue is large, (ii) the environmental incidents potentially cause a huge reduction of firm value, and (iii) when preventive investment substantially decreases the probability of environmental damage occurrence. The optimality of such a preventive investment results in a significant delay of the project investment. When the firm has the possibility to invest in the project first and do the preventive investment later, this will accelerate the project investment and will result in a larger preventive investment when it indeed will decide to do that one later.

A Taxonomy of Green Information and Communication Protocols and Standards

2011 ◽  
pp. 364-376 ◽  
Author(s):  
Jungwoo Ryoo ◽  
Young Choi
Keyword(s):  
Adverse Effect ◽  
Energy Consumption ◽  
Communication Technology ◽  
Systems Engineering ◽  
New Technologies ◽  
Communication Protocols ◽  
Environmental Damage ◽  
The Status ◽  
Information And Communication ◽  
Green Ict

Due to increased awareness of human’s adverse effect on the environment, many new technologies to mitigate the environmental damage are under development. Although innovative, many of these technologies are often developed in isolation and consequently incompatible with each other. From the viewpoint of Systems Engineering, this presents an enormous challenge since compatibility among different elements of a system is crucial in achieving an optimal operational state that minimizes energy consumption. Therefore, standardization in the form of protocols is a key to accomplishing the goal of green Information and Communication Technology (ICT). In this chapter, the authors examine the existing green ICT technologies and their protocols to identify both obvious and subtle strengths and weaknesses. Particularly, the authors scrutinize the interoperability of the existing green ICT protocols and provide insights on how to improve the status quo. In addition, information on emerging governing bodies of green ICT protocols is provided.

Environmental pollution and perturbations.

2021 ◽  
pp. 19-35
Author(s):  
Paul A. Rees
Keyword(s):  
Environmental Pollution ◽  
Food Chains ◽  
Environmental Damage ◽  
Environmental Disasters

Abstract This chapter contains questions about the pollution of air, land and water (and its effect on food chains), environmental damage and disturbance and major environmental disasters.

scholarly journals The Mediation Effect Firm Performance on Green Innovation and Firm Value: Evidence the Mining Industry

2021 ◽  
Vol 12 (3) ◽  
pp. 1377-1783
Author(s):  
Andi Auliya Ramadhany Et.al
Keyword(s):  
Financial Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Mining Industry ◽  
Secondary Data ◽  
Total Sample ◽  
Iso 14001 ◽  
Mediation Effect ◽  
Environmental Damage ◽  
Green Innovation

Global warming is currently an issue that is widely discussed of both the accounting literature and others. The topic of environmental performance is gaining increasing attention from academics and politics when it is associated with each country’s policies regarding environmental damage. Purpose: This article to investigate both the direct and indirect the effect of green innovation and firm value on financial performance as mediating variable Design/methodology/approach: The samples in this study are applied using purposive sampling ad obtained total sample of PROPER participating companies listed in Indonesia Stock Exchange during the year of 2012-2018. The data used in this study are secondary data obtained from annual report. Companies are listed on the Indonesia Stock Exchange in mining industry in 2012-2018. The variable green innovation was measured by using PROPER, the financial performance was measured by ROA and the firm value were measured by Tobin’s Q. Data processing uses SEM-PLS with WarpPLS 6.0 with the consideration that SEM-PLS is a reliable tool for testing predictive models. Several studies using capital market data in Indonesia have found data with abnormal distribution, so data using PLS is appropriate. Result of the study: The authors find that the green innovation has a positive effect on the firm value and financial performance full mediate the effect green innovation and firm value. Research limitations: this article only examines green innovation using the PROPER measure while the green innovation measure is thought to be related to company value such as ISO 14001, content analysis is not discussed at all in this article and the research sample is limited to mining companies. This scope may not be able to describe the overall conditions in Indonesia. Originality/value: This study comprehensively examines both direct and indirect effect of green innovation with financial performance and firm value, which is rarely examined in extant studies.

