IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v76y2025ics0275531925000480.html
   My bibliography  Save this article

Dividend payouts and biodiversity risk — Chinese evidence

Author

Listed:
  • Zhou, Yang
  • Lucey, Brian M.
  • He, Feng

Abstract

Across 25979 firm years, from 2007 to 2022, we investigate how Chinese firms exposed to biodiversity risk adjust corporate dividend payouts. The results show that biodiversity risk exposure significantly lowers the level of corporate dividend payouts, mainly through two channels — aggravating financing difficulties and promoting resource reallocation. Further, the negative impact of biodiversity risk on corporate dividend payouts is more prominent in firms with weaker political connections, stronger external supervision, and poorer internal governance. Our findings are consistent across several robustness checks. Overall, our work sheds light on the influence of the emerging challenge of biodiversity risk on corporate dividend payouts.

Suggested Citation

  • Zhou, Yang & Lucey, Brian M. & He, Feng, 2025. "Dividend payouts and biodiversity risk — Chinese evidence," Research in International Business and Finance, Elsevier, vol. 76(C).
    • Handle: RePEc:eee:riibaf:v:76:y:2025:i:c:s0275531925000480
    DOI: 10.1016/j.ribaf.2025.102792
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531925000480
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ribaf.2025.102792?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Biodiversity risk; Dividend payouts; China; Financing difficulties; Resource reallocation;
    All these keywords.

    JEL classification:

    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:76:y:2025:i:c:s0275531925000480. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.