The Baltic Region

2012 Issue №3(13)

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The methodological features of managing the value of companies introducing "green" innovations

DOI
10.5922/2079-8555-2012-3-3
Pages
35-43

Abstract

Although it is a common assumption that innovations are one of the most important factors of economic development, there is a need to review some provisions of innovation methodology so that new fundamental values are taken into account more fully. Most recent business models are based on the depletion of natural environment, whose potential has been almost exhausted. It is necessary to introduce new ideas that are of use for society and create values for companies. One way of achieving this goal is “green” (environmental) innovations. The next decade is expected to see a rapid growth in environmental innovations. Their organization and management will require modern — and adequate to the objectives set —technologies. One of those is the quest for value methodology. To date, the quest for value methodology has given rise to several conceptual approaches, which can be used to evaluate the effectiveness of environmental innovations. This article discusses the advantages and disadvantages of major approaches. The author comes to a conclusion that that the modern theory and practice of corporate finance still lacks a generally accepted approach to assessing the value of companies that explicitly takes into account the impact of environmental factors on the cost. The article outlines the basic theoretical frameworks for the formation of such approach.

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