Environmental, social, and governance disclosure impact on cash holdings in OECD countries
<p dir="ltr">In this research, we investigate how cash holdings are affected by the environmental, social, and governance (ESG) disclosure practices of corporations. This research provides valuable insights into the ongoing discussion all across the world on ESG disclosure, and mainl...
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2023
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| _version_ | 1864513530459324416 |
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| author | Aws AlHares (17541741) |
| author2 | Noora AlEmadi (17541813) Tarek Abu-Asi (17541747) Ruba Al Abed (17541816) |
| author2_role | author author author |
| author_facet | Aws AlHares (17541741) Noora AlEmadi (17541813) Tarek Abu-Asi (17541747) Ruba Al Abed (17541816) |
| author_role | author |
| dc.creator.none.fl_str_mv | Aws AlHares (17541741) Noora AlEmadi (17541813) Tarek Abu-Asi (17541747) Ruba Al Abed (17541816) |
| dc.date.none.fl_str_mv | 2023-05-02T03:00:00Z |
| dc.identifier.none.fl_str_mv | 10.22495/jgrv12i2art10 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Environmental_social_and_governance_disclosure_impact_on_cash_holdings_in_OECD_countries/24717405 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Commerce, management, tourism and services Banking, finance and investment Business systems in context Strategy, management and organisational behaviour Economics Econometrics ESG Cash Holdings OECD Liquidity Sustainability Financial Constraint |
| dc.title.none.fl_str_mv | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">In this research, we investigate how cash holdings are affected by the environmental, social, and governance (ESG) disclosure practices of corporations. This research provides valuable insights into the ongoing discussion all across the world on ESG disclosure, and mainly 5 countries from the Organisation for Economic Co-operation and Development (OECD), which are the United States of America, Canada, the United Kingdom, Japan, and Australia, over the period 2012–2021. We used Refinitiv Eikon database to measure the variables. The results show there is a significantly negative relation between ESG disclosure and cash holdings in the introduction, growth, and shake-out/decline stages. Lower cash holdings are associated with higher firm performance and a positive value of cash. In spite of using different econometric parameters, other measurements, extra control variables, propensity score matching, and an instrumental variable approach, our results remained unchanged (Arayssi et al., 2020). This paper has recommendations for policymakers, investors, and business organizations. Importantly, our study reveals how higher levels of ESG disclosure lead to better cash-holding practices (Buallay, 2022).</p><h2>Other Information</h2><p dir="ltr">Published in: Journal of Governance and Regulation<br>License: <a href="https://creativecommons.org/licenses/by/4.0" target="_blank">https://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.22495/jgrv12i2art10" target="_blank">https://dx.doi.org/10.22495/jgrv12i2art10</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_29b794766929d454f30072baa48ef9f9 |
| identifier_str_mv | 10.22495/jgrv12i2art10 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/24717405 |
| publishDate | 2023 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Environmental, social, and governance disclosure impact on cash holdings in OECD countriesAws AlHares (17541741)Noora AlEmadi (17541813)Tarek Abu-Asi (17541747)Ruba Al Abed (17541816)Commerce, management, tourism and servicesBanking, finance and investmentBusiness systems in contextStrategy, management and organisational behaviourEconomicsEconometricsESGCash HoldingsOECDLiquiditySustainabilityFinancial Constraint<p dir="ltr">In this research, we investigate how cash holdings are affected by the environmental, social, and governance (ESG) disclosure practices of corporations. This research provides valuable insights into the ongoing discussion all across the world on ESG disclosure, and mainly 5 countries from the Organisation for Economic Co-operation and Development (OECD), which are the United States of America, Canada, the United Kingdom, Japan, and Australia, over the period 2012–2021. We used Refinitiv Eikon database to measure the variables. The results show there is a significantly negative relation between ESG disclosure and cash holdings in the introduction, growth, and shake-out/decline stages. Lower cash holdings are associated with higher firm performance and a positive value of cash. In spite of using different econometric parameters, other measurements, extra control variables, propensity score matching, and an instrumental variable approach, our results remained unchanged (Arayssi et al., 2020). This paper has recommendations for policymakers, investors, and business organizations. Importantly, our study reveals how higher levels of ESG disclosure lead to better cash-holding practices (Buallay, 2022).</p><h2>Other Information</h2><p dir="ltr">Published in: Journal of Governance and Regulation<br>License: <a href="https://creativecommons.org/licenses/by/4.0" target="_blank">https://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.22495/jgrv12i2art10" target="_blank">https://dx.doi.org/10.22495/jgrv12i2art10</a></p>2023-05-02T03:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.22495/jgrv12i2art10https://figshare.com/articles/journal_contribution/Environmental_social_and_governance_disclosure_impact_on_cash_holdings_in_OECD_countries/24717405CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/247174052023-05-02T03:00:00Z |
| spellingShingle | Environmental, social, and governance disclosure impact on cash holdings in OECD countries Aws AlHares (17541741) Commerce, management, tourism and services Banking, finance and investment Business systems in context Strategy, management and organisational behaviour Economics Econometrics ESG Cash Holdings OECD Liquidity Sustainability Financial Constraint |
| status_str | publishedVersion |
| title | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| title_full | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| title_fullStr | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| title_full_unstemmed | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| title_short | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| title_sort | Environmental, social, and governance disclosure impact on cash holdings in OECD countries |
| topic | Commerce, management, tourism and services Banking, finance and investment Business systems in context Strategy, management and organisational behaviour Economics Econometrics ESG Cash Holdings OECD Liquidity Sustainability Financial Constraint |