IMPLICATIONS OF THE ENVIRONMENTAL FACTORS ON THE ECONOMIC EFFICIENCY OF CAPITAL INVESTMENTS.A ROMANIAN PERSPECTIVE IN TERMS OF A SUSTAINABLE ECONOMY

摘要

Making capital investment in general, but especially those in physical productive assets, is hardly conceivable without taking into account the implications of the environmental factors. In other words, achieving a cement plant, meat products, fertilisers can take place only after a thorough analysis of the environmental consequences of that investment. On this plan is also noted that such an investment in the current circumstances will never be achieved without obtaining the requested environmental permits. In such a context often obtaining such permits is subject to achieving specific investments regarding environmental protection, which aim is to protect water, air, or life in general. So, in addition to the expenses incurred with the actual investment, these kind of costs related to environmental protection appear, without which the permits mentioned before, and therefore the investment in question could not be achieved. This study, therefore, seeks to highlight in the limited space of this article, the implications of these investment costs related to environment on the economic efficiency of the respective capital investment as a whole.