RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES

In traditional economics and finance the notion of value creation is virtually synonymous with the net present value of cash flows. Such a characterization implies that all of the uses of resource inputs, such as raw material and energy, are known and that their value is priced into commodities mark...

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Autores principales:	Hazy,James K, Torras,Mariano, Ashley,Alian S
Lenguaje:	English
Publicado:	Universidad Alberto Hurtado. Facultad de Economía y Negocios 2008
Materias:	resources sustainability value creation
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242008000100005
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spelling	oai:scielo:S0718-272420080001000052009-06-09RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCESHazy,James KTorras,MarianoAshley,Alian S resources sustainability value creation In traditional economics and finance the notion of value creation is virtually synonymous with the net present value of cash flows. Such a characterization implies that all of the uses of resource inputs, such as raw material and energy, are known and that their value is priced into commodities markets. It also fails to allow for the opportunity cost associated with the depletion of resources which, with advancing technology, might reasonably have future uses far greater in value than can be achieved at present with current technology. Stated differently, in traditional valuation analysis the option value associated with scarce resources -when new technology or knowledge can be applied to them- is not addressed. In the present work, we define technology leverage as representative of this effect.We then address the problem of sustainability of organizations by stating four proposi-tions and examining their implications for government policy and for firm governance.info:eu-repo/semantics/openAccessUniversidad Alberto Hurtado. Facultad de Economía y NegociosJournal of technology management & innovation v.3 n.3 20082008-01-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242008000100005en10.4067/S0718-27242008000100005
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	resources sustainability value creation
spellingShingle	resources sustainability value creation Hazy,James K Torras,Mariano Ashley,Alian S RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
description	In traditional economics and finance the notion of value creation is virtually synonymous with the net present value of cash flows. Such a characterization implies that all of the uses of resource inputs, such as raw material and energy, are known and that their value is priced into commodities markets. It also fails to allow for the opportunity cost associated with the depletion of resources which, with advancing technology, might reasonably have future uses far greater in value than can be achieved at present with current technology. Stated differently, in traditional valuation analysis the option value associated with scarce resources -when new technology or knowledge can be applied to them- is not addressed. In the present work, we define technology leverage as representative of this effect.We then address the problem of sustainability of organizations by stating four proposi-tions and examining their implications for government policy and for firm governance.
author	Hazy,James K Torras,Mariano Ashley,Alian S
author_facet	Hazy,James K Torras,Mariano Ashley,Alian S
author_sort	Hazy,James K
title	RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
title_short	RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
title_full	RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
title_fullStr	RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
title_full_unstemmed	RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES
title_sort	reconceptualizing value creation with limited resources
publisher	Universidad Alberto Hurtado. Facultad de Economía y Negocios
publishDate	2008
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242008000100005
work_keys_str_mv	AT hazyjamesk reconceptualizingvaluecreationwithlimitedresources AT torrasmariano reconceptualizingvaluecreationwithlimitedresources AT ashleyalians reconceptualizingvaluecreationwithlimitedresources
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RECONCEPTUALIZING VALUE CREATION WITH LIMITED RESOURCES

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