 The impact of involvement in targeted poverty alleviation on corporate investment efficiencyYang Lou, Wei Zhou and Ying Ma Economic Analysis and Policy, 2023, vol. 79, issue C, 418-434 Abstract: Corporate social responsibility has received increasing attention in recent decades. In this paper, we investigate how corporate involvement in poverty alleviation affects investment efficiency. Based on the context of China, we find that involvement in targeted poverty alleviation improves enterprises’ investment efficiency through two channels: 1) resource effect, which alleviates enterprises’ underinvestment by obtaining strategic resources, and 2) governance effect, which reduces enterprises’ agency conflict and reduces enterprises’ overinvestment and underinvestment. This study enriches our understanding of the determinants of corporate investment efficiency and the economic consequences of targeted poverty alleviation. In addition, our findings also provide policy implications for both regulators to encourage enterprises to actively fulfill their social responsibilities and promote their high-quality development. Keywords: Involvement in targeted poverty alleviation; Investment efficiency; High-quality development (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:79:y:2023:i:c:p:418-434 DOI: 10.1016/j.eap.2023.06.023 Access Statistics for this article Economic Analysis and Policy is currently edited by Clevo Wilson More articles in Economic Analysis and Policy from Elsevier |
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