Ahmad, M.F. and Karpuz, A. orcid.org/0000-0003-2746-6428 (2024) Beyond climate change risk: Biodiversity and corporate cash holdings. Economics Letters, 236. 111608. ISSN 0165-1765
Abstract
We document that firms’ exposure to biodiversity risk is positively associated with corporate cash holdings. The positive effect is distinct from the influence of firm's exposure to climate change risk. Further, our findings are more pronounced for firms in industries highly exposed to biodiversity risks, facing large financial constraints or exposed to high competition. Overall, the results support the precautionary motives of corporate cash holdings.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2024 Elsevier B.V. This is an author produced version of an article published in Economics Letters. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Biodiversity, Climate risk, Corporate cash holdings |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 27 Feb 2024 11:13 |
Last Modified: | 27 Feb 2024 11:13 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.econlet.2024.111608 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:209656 |
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