We review the burgeoning sustainable finance literature, emphasizing the value implications of ESG (environmental, social, and governance) and CSR (corporate social responsibility) practices. We use a discounted cash flow valuation framework to identify value drivers through which such practices...

Part I: The Concept of Value, Existence of a Firm, and The Objective Value Maximization -- AN OVERVIEW OF CORPORATE VALUATION -- CORPORATE VALUE CREATION -- TIME VALUE OF MONEY -- SECURITY MARKETS -- Part II: Financial Information as a Source of Valuation Inputs -- OVERVIEW OF FINANCIAL...