The Factors of Ecological Responsibility and Their Influence on Company Value

Corporate environmental responsibility and its impact on the financial performance of the company is a considerable subject of study among many researchers now, because of the increasing public demand for environmental protection. However, the relationship between environmental responsibility and company value is poorly researched. This final paper presents an analysis of the value of Russian companies in the context of corporate environmental responsibility. Through the econometric methods, the nature and direction of the relationship between the company value and the level of environmental responsibility are identified, and the key factor of environmental responsibility that influences the company value more strongly is determined. This study demonstrates the importance of introducing the concept of environmental responsibility in companies, especially environmentally harmful sectors of the Russian economy.