Environmental, social, and governance disclosure impact on cash holdings in OECD countries

In this research, we investigate how cash holdings are affected by the environmental, social, and governance (ESG) disclosure practices of corporations. This research provides valuable insights into ongoing discussion all across world on ESG disclosure, mainly 5 countries from Organisation for Economic Co-operation Development (OECD), which United States America, Canada, Kingdom, Japan, Australia, over period 2012–2021. We used Refinitiv Eikon database to measure variables. The results show there is a significantly negative relation between in introduction, growth, shake-out/decline stages. Lower associated with higher firm performance positive value cash. spite using different econometric parameters, other measurements, extra control variables, propensity score matching, an instrumental variable approach, our remained unchanged (Arayssi et al., 2020). paper has recommendations policymakers, investors, business organizations. Importantly, study reveals levels lead better cash-holding (Buallay, 2022).