In consideration of the development

In consideration of the development of the
technology industry and the issue of global warming
caused by the environmental pollution and deterioration,
“Corporate Social Responsibility (CSR)” has become the
subject of attention. That is, the management should
consider not only corporate financial performance but also
the problem of the environmental economics caused by
the environmental pollution. This paper explores how
enterprises evaluate the relationship between the
additional cost for protecting the environment and the
intangible firm value generated from investing in CSR in
order to obtain the maximum firm value under the
consideration of environmental economics. This paper
introduces the real options model to find the optimal time
point for investing in CSR.
This paper assumes