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Corporate Social Responsibility Disclosure and the Value of Cash Holdings

Lu, Louise Yi; Shailer, Greg; Yu, Yangxin


This study investigates whether corporate social responsibility (CSR) reports mitigate the value destruction associated with increases in cash holdings. We find that the issuance of a standalone CSR report increases the marginal value of cash holdings and this effect is more pronounced for firms in a less transparent information environment and for firms with weaker external monitoring. Our results suggest that information in CSR reports can facilitate monitoring and thus induce more efficient...[Show more]

CollectionsANU Research Publications
Date published: 2016-06-21
Type: Journal article
Source: European Accounting Review
DOI: 10.1080/09638180.2016.1187074


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