期刊論文
| 學年 | 112 |
|---|---|
| 學期 | 1 |
| 出版（發表）日期 | 2024-01-17 |
| 作品名稱 | The impact of firm risk on the value of cash holdings: The moderating role of corporate social responsibility |
| 作品名稱（其他語言） | |
| 著者 | Ruey-Jenn Ho; Cho-Min Lin ; Chien-Ming Huang ; Chun-Wei Lin |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | Pacific-Basin Finance Journal 83, 102270 |
| 摘要 | This study investigates the impact of firm risk on the value of cash holdings, and how corporate social responsibility (CSR) affects this relationship considering controlling shareholders. Using a sample of Taiwanese publicly listed firms from 2005 to 2018, we find that firms' CSR activities are more positively associated with the value of cash holdings because of controlling shareholders' incentive effects in most cases. Moreover, the precautionary view suggests that high-risk firms positively influence the value of cash holdings. Interestingly, considering controlling shareholders weakens the moderating impact of CSR engagement on the relationship between firm risk and value of cash holdings. Thus, CSR is an important determinant of corporate cash policies among Taiwanese firms. Our empirical results provide managers, investors, and policymakers with important decision-making insights. |
| 關鍵字 | Corporate social responsibility;Cash value;Controlling shareholder |
| 語言 | en |
| ISSN | 1879-0585 |
| 期刊性質 | 國內 |
| 收錄於 | SCI SSCI EconLit Scopus ABS* |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 是 |
| 國別 | BES |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/124993 ) |