Waste disclosure and corporate cash holdings

Samuel Jebaraj Benjamin, Dereje Regasa, Nirosha Wellalage () and M Srikamalaladevi M Marathamuthu

Applied Economics, 2020, vol. 52, issue 49, 5399-5412

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.

Date: 2020
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DOI: 10.1080/00036846.2020.1764480

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