Evaluation of investments in waste recycling - challenges for sustainable development management in the Republic of Serbia

[М. S. Krstić]

[22], 250 listova

Biografija autora: list 247; Bibliografija: 237-246.

Financial strategy of corporate enterprises

Besides the all positive effects on economic growth the modern business environment also has some disadvantages, reflected in generating different kinds of waste in large quanti ties The issue of waste has become more apparent i n the period of transition from the traditional economic into the so called consumer society It is characterized by the c onsumption of a plethora of di fferent products , which, in combination with the decreasing lifespan of products, results in an enormous pressure and negative impact on the environment , bringing sustainabl e development into jeopardy . In th ese circumstances , the development of the recycli ng industry presents itself as a possible solution to the problem of waste generation and management, while creating the basic preconditions for sustainable development. The empirical research is based on the case study of the companies that are dealing wi th recycling of cars and electrical and electronic equipment, and the cost benefit analysis is used for the evaluation of both the financial and non financial, i.e. socioeconomic benefits. The f inancial anal ysis has confirmed the justification of investmen t s in both projects, not only car recycling but also the electronic and electrical equipment recycling. From the investors’ perspective , car recycling is a more acceptable project , since it generates more profit, and it is less depend e nt on government ince ntives. The i ncentive oriented policy in the area of e waste recycling is requiredrequired since thesince the research has shown that theresearch has shown that the continuity of continuity of this process isthis process is directlydirectly dependdependentent onon governmentgovernment support. support. The The significant amount of socioeconomic benefitssignificant amount of socioeconomic benefits,, created by created by ththee electronic electronic and electrical equipment recycling projectand electrical equipment recycling project, makes it acceptable, makes it acceptable from the from the social perspective, social perspective, creating a longcreating a long--term contribution term contribution to sustainable to sustainable developmentdevelopment. The sensitivity analysis results indicate the variation in stock prices of secondary rawprices of secondary raw materials, which are the product of the materials, which are the product of the recycling process, and disparity of incentive policies towards this recycling process, and disparity of incentive policies towards this process in the Republic of Serbia represent factors which are the most process in the Republic of Serbia represent factors which are the most influential on the investment analysis criteria of recycling projects. This influential on the investment analysis criteria of recycling projects. This dissertation contributes to a better understanding of the current dissertation contributes to a better understanding of the current conditions in the recycling industry in the Republic of Serbia, and conditions in the recycling industry in the Republic of Serbia, and demonstrates the direction of future development as well as the most demonstrates the direction of future development as well as the most important challenges which stand in the way of reachiimportant challenges which stand in the way of reaching the goal of ng the goal of sustainable development.sustainable development.

Društveno odgovorno investiranje, reciklaža, održivi razvoj, društveno ekonomske koristi, analiza troškova i koristi, analiza osetljivosti

Socially responsible investing, recycling, sustainable development, socio economic ben efits, cost benefit analysis, sensitivity analysis

657.424:502.174.1]:502.131.1(043.3)

S 181

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