Cash-rich Firms and Carbon Emissions

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dc.cclicenceCC-BY-NCen
dc.contributor.authorAlam, Md Samsul
dc.date.acceptance2022-03-04
dc.date.accessioned2022-03-09T10:34:32Z
dc.date.available2022-03-09T10:34:32Z
dc.date.issued2022-03-09
dc.descriptionThe file attached to this record is the author's final peer reviewed version. open access articleen
dc.description.abstractWe investigate whether corporate cash holdings affect carbon dioxide emissions. Using a sample of 5,402 firm-years observations from 943 U.S firms during 2007–2017, we find that carbon emissions are lower in firms with higher corporate cash holdings. The effect of cash holdings on carbon emissions is more pronounced in firms with low leverage and less financial constraints. Our channel analysis further unveils that renewable energy consumption and carbon abatement investment are higher in cash-rich firms, which transmit lower carbon emissions. Our findings are robust to different identification strategies and alternative measures of cash holdings and carbon emissions. Overall, our paper provides novel evidence on the role of corporate cash holdings in mitigating carbon emissions.en
dc.funderNo external funderen
dc.identifier.citationAlam, M.S. et al. (2022) Cash Rich Firms and Carbon Emissions. International Review of Financial Analysis, 81, 102106en
dc.identifier.doihttps://doi.org/10.1016/j.irfa.2022.102106
dc.identifier.issn1057-5219
dc.identifier.urihttps://hdl.handle.net/2086/21736
dc.language.isoenen
dc.publisherElsevieren
dc.researchinstituteInstitute for Applied Economics and Social Value (IAESV)en
dc.subjectCash holdingsen
dc.subjectCarbon emissionsen
dc.subjectRenewable energy consumptionen
dc.subjectCarbon abatement investment.en
dc.titleCash-rich Firms and Carbon Emissionsen
dc.typeArticleen

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