Climate risk and deployment of corporate resources to working capital

Muhammad Farooq Ahmad; Nihat Aktas; Ettore Croci

doi:10.1016/j.econlet.2023.111002

Climate risk and deployment of corporate resources to working capital

Muhammad Farooq Ahmad, Nihat Aktas^*, Ettore Croci

^*Autore corrispondente per questo lavoro

Risultato della ricerca: Contributo in rivista › Articolo › peer review

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.

Lingua originale	Inglese
pagine (da-a)	N/A-N/A
Rivista	Economics Letters
Volume	224
DOI	https://doi.org/10.1016/j.econlet.2023.111002
Stato di pubblicazione	Pubblicato - 2023

Keywords

Carbon intensity
Climate risk
Financial difficulty
Working capital

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Accesso al documento

10.1016/j.econlet.2023.111002

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title = "Climate risk and deployment of corporate resources to working capital",

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.",

keywords = "Carbon intensity, Climate risk, Financial difficulty, Working capital, Carbon intensity, Climate risk, Financial difficulty, Working capital",

author = "Ahmad, \{Muhammad Farooq\} and Nihat Aktas and Ettore Croci",

year = "2023",

doi = "10.1016/j.econlet.2023.111002",

language = "English",

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journal = "Economics Letters",

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T1 - Climate risk and deployment of corporate resources to working capital

AU - Ahmad, Muhammad Farooq

AU - Aktas, Nihat

AU - Croci, Ettore

PY - 2023

Y1 - 2023

N2 - 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.

AB - 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.

KW - Carbon intensity

KW - Climate risk

KW - Financial difficulty

KW - Working capital

KW - Carbon intensity

KW - Climate risk

KW - Financial difficulty

KW - Working capital

UR - http://hdl.handle.net/10807/230086

UR - https://doi.org/10.1016/j.econlet.2023.111002

U2 - 10.1016/j.econlet.2023.111002

DO - 10.1016/j.econlet.2023.111002

M3 - Article

SN - 0165-1765

VL - 224

SP - N/A-N/A

JO - Economics Letters

JF - Economics Letters

ER -

Climate risk and deployment of corporate resources to working capital

Abstract

Keywords

OSS delle Nazioni Unite

Accesso al documento

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