IDEAS home Printed from https://ideas.repec.org/h/spr/csrchp/978-3-030-72773-4_9.html
   My bibliography  Save this book chapter

Corporate Environmental Responsibility, Cash Holding and Dividend Policy Decisions

In: Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU

Author

Listed:
  • Panagiotis Dimitropoulos

    (University of Peloponnese
    Hellenic Open University)

  • Konstantinos Koronios

    (University of Peloponnese)

Abstract

The scope of this chapter is to examine the impact of CER related performance on firm dividend and cash holding decisions, by taking into consideration potential endogeneity between the examined factors, evidenced by previous literature on that issue. Empirical analysis suggested that CER performance is positively and significantly impacting on cash holdings, supporting evidence provided on the literature that CER performance lead firms to hold more cash, suggesting that managers of high CER performing firms focus more on maximizing stakeholder value leading to enhanced cash holdings to achieve such goals. Furthermore, we found firms with higher emission and resource use scores are significantly associated with higher cash holdings. Additionally, all environmental performance scores (except for the emission score) proved to have a positive and significant impact on dividends payments. Practically, 1 percentage point increase in CER performance score is associated with 0.2 per cent of dividend to asset ratio, ceteris paribus.

Suggested Citation

  • Panagiotis Dimitropoulos & Konstantinos Koronios, 2021. "Corporate Environmental Responsibility, Cash Holding and Dividend Policy Decisions," CSR, Sustainability, Ethics & Governance, in: Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU, chapter 0, pages 177-196, Springer.
  • Handle: RePEc:spr:csrchp:978-3-030-72773-4_9
    DOI: 10.1007/978-3-030-72773-4_9
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:csrchp:978-3-030-72773-4_9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.