Financial Resources
Click to enlarge
Analysts have known for years that company valuations are primarily related to intangible value rather than book value. The question is: how do you reliably assess intangible value — that is, what should be taken into account, and how do you quantify the effect? On this page you will find a variety of resources that can help answer those questions. You can also find more resources on our LINKS page.
Finance-related Articles
Social Responsibility Is Entering the Corporate World
by Bruce Piasecki
An op/ed piece, published August 6, 2007 in the Philadelphia Inquirer, about how product quality and competitive pricing no longer rule as the most critical variables in the equation for business success, but social responsibility is now coming into play as a third strategic factor.
Can California Save the World's Climate?
by Peter Asmus
A discussion of California's new carbon emissions law, AB 32, which may actually represent the most radical climate change policy in the world. Published in the San Francisco Chronicle, October 8, 2006.
Mandating Corporate Behavior: Can One Set of Rules Fit All?
by George S. Dallas and Hal S. Scott
This white paper, published by McGraw-Hill in Spring 2006, sees an expanding role for investors in monitoring corporate behavior. However, the Standard & Poor's and Harvard Law School authors say that uniform global rules for corporate governance do not suit all companies or circumstances.
[free download in PDF format, with press release]
A Better Shade of Green for Wall Street
by Bruce Piasecki and Peter Asmus
Article published in the Christian Science Monitor, April 3, 2006
Discusses the implications of the recent, groundbreaking initiative by the investment banking firm of Goldman Sachs in adopting a comprehensive environmental policy that acknowledges the value of "ecosystem services."
[free download in PDF format]
Financiers Link Sound Ecology, Economy at Last
by Peter Asmus and Bruce Piasecki
Article published in the Mercury News, March 1, 2006
Examines the implications of leading financial firms such as Goldman Sachs in adopting a comprehensive environmental policy that acknowledges the value of "ecosystem services."
[free download in PDF format]
Money Will Not Manage Itself:
Corporate Governance and the Shift of Financial Markets
by Dr. Bruce Piasecki, Founder & President of AHC Group.
[free download in PDF format]
Being a Good Investment
by Alan Banks, former AHC Group Senior Associate, CEO of LoSoNoCo biofuels, and former CEO of Fitch CoreRatings/USB Analyst
Article first published in the Environment Council's quarterly journal.
[free download in PDF format]
Estimating Investment Risk Post-Enron
by Alan Banks, AHC Senior Associate
Article published in Sustainable Business Investor magazine.
[free download in PDF format]
Better Governance:
To Avoid Risks or to Create Value?
by George Dallas, Managing Director & Global Practice Leader, Governance Services, Standard & Poor's
Why corporate governance should not be looked at as an external discipline that imposes costs, but rather as an internal discipline that adds value.
[online abstract of article from Corporate Strategy Today, issue 11]
Transparency on Governance and Risk
Chief Executive Officer talks with George Dallas, managing director for global governance services at Standard & Poor's, about the growing interest in governance ratings from investors worldwide.
[online article at CEO Journal Online]
Investor Confidence in Corporate Climate Management and Disclosure
by David Monsma
[article available online at ClimateBiz.com]
Finance-related Websites
Corporate Governance: Codes and Principles
www.corpgov.net/
A compendium of articles, documents, and papers online.
World Bank: Principles of Best Practices and Codes
rru.worldbank.org/
A comprehensive listing of papers and links to leading reference and research organizations, standards and ratings, and training and advocacy initiatives.
Standard & Poor's on Corporate Governance
www.standardandpoors.com/
On this page, Standard & Poor's addresses the topics of corporate governance and financial reporting, with many beneficial articles framing the global governance challenge.
New York Stock Exchange: Governance Policies
www.nyse.com/
Rules on good corporate conduct and transparency.
Corporate Governance Redefined: The Sarbanes-Oxley Act of 2002 and Related Rulemaking
library.findlaw.com/
An article by Mary Ann Frantz explaining the purpose and ramifications of the law and its influence on corporate governance policies.
TIAA-CREF: Policy Statement on Corporate Governance
www.tiaa-cref.org/
Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) is a long-term investor in the U.S. and international equity markets. This is their internal policy statement on corporate governance governing their equity investment strategy.
World Bank: Governance Research Indicator Country Snapshot (GRICS): 1996-2002
www.worldbank.org/
Graphical tools designed to provide a "snapshot" of governance performance for individual countries or groups of countries.
AccountAbility:
The AA1000 Assurance Standard
www.accountability.org.uk
For information on emerging definitions of materiality, see this stakeholder engagement-based assurance standard produced by the Institute of Social and Ethical AccountAbility. "Materiality is centrally about information that is relevant to stakeholders in forming their understanding of the organization to make practical judgments that support well-reasoned decisions and actions." — George Dallas, S&P
Carbon Disclosure Project
www.cdproject.net/
The largest registry of corporate greenhouse gas emissions in the world. Responses from corporations can be downloaded without charge. The CDP provides a secretariat for the world's largest institutional investor collaboration on the business implications of climate change.
Stanford Law School: Securities Class Action Clearinghouse
securities.stanford.edu/
The Securities Class Action Clearinghouse provides detailed information relating to the prosecution, defense, and settlement of federal class action securities fraud litigation.
Cliffe Dekker:
King Report on Corporate Governance for South Africa 2002
www.cliffedekker.co.za/
The 1994 King Report on Corporate Governance (King I) was the first of its kind in South Africa and was aimed at promoting the highest standards of corporate governance. In 2002, a new report (King II) acknowledged a move away from the single bottom line (that is, profit for shareholders) to a triple bottom line, which embraces the economic, environmental and social aspects of a company's activities.
Some International Currencies
ROLL OVER a banknote to see reverse side.
CLICK for a magnified view of the currency.
Ringgit (Malaysia)
Rupee (India)
Dollar (Australia)
