董事网络作用下的企业精准扶贫同群效应研究  

Research on the Peer Effect of Targeted Poverty Alleviation by Enterprises under the Role of Board Network

作　　者：谢帮生[1] 尹婷 汪金祥 刘党文 XIE Bang-sheng;YIN Ting;WANG Jin-xiang;LIU Dang-wen(College of Economics and Management,Fujian Agriculture and Forestry University,Fuzhou 350002,Fujian,China)

机构地区：[1]福建农林大学经济与管理学院,福建福州350002

出　　处：《西部论坛》2022年第5期99-116,共18页West Forum

基　　金：国家社会科学基金一般项目(19BGL087)。

摘　　要：实现巩固拓展脱贫攻坚成果同乡村振兴有效衔接,需要将企业的精准扶贫经验转化为乡村振兴的新动能。企业精准扶贫实践中广泛存在的同群行为具有乘数效应,然而现有文献对企业精准扶贫同群效应的研究局限于地区和行业层面,有待拓展和深化。由同一人在不同企业兼任董事形成的董事网络是我国资本市场的普遍现象,其具有很强的信息传递功能,能够拓宽信息获取渠道、提高信息获取质量,并通过企业间的学习机制产生同群效应,进而导致同群企业的行为具有趋同性。以2016—2020年沪深A股上市公司为样本的经验分析发现:(1)总体上看,董事网络的形成会促进企业的精准扶贫行为,表现为存在董事网络的企业参与精准扶贫概率和扶贫资金投入均明显高于不存在董事网络的企业;(2)董事网络作用下的企业精准扶贫同群效应显著存在,表现为目标企业的精准扶贫行为(参与精准扶贫的概率和扶贫资金的投入)会因同群企业精准扶贫行为的增加而增进,且这种同群效应在不同类型董事网络中、对于不同扶贫方式均显著存在;(3)董事网络主要通过信息传递机制和企业学习机制产生精准扶贫同群效应,表现为目标企业结构洞位置和董事会开会次数的增加会强化同群效应;(4)企业精准扶贫效果也存在一定的同群效应,表现为目标企业帮助脱贫人数与同群企业帮助脱贫人数显著正相关;(5)企业精准扶贫同群效应会对企业发展产生积极的经济后果,表现为同群效应带来的精准扶贫行为增进有利于企业价值提升和政府补助增加。此外,除基于董事网络的同群企业外,同地区、同行业的同群企业也存在显著的精准扶贫行为趋同现象。本文在已有文献的基础上,探讨董事网络作用下的企业精准扶贫同群效应及其形成机制,并进行实证检验,拓展和深化了董事网络的经济效应研究以及To effectively link the consolidation and expansion of poverty alleviation achievements with rural revitalization,it is necessary to turn the experience of targeted poverty alleviation of enterprises into a new driving force for rural revitalization.The peer behavior widely existing in the practice of targeted poverty alleviation by enterprises has a multiplier effect.However,the existing literature on the peer effect of targeted poverty alleviation by enterprises is limited to the regional and industrial levels,which needs to be expanded and deepened.The board network formed by the same person serving as directors in different enterprises is a common phenomenon in China’s capital market.It has a strong information transmission function,which can broaden the information access channels and improve the quality of information acquisition,and generate the peer effect through the learning mechanism among enterprises,which in turn leads to the convergence of the behavior of peer enterprises.Based on the empirical analysis of Shanghai-Shenzhen A-share listed companies from 2016 to 2020,it is found that:(1)on the whole,the formation of a board network can promote the targeted poverty alleviation behavior of enterprises,which shows that the probability of participating in targeted poverty alleviation and the investment of poverty alleviation funds of enterprises with board networks are significantly higher than those without board network;(2)the peer effect of targeted poverty alleviation by enterprises under the role of board network is significant,which is reflected in the targeted poverty alleviation behavior(the probability of participating in targeted poverty alleviation and the investment of poverty alleviation funds)of target enterprises will be enhanced by the increase of targeted poverty alleviation behavior of the same group of enterprises.This peer effect is significant in different types of board networks and for different poverty alleviation methods;(3)the board network produces the peer effect of targeted

关 键 词：董事网络 精准扶贫 同群效应 同群企业 同群行为 结构洞 乡村振兴 

分 类 号：F273.7[经济管理—企业管理] F320.3[经济管理—国民经济]