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Ecology-Driven Real Options: An Investment Framework for Incorporating Uncertainties in the Context of the Natural Environment

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Listed author(s):
  • Timo Busch

    ()

  • Volker Hoffmann
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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s10551-009-0043-y
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    Article provided by Springer in its journal Journal of Business Ethics.

    Volume (Year): 90 (2009)
    Issue (Month): 2 (December)
    Pages: 295-310

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    Handle: RePEc:kap:jbuset:v:90:y:2009:i:2:p:295-310
    DOI: 10.1007/s10551-009-0043-y
    Contact details of provider: Web page: http://www.springer.com

    Order Information: Web: http://www.springer.com/social+sciences/applied+ethics/journal/10551/PS2

    Keywords: ecological economics; uncertainty; natural environment; real options; investment planning;

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    1. Jan Lepoutre & Nikolay Dentchev & Aimé Heene, 2007. "Dealing With Uncertainties When Governing CSR Policies," Journal of Business Ethics, Springer, vol. 73(4), pages 391-408, July.
    2. Shih-Fang Lo & Her-Jiun Sheu, 2007. "Is Corporate Sustainability a Value-Increasing Strategy for Business?," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(2), pages 345-358, 03.
    3. Bryan Husted & David Allen, 2007. "Corporate Social Strategy in Multinational Enterprises: Antecedents and Value Creation," Journal of Business Ethics, Springer, vol. 74(4), pages 345-361, September.
    4. Lin, Tyrone T. & Ko, Chuan-Chuan & Yeh, Hsin-Ni, 2007. "Applying real options in investment decisions relating to environmental pollution," Energy Policy, Elsevier, vol. 35(4), pages 2426-2432, April.
    5. Gonzalo Cortazar & Eduardo S. Schwartz & Marcelo Salinas, 1998. "Evaluating Environmental Investments: A Real Options Approach," Management Science, INFORMS, vol. 44(8), pages 1059-1070, August.
    6. Common,Michael & Stagl,Sigrid, 2005. "Ecological Economics," Cambridge Books, Cambridge University Press, number 9780521016704, February.
    7. Laurikka, Harri & Koljonen, Tiina, 2006. "Emissions trading and investment decisions in the power sector--a case study in Finland," Energy Policy, Elsevier, vol. 34(9), pages 1063-1074, June.
    8. Graciela Chichilnisky & Geoffrey Heal, 1993. "Global Environmental Risks," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 65-86, Fall.
    9. William D. Nordhaus, 2006. "The "Stern Review" on the Economics of Climate Change," NBER Working Papers 12741, National Bureau of Economic Research, Inc.
    10. Bénédicte Vidaillet & V. D'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    11. S. Illeris & G. Akehurst, 2001. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 21(1), pages 1-4, January.
    12. Common,Michael & Stagl,Sigrid, 2005. "Ecological Economics," Cambridge Books, Cambridge University Press, number 9780521816458, February.
    13. Roselie McDevitt & Catherine Giapponi & Cheryl Tromley, 2007. "A Model of Ethical Decision Making: The Integration of Process and Content," Journal of Business Ethics, Springer, vol. 73(2), pages 219-229, June.
    14. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
    15. Blyth, William & Bradley, Richard & Bunn, Derek & Clarke, Charlie & Wilson, Tom & Yang, Ming, 2007. "Investment risks under uncertain climate change policy," Energy Policy, Elsevier, vol. 35(11), pages 5766-5773, November.
    16. Marc Le Menestrel & Sybille van den Hove & Henri Claude de Bettignies, 2001. "Processes and consequences in business ethical dilemmas: The oil industry and climate changes," Economics Working Papers 591, Department of Economics and Business, Universitat Pompeu Fabra.
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    Cited by:

    1. Javier Aguilera-Caracuel & Juan Aragón-Correa & Nuria Hurtado-Torres & Alan Rugman, 2012. "The Effects of Institutional Distance and Headquarters’ Financial Performance on the Generation of Environmental Standards in Multinational Companies," Journal of Business Ethics, Springer, vol. 105(4), pages 461-474, February.
    2. Fouilloux, Jessica & Moraux, Franck & Viviani, Jean-Laurent, 2015. "Investing in finite-life carbon emissions reduction program under risk and idiosyncratic uncertainty," Energy Policy, Elsevier, vol. 82(C), pages 310-320.
    3. Mallen, Cheryl & Chard, Chris, 2011. "A framework for debating the future of environmental sustainability in the sport academy," Sport Management Review, Elsevier, vol. 14(4), pages 424-433.
    4. Subrata Chakrabarty & Liang Wang, 2012. "The Long-Term Sustenance of Sustainability Practices in MNCs: A Dynamic Capabilities Perspective of the Role of R&D and Internationalization," Journal of Business Ethics, Springer, vol. 110(2), pages 205-217, October.
    5. Grisard, Claudine, 2014. "La formation de l'accountability en situations conflictuelles," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/13959 edited by Berland, Nicolas.
    6. Cody Jones, 2013. "Moving Beyond Profit: Expanding Research to Better Understand Business Environmental Management," Sustainability, MDPI, Open Access Journal, vol. 5(6), pages 1-29, June.

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