Abstract
We investigate the influence of air pollution on a firm’s dividend policy. Using the data from China, we find that firms pay fewer cash dividends if they are located at a severe air pollution city. Furthermore, our analyses show that the effect is stronger for the state-owned firms, key monitoring firms, and ISO 14001 non-certified firms.
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
2022 Special Focus - Responding to Climate Change as Emergency: Governing the Climate Emergency
KEYWORDS
Air pollution, Dividend policy
Digital Media
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