Flooding and firm financing policy.

This table reports the regression results of the effects of flooding on firm financing policy. Dependent variables are book leverage (Book leverage) in column 1, market leverage (Market leverage) in column 2, debt maturity (Debt Maturity) in column 3, and cash holding levels (Cash holding) in column 4, respectively. Variable definitions are in Table A1 in the S1 Appendix. Robust standard errors are clustered at the city-year level and reported in parentheses. *, ** and *** indicate the significance levels at 10%, 5% and 1%, respectively.