Abstract
This chapter illustrates a conceptual method of valuing a firm that reflects corporate social responsibility. According to this method, a firm conforming more to environmental standards than others has ceteris paribus a higher firm value. This method combines the ethical aspects of a firm’s activities and the taxation as public policy institution while respecting the cash value of a firm.
(3rd CSR conference, Cologne Business School, 2016)
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Notes
- 1.
This is a fundamental difference from environmental valuation of firm’s activities which tries to value the environmental impacts freely.
- 2.
This is a spirit of taxation under sustainability principle.
- 3.
Variations of this can be considered. For example, one may think of a minimum level of sustainability elements, only for which tax is not deductible.
- 4.
This is a simplification for the purpose of illustration.
References
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Koller, M., Goedhart, M., & Wessels, D. (2005). Valuation: Measuring and managing the value of companies (4th ed.). Hoboken, NJ: Wiley Publishing.
Webster, K. (2015). The circular economy: A wealth of flows. Isle of Wight: Ellen MacArthur Publishing.
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Oh, Y. (2019). Corporate Social Responsibility and the Value of a Firm. In: Schmidpeter, R., Capaldi, N., Idowu, S.O., Stürenberg Herrera, A. (eds) International Dimensions of Sustainable Management. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-04819-8_7
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DOI: https://doi.org/10.1007/978-3-030-04819-8_7
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