• International Journal of Quality Innovation
• /
• v.9 no.2
• /
• pp.57-77
• /
• 2008

The $21^{st}$ century is a new century of environmental protection. Environmental protection is one of the most important subject matters yet to come. Moreover, as the public pays more attention to environmental problems, enterprises should increase their investment in environmental management. Therefore, determining the investment level for environmental management and allocating the investment to associated environmental management activities has become a major task. The principal and agent theory and sales response functions are used for analysis in this research. The allocation of capital investment in environmental management is found to have significant impact on the aggregate sales response, aggregate profit and investment level. Therefore, in preparing the budget for environmental management, enterprises should focus on investment allocation decisions, determine the investment level and allocation method using integrated means, and apply submarket data in the allocation decision-making process. In other words, in setting the investment level, executive management should take managers' willingness into consideration. In allocating capital investment, managers should identify the optimal allocation method based on submarket characteristics.

• Asia-Pacific Journal of Business
• /
• v.12 no.4
• /
• pp.63-86
• /
• 2021

Purpose - The purpose of this study is to explore the impact of the application of accounting conservatism on the investment efficiency of listed companies in China under the background of the current rising environmental uncertainty. Design/methodology/approach - This study collected 14,934 observations of A-share listed companies in Shanghai and Shenzhen from 2013 to 2020, and analyzed the data by means of moderating effect test and multiple regression analysis. Findings - The results show that environmental uncertainty deteriorates the company's investment efficiency. The higher the level of environmental uncertainty, the more prone to over-investment and under-investment. Accounting conservatism plays moderating role between environmental uncertainty and investment efficiency. Among them, the moderating effect of conditional conservatism is to alleviate under-investment of the company under high financing constraints and the over-investment, while it intensifies the under-investment under low financing constraints. The moderating effect of unconditional conservatism is to alleviate the under-investment. Research implications or Originality - This study finds out the internal mechanism of accounting conservatism affecting investment efficiency, which not only helps to understand about the value of accounting conservatism standards, but also helps to improve the investment efficiency of listed companies.

• Journal of Arbitration Studies
• /
• v.24 no.1
• /
• pp.25-44
• /
• 2014

Conflict between transnational environmental issues and foreign investment in capital-importing states can be commonly found. Actually, several investor-state dispute arbitration cases like Bilcon v. Canada, S.D. Myers v. Canada, and Metalclad v. Mexico concerned environmental matters. States are worried about their measures for securing the environment might be deemed to go against international investment agreements and foreign investors also are anxious because of excessive regulations. Against this backdrop, stakeholders attempt to strike a balance between securing foreign investment and preserving the environment. This article argues that the investment chapter of the Korea-US FTA tries to solve environment-investment collision in investor-state disputes. Before analyzing the provisions of the investment chapter most relevant to environmental issues, this article points out the most typical types of environmental clauses included in international investment agreements. The investment chapter of the Korea-US FTA has provisions which effectively prevent measures from becoming useless when those measures are legitimate measures relevant to environmental matters. This does not mean that the Korea-US FTA completely solves the conflict between environmental issues and the protection of foreign investment, but still it paves the way for a prudent solution which would hash out this thorny problem.

• Journal of Korean Society of Water and Wastewater
• /
• v.23 no.3
• /
• pp.315-320
• /
• 2009

This study found that introduction of environmental systems and increased environmental investment have a major impact on K company's sustainable development. The analysis indicated that the environmental investment variable has a close relationship with production quantity, sales, and the amount of sludge treatment variables in K company. However, all other variables including the cost of disinfection chemicals, and the expenditure of sludge treatment have no relationship with the environmental investment variable. Additionally, short-term results show that the company's environmental expenditure variable is conversely related with the environmental performance variable.

• The Journal of the Korea Contents Association
• /
• v.22 no.8
• /
• pp.287-296
• /
• 2022

The purpose of this study is to verify the effect of government subsidies and R&D investment on the increase in profits of Chinese environmental protection companies. The research method for this was empirically analyzed using the Chinese CSMAR database for 161 Chinese environmental protection companies and using statistical data obtained from 805 samples. The analysis results are as follows. First, government subsidies had a positive effect on the increase in profits of Chinese environmental protection companies. Second, government subsidies had a positive effect on R&D investment by Chinese environmental protection companies. Third, R&D investment had a positive effect on the increase in profits of Chinese environmental protection companies. Fourth, R&D investment through government subsidies has a partial mediating effect on the effect on the increase in profits of Chinese environmental protection companies. In this study, based on the results of the study, a plan was proposed to promote the increase in profits of Chinese environmental protection companies by expanding government subsidies to Chinese environmental protection companies and focusing on R&D investment.

