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Waste disclosure and corporate cash holdings

Author

Listed:
  • Samuel Jebaraj Benjamin
  • Dereje Getachew Regasa
  • Nirosha Hewa Wellalage
  • M Srikamalaladevi M Marathamuthu

Abstract

In this paper, we address an important and emerging question: Can firms’ voluntary waste disclosure affect corporate cash holdings? Using a sample of S&P 500 firms, we find strong evidence for a positive relationship between waste disclosure and the cash holding policy of firms. Furthermore, we find that waste disclosure significantly increases cash holdings only for firms with strong corporate governance quality. We also find that the significant relationship between waste disclosure and cash holdings remains unchanged only for firms that operate in environmentally sensitive industries. Our paper provides novel evidence on the role of voluntary waste disclosure as an environmental dimension that influences the cash policy of firms and highlights the little-known issue of waste disclosure as a significant research topic.

Suggested Citation

  • Samuel Jebaraj Benjamin & Dereje Getachew Regasa & Nirosha Hewa Wellalage & M Srikamalaladevi M Marathamuthu, 2020. "Waste disclosure and corporate cash holdings," Applied Economics, Taylor & Francis Journals, vol. 52(49), pages 5399-5412, October.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:49:p:5399-5412
    DOI: 10.1080/00036846.2020.1764480
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    Citations

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    Cited by:

    1. Safaa Alsmadi & Ahmad Alkhataybeh & Mohammad Ziad Shakhatreh, 2022. "Corporate cash holdings and disclosure violations: an empirical investigation of Jordanian listed companies," Journal of Islamic Accounting and Business Research, Emerald Group Publishing Limited, vol. 13(3), pages 568-580, January.
    2. Gull, Ammar Ali & Ahsan, Tanveer & Qureshi, Muhammad Azeem & Mushtaq, Rizwan, 2023. "Striving to safeguard shareholders or maintain sustainability in periods of high uncertainty: A multi-country evidence," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    3. Yasir Shahab & Ammar Ali Gull & Asad Ali Rind & Aitzaz Ahsan Alias Sarang & Tanveer Ahsan, 2022. "Do corporate governance mechanisms curb the anti-environmental behavior of firms worldwide? An illustration through waste management," Post-Print hal-03602986, HAL.
    4. Samuel Jebaraj Benjamin & Zhuoan Feng & Pallab Kumar Biswas, 2023. "Negative Social Media Sentiments and Capital Structure," Capital Markets Review, Malaysian Finance Association, vol. 31(2), pages 1-22.
    5. Gull, Ammar Ali & Atif, Muhammad & Ahsan, Tanveer & Derouiche, Imen, 2022. "Does waste management affect firm performance? International evidence," Economic Modelling, Elsevier, vol. 114(C).
    6. Alam, Md Samsul & Safiullah, Md & Islam, Md Shahidul, 2022. "Cash-rich firms and carbon emissions," International Review of Financial Analysis, Elsevier, vol. 81(C).
    7. Gull, Ammar Ali & Atif, Muhammad & Hussain, Nazim, 2023. "Board gender composition and waste management: Cross-country evidence," The British Accounting Review, Elsevier, vol. 55(1).
    8. Tania Pinto & Telmo Machado & Diana Nicolau & Nuno Gaspar Oliveira & Ana Sofia Vaz, 2024. "Accounting for nature contributions to people in corporate sustainability: The case of a waste management company in Portugal," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2619-2628, July.
    9. Ammar Ali Gull & Muhammad Atif & Tanveer Ahsan & Imen Derouiche, 2022. "Does waste management affect firm performance? International evidence," Post-Print hal-03866049, HAL.

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