scholarly journals Confining value from neural networks

2019 ◽  
Vol 45 (10/11) ◽  
pp. 1433-1457 ◽  
Author(s):  
Ioannis Anagnostopoulos ◽  
Anas Rizeq
Keyword(s):  
Neural Networks ◽  
Firm Value ◽  
Stock Price ◽  
Predictive Accuracy ◽  
Target Identification ◽  
Methodological Approach ◽  
Market Uncertainty ◽  
Content Type ◽  
Financial Variables ◽  
Price Bubbles

Purpose This study provides valuable insights to managers aiming to increase the effectiveness of their diversification and growth portfolios. The purpose of this paper is to examine the value of utilizing a neural networks (NNs) approach using mergers and acquisition (M&A) data confined in the US technology domain. Design/methodology/approach Using data from Bloomberg for the period 2000–2016, the results confirm that an NN approach provides more explanation between financial variables in the model than a traditional regression model where the NN approach of this study is then compared with linear classifier, logistic regression. The empirical results show that NN is a promising method of evaluating M&A takeover targets in terms of their predictive accuracy and adaptability. Findings The findings emphasize the value alternative methodologies provide in high-technology industries in order to achieve the screening and explorative performance objectives, given the technological complexity, market uncertainty and the divergent skill sets required for breakthrough innovations in these sectors. Research limitations/implications NN methods do not provide for a fuller analysis of significance for each of the autonomous variables in the model as traditional regression methods do. The generalization breadth of this study is limited within a specific sector (technology) in a specific country (USA) covering a specific period (2000–2016). Practical implications Investors value firms before investing in them to identify their true stock price; yet, technology firms pose a great valuation challenge to investors and analysts alike as the latest information technology stock price bubbles, Silicon Valley and as the recent stratospheric rise of financial technology companies have also demonstrated. Social implications Numerous studies have shown that M&As are more often than not destroy value rather than create it. More than 50 percent of all M&As lead to a decline in relative total shareholder return after one year. Hence, effective target identification must be built on the foundation of a credible strategy that identifies the most promising market segments for growth, assesses whether organic or acquisitive growth is the best way forward and defines the commercial and financial hurdles for potential deals. Originality/value Technology firm value is directly dependent on growth, consequently most of the value will originate from future customers or products not from current assets that makes it challenging for investors to measure a firm’s beta (risk) where the value of a technology is only known after its commercialization to the market. A differentiated methodological approach used is the use of NNs, machine learning and data mining to predict bankruptcy or takeover targets.

A Taxonomy of Green Information and Communication Protocols and Standards

2011 ◽  
pp. 405-417
Author(s):  
Jungwoo Ryoo ◽  
Young Choi
Keyword(s):  
Adverse Effect ◽  
Energy Consumption ◽  
Communication Technology ◽  
Systems Engineering ◽  
New Technologies ◽  
Communication Protocols ◽  
Environmental Damage ◽  
The Status ◽  
Information And Communication ◽  
Green Ict

Due to increased awareness of human’s adverse effect on the environment, many new technologies to mitigate the environmental damage are under development. Although innovative, many of these technologies are often developed in isolation and consequently incompatible with each other. From the viewpoint of Systems Engineering, this presents an enormous challenge since compatibility among different elements of a system is crucial in achieving an optimal operational state that minimizes energy consumption. Therefore, standardization in the form of protocols is a key to accomplishing the goal of green Information and Communication Technology (ICT). In this chapter, the authors examine the existing green ICT technologies and their protocols to identify both obvious and subtle strengths and weaknesses. Particularly, the authors scrutinize the interoperability of the existing green ICT protocols and provide insights on how to improve the status quo. In addition, information on emerging governing bodies of green ICT protocols is provided.

scholarly journals Public Attention Reduced Forest Fires in the Brazilian Amazon

2021 ◽  
Author(s):  
Rafael Araujo ◽  
Francisco Costa ◽  
Teevrat Garg
Keyword(s):  
Forest Fires ◽  
Environmental Issues ◽  
Brazilian Amazon ◽  
Environmental Damage ◽  
Public Attention ◽  
Environmental Disasters ◽  
Active Fire ◽  
International Pressure ◽  
Bolivian Amazon ◽  
Before And After