• Journal of Environmental Policy
• /
• v.10 no.2
• /
• pp.61-92
• /
• 2011

We analyzed the efficiency of environment investments by taking examples of central government's environmental investment (CGEI hereafter) and investment in prevention of environmental pollution (IPEP hereafter). We expanded the scope of existing studies by decomposing the internal rate of return (IRR hereafter) and present value of benefit (Bpv hereafter) into variable cost (VC hereafter) reduction, investment cost reduction (STC-VC hereafter), and rent. And we found that Bpv checks only the magnitude of benefit, while IRR indicates the existence of efficiency by investigating short-run total cost (STC hereafter) reduction and rent. Finally, by analyzing investment efficiency and changing benefit with respect to CGEI and IPEP through the investment efficiency methodology that compares IRR with market interest rate, we executed retrospective benefit-cost analysis. Accordingly, CGEI and IPEP are not efficient. However, IPEP is even more inefficient than CGEI.

• Economic and Environmental Geology
• /
• v.41 no.5
• /
• pp.475-484
• /
• 2008

In this study, we analyzed national mining investment security and country risk, and suggested a new index for exploration and development investment for mining projects in abroad by an analysis of relationship between these grades and mineral resource development investment. For this, potential risks for mining in mineral-rich countries are assessed, and the risk of the exploration and development investment for mining projects is relatively evaluated by OECD country risk. It is noted that countries of the lower ranks in OECD are consistently good agreement with the high grade in Behre Dolbear Group Inc. for favorable mineral exploitation, whereas the higher ranks have shown diverse and high risks for the mining investigation and development. Consequently, it is necessary that assessment of the relationship between mineral resource index and country risk for mining projects to be investigated and developed in future should be applied before business decision of mineral investigation projects in abroad.

• International Journal of Computer Science & Network Security
• /
• v.21 no.2
• /
• pp.93-102
• /
• 2021

This paper aims to study the influence of environmental attitudes on the choice of non-professional investors. It highlights the role of environmental performance assurance on investment judgments. This choice is due to the motivation and importance that investors place on the disclosure of environmental information. The main purpose of the research is focused on the empirical approach justified by the use of a questionnaire addressed to 200 non-professional investors. The results show that attitudes towards the environment do not correlate with the importance that gives this category of investors to the environmental information.. Subsequently, the results prove that the disclosure of an environmental assurance report has a positive impact on investment judgments independently of their appreciation of the environmental information concerning that of financial order.

• Environmental and Resource Economics Review
• /
• v.12 no.4
• /
• pp.579-609
• /
• 2003

The role of foreign direct investment (FDI) as a channel of knowledge transfer and on the technological spillovers of know-how to other sectors in the economy is in the middle of this debate. Thus, foreign direct investment may have significant positive effects in reducing residual loadings and environmental pollution. There is an abiding concern expressed by many commentators that countries will lower their environmental standards to attract foreign investment, thereby creating so-called "pollution havens." Others argue that increasing foreign investment could promote "pollution halos" by introducing and transferring more efficient and less polluting technologies. The primary objective of this study is to show the dynamic relationship among pollution loadings, pollution abatement effort, and economic development with explicit consideration of FDI-related effects. This study found when foreign direct investment is evaluated in the model, the environmental pollution level is reduced and expenditure on pollution abatement is increased.

• Journal of Environmental Impact Assessment
• /
• v.11 no.2
• /
• pp.93-107
• /
• 2002

The choice of big public investment project needs an appropriate feasibility analysis before it is implemented, bemuse a rot wisely chosen one would bring about big and longrun societal costs. But the feasibility analysis for the big public investment project in Korea has been done without linking the economic benefits and environmental damages. Consequently social conflicts arose frequently during and after project implementation, owing to such concerns asincreasing costs and serious ecological damages. The recent social conflict over the Saemangeum Project is a typical case. This reclamation project began in 1991 and finished 60% of the whole process in 1999, when its feasibility was again assessed under the public pressure by the joint assessment team consisting of both citizen's and government's professionals. Even the assessment report by this joint team could not show the convincing results owing to the improper assessment procedure and failure to set proper feasibility criteria. This paper pointed out the limitations of our current procedure of feasibility assessment and identified the concrete problems that atosee during the recent reassessment process of the Saemangeum reclamation project by the joint team. In order to improve the current problem-ridden practices, it is concluded by the policy recommendation for establishing a right feasibility assessment procedure for the public investment projects.