Ecology-driven real options: An investment framework for incorporating uncertainties in the context of the natural environment [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
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Journal of Business Ethics 90 (2):295 - 310 (2009)
The role of uncertainty within an organization’s environment features prominently in the business ethics and management literature, but how corporate investment decisions should proceed in the face of uncertainties relating to the natural environment is less discussed. From the perspective of ecological economics, the salience of ecology-induced issues challenges management to address new types of uncertainties. These pertain to constraints within the natural environment as well as to institutional action aimed at conserving the natural environment. We derive six areas of ecology-induced uncertainties and propose ecology-driven real options as a conceptual approach for systematically incorporating these uncertainties into strategic management. We combine our results in an integrative investment framework and illustrate its application with the case of carbon constraints.
|Keywords||ecological economics uncertainty natural environment real options investment planning|
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References found in this work BETA
O. C. Ferrell (2013). Business Ethics: Ethical Decision Making and Cases. Houghton Mifflin Co.
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Citations of this work BETA
Subrata Chakrabarty & Liang Wang (2012). The Long-Term Sustenance of Sustainability Practices in MNCs: A Dynamic Capabilities Perspective of the Role of R&D and Internationalization. [REVIEW] Journal of Business Ethics 110 (2):205-217.
Pascual Berrone, Andrea Fosfuri & Liliana Gelabert (forthcoming). Does Greenwashing Pay Off? Understanding the Relationship Between Environmental Actions and Environmental Legitimacy. Journal of Business Ethics.
Richard Peters, Ethan Waples & Peggy Golden (2014). A Real Options Reasoning Approach to Corporate Social Responsibility : Integrating Real Option Sensemaking and CSR Orientation. Business and Society Review 119 (1):61-93.
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