Le coût implicite de la pollution industrielle imputé aux entreprises
The purpose of this study is to evaluate how investors take a firm's industrial pollution into account when determining its stock market value. In fact, it is assumed that an implicit cost is attributed to a firm's stock market valuation as a result of its industrial pollution performance. Such a cost is deemed to be implicit since it does not appear in a firm's financial statements. However, its existence could well have an explicit impact of a firm's future financial performance. L’objet de la présente recherche est de quantifier l’incidence sur la valeur d’une entreprise de la prise en compte, par les investisseurs, de son bilan environnemental. Il est présumé qu’un coût implicite est imposé à chaque entreprise par les marchés boursiers selon la qualité de son bilan environnemental. Ce coût implicite n’apparaît pas aux états financiers de l’entreprise, mais son existence peut avoir des conséquences explicites sur sa performance financière future.
Volume (Year): 72 (1996)
Issue (Month): 2 (juin)
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- Barth, Mary E. & Beaver, William H. & Landsman, Wayne R., 1992. "The market valuation implications of net periodic pension cost components," Journal of Accounting and Economics, Elsevier, vol. 15(1), pages 27-62, March.
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