LAUSR.org creates dashboard-style pages of related content for over 1.5 million academic articles. Sign Up to like articles & get recommendations!

The impact of air pollution on corporate cash holdings

Photo from wikipedia

Abstract Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2017 and the air quality monitoring data released by the China National Environmental Monitoring… Click to show full abstract

Abstract Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2017 and the air quality monitoring data released by the China National Environmental Monitoring Centre, this paper conducts an empirical test on the relationship between air pollution and corporate cash holdings. The empirical research found that: first, air pollution increases the level of enterprise cash holdings. Second, there are some differences between heavily polluting and non-heavy polluting enterprises. The impact of air pollution is more significant in non-heavily polluting enterprises. Furthermore, the results show that the relationship between air pollution and cash holdings is significant regardless of the level of regional financial development. However, the influence of air pollution on cash holdings has a significant positive influence on nonstate-owned enterprises, while state-owned enterprises do not have such a significant impact. The research conclusions are conducive to revealing the relationship between the natural environment and micro-financial activities.

Keywords: air pollution; cash holdings; air; pollution corporate

Journal Title: Borsa Istanbul Review
Year Published: 2021

Link to full text (if available)


Share on Social Media:                               Sign Up to like & get
recommendations!

Related content

More Information              News              Social Media              Video              Recommended



                Click one of the above tabs to view related content.