Does air pollution affect dividend policy

Zhenyu Hu and Jui-Chin Chang

Finance Research Letters, 2022, vol. 49, issue C

Abstract: 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.

Keywords: Dividend policy; Air pollution; Air quality index (AQI) (search for similar items in EconPapers)
JEL-codes: G35 Q51 Q52 Q53 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:49:y:2022:i:c:s154461232200383x

DOI: 10.1016/j.frl.2022.103183

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