Does air pollution affect dividend policy

被引：10

作者：

Hu, Zhenyu ^{[1
]}

Chang, Jui-Chin ^{[2
]}

机构：

[1] Bryant Univ, Beijing Inst Technol Zhuhai, BITZH Program, 6 Jinfeng Rd, Zhuhai, Guangdong, Peoples R China

[2] Texas A&M Int Univ, AR Sanchez Jr Coll Business, Div Int Banking & Financial Studies, 5201 Univ Blvd, Laredo, TX 78041 USA

来源：

FINANCE RESEARCH LETTERS | 2022年 / 49卷

关键词：

Dividend policy; Air pollution; Air quality index (AQI); OWNERSHIP; PERFORMANCE; INFORMATION; CONFLICTS; EARNINGS; PAYOUT; RISK;

D O I：

10.1016/j.frl.2022.103183

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate the influence of air pollution in a firm's dividend policy in China. We find that firms pay lower amount of cash dividends if the firms are located at a severe air pollution city. Our analyses further show that the effect is stronger in the state-owned firms, key monitoring firms, and International Organization for Standardization (ISO) 14001 non-certified firms.

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页数：6

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