Abstract International frameworks and agreements to reduce anthropogenic environmental disasters rely on international pressure driving local action. Although environmental catastrophes can occasionally capture international attention, it is unclear if focused media and increased public outcry can reduce environmental damage. We study the unusual and concentrated increase in international scrutiny on forest fires in the Brazilian Amazon in August 2019. Comparing active fires in the Brazilian Amazon versus those in the Peruvian and Bolivian Amazon before and after a surge in public attention on the Brazilian Amazon, we find that increased public attention reduced fires by 22% (93,607 avoided pixel-days of active fire) avoiding 24.81 million MtCO2 in emissions. Our results highlight the power of international pressure to compel governments to act on pressing environmental issues, even in political contexts hostile to environmental priorities.

scholarly journals influence of capital structure, its size, growth of the value of the company with its profitability as variable intervening the company LQ45 are listed in Indonesia stock exchange

2021 ◽  
Vol 4 (4) ◽  
pp. 487-493
Author(s):  
Mgs. Abdul Hakim Fahmi ◽  
Mohamad Adam ◽  
Marlina Widiyanti ◽  
Isnurhadi Isnurhadi
Keyword(s):  
Adverse Effect ◽  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Firm Growth ◽  
Stock Exchange ◽  
Significant Positive Effect ◽  
Size Growth ◽  
Size Firm ◽  
Positive Effect

This study aimed to determine the effect of capital structure, firm size, firm growth on firm value with profitability as an intervening variable in LQ45 companies listed on the Indonesia Stock Exchange in 2018-2020. The sample used is 33 LQ45 companies during the period 2018-2020. This research uses multiple linear regression and path analysis. The results showed that the capital structure had a significant adverse effect on profitability and firm value. Meanwhile, firm size and growth do not significantly affect profitability and firm value. Profitability has a significant positive effect on firm value. Indirectly, capital structure affects firm value through profitability, while firm size and growth do not indirectly affect firm value.

AN OPTIMAL MARKET ENTRY/EXIT EVALUATION MODEL WITH PARTIAL FINANCING FUNDS

2010 ◽  
Vol 27 (02) ◽  
pp. 257-269
Author(s):  
TYRONE T. LIN ◽  
CHUAN-CHUAN KO ◽  
CHIEN-YU LIU
Keyword(s):  
Decision Making ◽  
Firm Value ◽  
Market Entry ◽  
Evaluation Model ◽  
Investment Decision ◽  
Optimal Decision ◽  
Production Volume ◽  
Maximum Profit ◽  
Market Exit ◽  
The Face

The paper mainly aims to introduce the real options approach to construct an evaluation model for the firm value under partial financing funds. The paper examines that production volume follows the geometric Brownian motion and considers that both the market entry of investment cost and the market exit of withdrawal cost match the linear function with production volume. Then the paper evaluates the potential firm value before market entry, the operational value with the firm's operating, and the market exit value with the firm's stopping to operate so as to assess the whole firm value, shareholder value, and bondholder value hereafter. The results show that different debt ratios will affect the firm's investment decision. The paper figures out the optimal decision-making based on the maximum profit of shareholders or the maximum profit of shareholders-and-bondholders. The factor is finance leverage; although interest expenses are tax deductible, an overly high leverage may trigger agency costs for a firm, which will offset the tax shields associated with leverage. Therefore, a firm should not leverage too much. Furthermore, the paper constructs an innovative evaluation model in a dynamic-financing environment in order to provide the management team with a decision-making mechanism for their decisions in market entry or market exit in a timely manner in the face of uncontrollable exogenous variables.

scholarly journals Considerações acerca das responsabilidades e obrigações entre Estados perante a transnacionalidade de desastres ambientais

