Using a large sample of US listed firms, we find that exposure to climate risk is negatively associated with working capital. This effect is accentuated in carbon-intensive industries and firms facing financial difficulties. These findings suggest that climate risk pressures firms to release unnecessary resources allocated to working capital, a result consistent with the disciplinary channel. (c) 2023 Elsevier B.V. All rights reserved.

Ahmad, M. F., Aktas, N., Croci, E., Climate risk and deployment of corporate resources to working capital, <<ECONOMICS LETTERS>>, 2023; 224 (March): N/A-N/A. [doi:10.1016/j.econlet.2023.111002] [https://hdl.handle.net/10807/230086]

Climate risk and deployment of corporate resources to working capital

Croci, Ettore
2023

Abstract

Using a large sample of US listed firms, we find that exposure to climate risk is negatively associated with working capital. This effect is accentuated in carbon-intensive industries and firms facing financial difficulties. These findings suggest that climate risk pressures firms to release unnecessary resources allocated to working capital, a result consistent with the disciplinary channel. (c) 2023 Elsevier B.V. All rights reserved.
2023
Inglese
Ahmad, M. F., Aktas, N., Croci, E., Climate risk and deployment of corporate resources to working capital, <<ECONOMICS LETTERS>>, 2023; 224 (March): N/A-N/A. [doi:10.1016/j.econlet.2023.111002] [https://hdl.handle.net/10807/230086]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/230086
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