企业参与脱贫攻坚能提升企业价值吗  

Can the Participation in Poverty Alleviation Improve the Corporate Value

作　　者：柏淑嫄 易志高[2] 潘子成 BAI Shuyuan;YI Zhigao;PAN Zicheng(Business School,Nanjing University,Nanjing,210093;Business School,Nanjing Normal University,Nanjing,210046)

机构地区：[1]南京大学商学院 [2]南京师范大学商学院

出　　处：《中国经济问题》2023年第5期68-81,共14页China Economic Studies

基　　金：国家自然科学基金项目(71472091;71372031;71972104)。

摘　　要：我国企业是打赢脱贫攻坚战的中流砥柱,也是助力乡村振兴的中坚力量。本文以2013—2020年中国A股上市公司为研究样本,探究企业参与脱贫攻坚对企业价值的影响。研究发现,企业参与脱贫攻坚是通过政府采购、财政补助、税收优惠、银行贷款、股权融资五种渠道来缓解企业融资约束,进而提升企业价值。此外,本文还分析了五种企业脱贫攻坚参与方式对企业价值的影响。故本文能为企业和相关部门扎实推进脱贫攻坚与乡村振兴战略的有效衔接提供参考。China’s enterprises are the backbone of winning the battle against poverty and promoting the Rural Revitalization scheme.Our research took China’s A-share listed firms from 2013 to 2020 as the sample to study how the firms’participation in Poverty Alleviation scheme can impact the corporate value.The results show that the participation in Poverty Alleviation can boost corporate value by relieving financing constraints in five paths:government procurement,financial subsidies,tax incentives,bank loans,and equity financing.In addition,we also analyze the impact of five methods of corporate participation in poverty alleviation on corporate value.The conclusions can offer firms and relevant government departments a new idea to bridge the connection between the Poverty Alleviation and Rural Revitalization scheme.

关 键 词：脱贫攻坚 融资约束 企业价值 扶贫方式 乡村振兴 

分 类 号：F832.51[经济管理—金融学] F275F323.8