混合所有制改革与民营企业精准扶贫——基于资源互补和监督制衡的视角  

Mixed‑Ownership Reform and Targeted Poverty Alleviation of Private Enterprises:From the Perspective of Resources Complementarity and Checks and Balances

作　　者：姜富伟 丁慧 张芷宁 何冬昕 JIANG Fu-wei;DING Hui;ZHANG Zhi-ning;HE Dong-xin(School of Finance,Central University of Finance and Economics,Beijing,102206,China)

机构地区：[1]中央财经大学金融学院,北京102206

出　　处：《经济管理》2024年第2期91-109,共19页Business and Management Journal ( BMJ )

基　　金：国家社会科学基金重大项目“三重压力下双支柱调控的政策效应评估与优化研究”(22&ZD063);国家自然科学基金面上项目“财务基本面信息与金融风险预测:机器学习与经济理论”(72072193);国家自然科学基金面上项目“投资Q理论、投资者情绪与资本市场资产定价:大数据的视角”(71872195)。

摘　　要：精准扶贫是打赢脱贫攻坚战的制胜法宝,为实现共同富裕积累了宝贵的经验。通过混合所有制改革,企业经济效益显著提升,促进实现“做大蛋糕”,但进一步能否推动企业参与精准扶贫来“分好蛋糕”仍有待检验。鉴于此,本文以2016—2021年我国A股民营企业为研究样本,探究混合所有制改革对精准扶贫投入水平、机制和方式的影响。研究发现,国有资本参股比例越高,民营企业的精准扶贫投入水平越高,表明混合所有制改革有助于推动民营企业承担促进共同富裕的社会责任。机制检验发现,国有资本参股主要通过资源互补效应缓解企业融资约束,从而促进民营企业参与精准扶贫。相比之下,通过缓解代理问题来促进企业扶贫的监督制衡效应尚未发挥显著作用。从扶贫模式来看,国有资本参股促进民营企业采用输血和造血相结合的方式,通过产业发展、教育资源投入、生态保护投入等方式推动精准扶贫落户;从扶贫地区来看,国有资本参股对于经济发展落后、失业率高以及中西部地区实现脱贫具有更显著的作用。本文为深化混合所有制改革和扎实推动共同富裕提供新的经验证据。Poverty alleviation is a significant initiative aimed at promoting shared prosperity among all people,with targeted poverty alleviation serving as the decisive weapon in winning the battle against poverty.In 2020,China achieved a comprehensive victory in its poverty alleviation campaign,completing the crucial task of eradicating absolute poverty.However,relative poverty is expected to persist long-term,necessitating continued efforts in poverty governance.Facing new tasks in the next stage,micro-enterprises should play an increasingly important role and exert more powerful influence.As emphasized by General Secretary Xi Jinping,both state-owned enterprises and private enterprises are important forces for promoting common prosperity and must shoulder the social responsibility of advancing common prosperity.Unlike state-owned enterprises,which are the cornerstone of our national economy,bearing economic,political,and social responsibilities,the motivation and capacity of private enterprises in poverty alleviation governance are still waiting to be unleashed.Mixed-ownership reform,through cross-shareholding of different ownership capitals and their integration,facilitates various ownership capitals to complement each other’s strengths,promote each other,and develop together.Therefore,can reverse mixed ownership reform introduce the advantages and missions of state-owned capital into private enterprises,thereby driving private enterprises to assume the social responsibility of poverty alleviation?In view of this,this paper takes A-share private enterprises in China from 2016 to 2021 as the research sample to explore the impact of mixed-ownership reform on the level,mechanism,and mode of precise poverty alleviation investment.It is found that the higher the proportion of state-owned capital participation,the greater the level of targeted poverty alleviation investment by private enterprises,indicating that mixed-ownership reform helps promote private enterprises in assuming the social responsibility of promoting com

关 键 词：混合所有制 精准扶贫 国有资本 资源互补 监督制衡 

分 类 号：F272[经济管理—企业管理]