Public value of environmental investments: a conceptual outlook on the management of normatively determined risks

von Müller, Camillo and Brieger, Steven A (2016) Public value of environmental investments: a conceptual outlook on the management of normatively determined risks. In: Ramiah, Vikash and Gregoriou, Greg N (eds.) Handbook of Environmental and Sustainable Finance. Elsevier, pp. 131-145. ISBN 9780128036150

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Abstract

In this chapter we assume the perspective of environmentally conscious investors. We hold that the latter are interested in both the objective determinants and the subjective factors that determine if and to what extent owners of an externalities producing technology incorporate these externalities into their production functions. We use public value theory as concept that explains the normatively determined inclusion of externalities into a firm's production function as a result of changing consumer preferences and dynamic legislative environments. We propose that environmentally conscious investing can be compared to buying a put option on public value risks and describe the mechanics of this option.

Item Type: Book Section
Schools and Departments: School of Business, Management and Economics > Business and Management
Depositing User: Steven Brieger
Date Deposited: 13 Feb 2018 09:59
Last Modified: 01 Apr 2019 16:44
URI: http://sro.sussex.ac.uk/id/eprint/73519

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