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September 5, 2025Accounting and Finance

Unintentional Man‐Made Disasters and Corporate Cash Holdings

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Authors

YXYize XuRXRong XuYLYanyin Li

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Overview

Observational analysis shows that unintentional man-made disasters increase cash reserves, highlighting geographic proximity and financing constraints.

Key Points

  • Unintentional man-made disasters increase corporate cash holdings, particularly in closer geographical proximity.
  • Private firms and those with greater financing constraints exhibit more significant changes in cash policies after disasters.
  • The main influence on cash holdings comes from managerial perception of uncertainty, not direct business risks.
  • Disasters affecting CEOs' hometowns also significantly alter managerial sentiment and decision-making.

Cite This Study

Xu et al. (2025) studied this question.

synapsesocial.com/papers/68bb49d26d6d5674bcd00047https://doi.org/10.1111/acfi.70090
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Also Consider

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  4. 4The impact of natural disasters on corporate performance: large sample evidence from China2026
  5. 5Climate Risk in Supply Chains and Corporate Cash Holdings: Mechanisms and Mitigation Strategies2025