上市公司精准扶贫行为是“无私奉献”还是“相得益彰”

Is Listed Companies’ Accurate Poverty Alleviation “Selfless” or “Complementary”?

近年来我国在脱贫攻坚中取得了显著成就,主要归功于国家政策的正确引导以及财政的大力支持,与此同时社会力量的参与也起到了举足轻重的作用。上市公司参与精准扶贫项目对于贫困地区以及贫困户的稳定脱贫、长效扶贫机制的建立发挥了重要作用,同时上市公司参与精准扶贫是否会有助于改善其自身财务绩效呢?基于此本文以2016年参与精准扶贫的上市公司为实验组,并选取在2017年和2018年均未参与精准扶贫的上市公司为控制组,运用倾向匹配得分法研究二者之间的关系。研究发现上市公司参与精准扶贫对其财务指标影响的显著性水平有限,但总体呈现正向促进作用,并且存在一定的滞后期;进一步研究发现对于国有控股上市公司的财务指标影响水平要低于民营控股上市公司,但在滞后期方面表现更为显著,表明国有控股上市公司参与精准扶贫的动机更多是履行社会责任。

China has achieved remarkable achievements in poverty alleviation in recent years,mainly due to the correct guidance of national policies and strong financial support,besides,the social forces have also played a pivotal role.The participation of Chinese listed companies in targeted poverty alleviation projects has played an important role in the establishment of stable poverty alleviation and long-term poverty alleviation mechanisms for poor areas and households.But will the participation of listed companies in targeted poverty alleviation affect their own financial indicators?Based on this,this paper takes the listed companies that participated in targeted poverty alleviation in 2016 as the experimental group,and selects listed companies that did not participate in targeted poverty alleviation in 2017 and 2018 as the control group,and uses the tendency matching score method and related regression models to study the relationship between them.The study found that the level of significance of listed companies’participation in targeted poverty alleviation on their financial indicators was low,but the overall promotion effect was positive,and there was a certain lag;further analysis found that the level of financial indicators on state-controlled listed companies was lower than Privately held listed companies,but have been effectively improved in the lag period,which further validates that state-controlled listed companies are more involved in precision poverty alleviation from the perspective of fulfilling social responsibilities.