Biodiversity risk and seasoned equity offerings

Xiaohui Liu, Yulin Li and Chandrasekhar Krishnamurti

Economics Letters, 2025, vol. 247, issue C

Abstract: This study explores the relationship between a firm's exposure to biodiversity risk and its decision to undertake seasoned equity offerings (SEOs). Our results show that firms facing significant biodiversity risks are more likely to engage in SEOs, especially those with greater external financial needs. Additionally, firms with stronger managerial capabilities are better equipped to manage biodiversity risks by obtaining additional funding through SEOs. Our research adds to the corporate finance literature by emphasizing the influence of biodiversity risk on a firm's external financing decisions.

Keywords: biodiversity risk; seasoned equity offerings; external capital (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:247:y:2025:i:c:s0165176525000515

DOI: 10.1016/j.econlet.2025.112214

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