The current literature often values intangible goods like cultural heritage by applying stated preference methods. In recent years, however, the increasing availability of large databases on real estate transactions and listed prices has opened up new research possibilities and has reduced...

This paper argues the case that tests of how investors value corporate social performance (CSP) based upon realised stock market returns are liable to be weak tests if markets are efficient and firms change CSP policies infrequently. We provide a theoretical explanation of why this will be the...

For some time now, ecological economists have been putting forward a ‘threshold hypothesis’ – the notion that when macroeconomic systems expand beyond a certain size, the additional cost of growth exceeds the flow of additional benefits. In order to support their belief, ecological...

Corporate responsibility has become an important issue for management to address. The responsibility of the organization for the public environment (ecological, social and economic aspects of the environment) has become a matter of management attention referring to the entire organization and...

There are both similarities and differences between conducting cost-benefit analysis in developed and developing countries . While the fundamental principles and theory underlying cost-benefit analysis maybe the same , the methodologies and the estimation techniques that are most appropriate in...

This article explores the methods of management strategies used during the financial restructuring of the company; The factors that affect the level of risk when making restructuring; formulated the essential view, the effectiveness of the financial restructuring of the company; parametric...

This paper shows that the three valuation methods (if used correctly) always yield the same result. The most striking result of this paper is that the Net Present Value of the tax shield due to interest payments (in the APV approach) should be calculated as follows in order to derive an accurate...

This paper provides guidelines to evaluate the appropriateness of 23 different valuation methods for estimating the present value of tax shields. We first show that the value of tax shields is the difference between the present values of two different cash flows with their own risks: the present...