外资股东愿意参与精准扶贫吗?  

Are Foreign Shareholders Willing to Participate in Targeted Poverty Alleviation?

作　　者：林川[1] LIN Chuan(School of International Finance and Trade,Sichuan International Studies University,Chongqing 400031,China)

机构地区：[1]四川外国语大学国际金融与贸易学院,重庆400031

出　　处：《山东财经大学学报》2024年第3期96-105,120,共11页Journal of Shandong University of Finance and Economics

基　　金：国家社会科学基金青年项目“相对贫困视角下地方国企精准扶贫的长效机制研究”(20CGL013)。

摘　　要：精准扶贫是近年来中国上市公司履行社会责任的特殊表现形式,以2016—2021年沪深A股上市公司为样本,实证检验了外资股东与精准扶贫之间的关系。研究发现,外资股东愿意积极地参与精准扶贫。具体而言,与没有外资股东的上市公司相比,有外资股东的上市公司参与精准扶贫的概率与精准扶贫投入力度都更大,而且外资股东数量越多的上市公司,其参与精准扶贫的概率与精准扶贫投入力度也更大,这一结论在控制了稳健性因素与内生性因素同样成立。不同情境异质性检验结果表明,外资股东对精准扶贫的推动作用,在非国有企业、低制度环境地区、低股价崩盘风险企业中表现得更为明显。研究结论提供了外资股东对精准扶贫影响的经验证据,拓展了精准扶贫影响因素的研究视角。Targeted poverty alleviation is a special manifestation form of social responsibility fulfilled by Chinese listed companies in recent years.By taking the A-share listed companies in Shanghai and Shenzhen stock markets from 2016 to 2021 as samples,this study empirically tests the relationship between foreign shareholders and targeted poverty alleviation.It is found that foreign shareholders are willing to actively participate in targeted poverty alleviation.Specifically,the listed companies with foreign shareholders have a higher probability of participating in targeted poverty alleviation and greater investment in targeted poverty alleviation compared with the listed companies without foreign shareholders,and moreover,the listed companies with more foreign shareholders have an even higher probability of participating in targeted poverty alleviation and even greater investment in targeted poverty alleviation.This conclusion holds true after both robust factors and endogenous factors are controlled.The heterogeneity test results in different contexts indicate that the driving effect of foreign shareholders on targeted poverty alleviation is more clearly manifested in non-state-owned enterprises,low institutional environment areas and low stock price collapse risk enterprises.These research conclusions have provided the empirical evidence on the impact of foreign shareholders on targeted poverty alleviation,expanding the research perspectives on the influencing factors of targeted poverty alleviation.

关 键 词：外资股东 精准扶贫 资本市场扶贫 

分 类 号：F275[经济管理—企业管理]