arbiter
JournalsAccount

Firm-level Climate Change Exposure and Corporate Cash Holdings: Evidence from Asian Countries

Huong Le et al.

Journal of Emerging Market Finance2025https://doi.org/10.1177/09726527241312977article
AJG 2ABDC B
Weight
0.41

Abstract

This study investigates the correlation between climate change exposure and corporate cash holdings. Using climate change data exposed at the firm level of 804 unique firms between 2002 and 2022 in six Asian countries (Japan, Korea, China, Singapore, India, and Hong Kong), this study provides empirical evidence that firms reserve more cash in response to their exposure to climate change. Additionally, we discover that firms with greater financial restrictions have a stronger positive link between cash hoarding and climate change risk. The evidence offered holds up well against different climate change dimensions and the sample before the COVID-19 pandemic. JEL Code: G32

2 citations

Open via your library →

Cite this paper

https://doi.org/https://doi.org/10.1177/09726527241312977

Or copy a formatted citation

@article{huong2025,
  title        = {{Firm-level Climate Change Exposure and Corporate Cash Holdings: Evidence from Asian Countries}},
  author       = {Huong Le et al.},
  journal      = {Journal of Emerging Market Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/09726527241312977},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

Firm-level Climate Change Exposure and Corporate Cash Holdings: Evidence from Asian Countries

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.41

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.