2017 ◽  
Vol 6 (2) ◽  
pp. 385-412
Author(s):  
Carolina Lückemeyer Gregorio
Keyword(s):  
International Law ◽  
International System ◽  
Environmental Law ◽  
Environmental Damage ◽  
Environmental Disasters ◽  
International Obligation ◽  
International Obligations ◽  
International Responsibility ◽  
Bonding Systems ◽  
Dialectical Analysis

O artigo pretende apresentar a obrigação internacional, bem como o instituto da responsabilidade internacional dos Estados e suas implicações, no contexto ambiental, canalizando a abordagem para desastres ecológicos, que têm características e especificidades particulares que o diferem do dano ambiental em estrito senso. Então, estruturam-se os elementos de responsabilidade, tanto suas fundações como sua aplicação no sistema internacional, com colação de casos emblemáticos internacionais para exposição e comparação. Utilizou-se como método para a pesquisa a análise histórica, bem como a revisão de livros, revistas jurídicas e o estudo de legislações relevantes. Conclui-se que a realidade das relações internacionais é a de que se entende que estas se validam pelo reconhecimento dos agentes internacionais do direito internacional. Independentemente da eficácia ou de natureza, os sistemas internacionais de estabelecimento de obrigações possuem, em primeiro lugar, a função de estabelecer o respeito à determinada situação, entendimento ou norma internacional, bem como adequar as leis domésticas, e a cooperação internacional é de suprema importância quando se fala em proteção ambiental, que deve ser abordada  de modo global. Palavras-chave: Direito Internacional, Direito Ambiental, Obrigações internacionais, Responsabilidade Internacional do Estado, Desastres ambientais.      Abstract: The article intends to present the international obligation, as well as the institute of the international responsibility of the States and their implications, in the environmental context, channeling the approach to ecological disasters, which have particular characteristics and specificities that differ from simple environmental damage. Then, the elements of responsibility are structured, both their foundations and their application in the international system, with collation of international emblematic cases for exhibition and comparison. Historical and dialectical analysis was used as a method for the research, as well as the literature review of books, legal journals and the study of relevant legislation. It is concluded that the reality of international relations is that it is understood that these are validated by the recognition of the international agents of international law. Regardless of effectiveness or nature, international bonding systems have, first of all, the function of establishing respect for a given international situation, understanding or standard, as well as domestic laws, and international cooperation is paramount When it comes to environmental protection, which should be tackled globally. Keywords: International law, Environmental Law, International obligations, International Responsibility of States, Environmental disasters.     Recebido em: fevereiro/2017. Aprovado em: agosto/2017.

scholarly journals CARBON EMISSIONS DISCLOSURE AND FIRM VALUE: DOES ENVIRONMENTAL PERFORMANCE MODERATE THIS RELATIONSHIP?

2021 ◽  
Vol 7 (1) ◽  
pp. 51
Author(s):  
Mohammad Hardiyansah ◽  
Aisa Tri Agustini
Keyword(s):  
Performance Appraisal ◽  
Carbon Emissions ◽  
Environmental Performance ◽  
Firm Value ◽  
Stock Index ◽  
Environmental Damage ◽  
Measurement Tool ◽  
Content Analysis Method ◽  
Operational Activities ◽  
The Impact

The objectives of this research is to examine the role of environmental performance in the relation between carbon emissions disclosure and firm value. A measurement tool using content analysis method to measure carbon emissions disclosure that adopts a checklist from the Carbon Disclosure Project (CDP). Firm value is proxies with Tobin's Q, while environmental performance is assessed based on the results of the environmental management performance appraisal program (PROPER). Sample of this study using 34 companies that listed on the Indonesian Sharia Stock Index (ISSI) from 2014 to 2019. Moderated regression analysis (MRA) is used to test the hypothesis. The results indicate the carbon emissions disclosure has a positive and significant effect on firm value. This research also found that there is an evidence that environmental performance can strengthen the relation of carbon emissions disclosure to firm value, due to the company's efforts by participating in the PROPER program is a form of corporate responsibility in an effort to reduce the impact of environmental damage arising from the company's operational activities which have been responded positively by investors.

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