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Has corporate involvement in government-initiated corporate social responsibility activities increased corporate value? —Evidence from China's Targeted Poverty Alleviation

Business

Has corporate involvement in government-initiated corporate social responsibility activities increased corporate value? —Evidence from China's Targeted Poverty Alleviation

J. Jing, J. Wang, et al.

This research explores how corporate involvement in China's Targeted Poverty Alleviation program can significantly enhance corporate value. Interestingly, it reveals that government-initiated CSR efforts are more beneficial than those initiated by corporations themselves. Find out how increased institutional investor shareholding, government support, and enhanced corporate reputation play a crucial role in this dynamic, especially among state-owned enterprises. This study was conducted by Jielin Jing, Jianling Wang, and Zhuochen Hu.

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Playback language: English
Abstract
This paper investigates the relationship between corporate participation in China's Targeted Poverty Alleviation (TPA) program and corporate value. It finds that participation in government-initiated CSR, particularly "integrated poverty alleviation," increases corporate value more than corporate-initiated CSR. This is mediated by increased institutional investor shareholding, government subsidies, and improved corporate reputation. The impact is stronger for state-owned enterprises, in less competitive industries, and in regions with higher marketization.
Publisher
Humanities and Social Sciences Communications
Published On
Jun 27, 2023
Authors
Jielin Jing, Jianling Wang, Zhuochen Hu
Tags
corporate participation
Targeted Poverty Alleviation
corporate value
government-initiated CSR
institutional investors
corporate reputation
state-owned enterprises

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