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Do paid maternity leave mandates affect corporate cash holdings?

Author

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  • Gao, Shangyi
  • Cheong, Chee Seng
  • Zurbruegg, Ralf

Abstract

This study examines whether paid maternity leave laws affect corporate cash holdings. Using a difference-in-differences approach, we find the staggered introduction of these laws significantly reduce firm cash reserves, especially in labor-intensive industries. Further analysis indicates that increased employee productivity post-adoption associates with declining cash holdings, representing a channel linking these laws to precautionary savings motives.

Suggested Citation

  • Gao, Shangyi & Cheong, Chee Seng & Zurbruegg, Ralf, 2024. "Do paid maternity leave mandates affect corporate cash holdings?," Economics Letters, Elsevier, vol. 236(C).
    • Handle: RePEc:eee:ecolet:v:236:y:2024:i:c:s0165176524001010
    DOI: 10.1016/j.econlet.2024.111618
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