Balancing ecology and finance: The impact of carbon performance on dividend payout policy

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-02-01 DOI:10.1016/j.ribaf.2024.102710

Ramzi Benkraiem , Olfa Berrich , Nadia Lakhal , Hamza Nizar , Faten Lakhal

引用次数: 0

Abstract

This paper investigates the effect of corporate carbon performance on the dividend payout policy. Based on an international sample from 2010 to 2022, the results show that firms that emit less carbon pay more dividends to their shareholders suggesting that managers are likely to balance all stakeholders’ needs. However, companies distribute less dividends following the Paris Agreement in 2015. This result suggests that the increased pressure on companies to engage in sustainability initiatives can reduce the amount of profit available for dividends. Furthermore, the positive effect of carbon performance on dividend payout policy is accentuated for companies with strong profitability and high corporate governance quality. Nevertheless, this positive effect is less prevalent in companies under highly competitive pressure.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance