Corporate social responsibility and cash holding: evidence from trucking firms

Ann Shawing Yang, Giovanny Cyntia Susanto

研究成果: Article同行評審

摘要

This study analyses the influence of corporate social responsibility (CSR) on the corporate cash management of trucking firms. The fixed-effects model of the panel data analysis is applied from 2007 to 2017. Capital expenditures, dividend payments, and retained earnings negatively influence cash holdings, whereas cash flow, market-to-book ratio, net working capital, and share repurchase for all CSR categories positively influence cash holdings. However, the changes in market leverage, dividends, book-to-market ratio, and firm size negatively and significantly influence excess stock returns. In summary, social and environmental participations positively influence cash holdings and excess stock returns, respectively.

原文English
頁(從 - 到)85-89
頁數5
期刊Applied Economics Letters
28
發行號1
DOIs
出版狀態Published - 2021

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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