Targeted poverty alleviation and the cost of equity capital: Evidence from China

被引：0
|
作者：
He, Chaohua [1 ]
Li, Yun [2 ]
机构：
[1] Univ Int Business & Econ, Sch Int Trade & Econ, 10 Huixin East St, Beijing 100029, Peoples R China
[2] Univ Int Business & Econ, Grad Sch, 10 Huixin East St, Beijing 100029, Peoples R China
来源：
ECONOMICS LETTERS | 2024年 / 237卷
关键词：
Targeted poverty alleviation; Integrated poverty alleviation; Charitable poverty alleviation; Cost of equity; CORPORATE SOCIAL-RESPONSIBILITY; DISCLOSURE; CSR;
D O I：
10.1016/j.econlet.2024.111664
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The paper examines the impact of corporate targeted poverty alleviation (TPA) on corporate cost of equity. We find that: (1) TPA can reduce the cost of equity and integrated TPA has a more significant effect than charitable TPA; (2) The role of TPA is more pronounced in polluting companies; (3) Possible channels include signal effect, agency cost, and social investment preference. Our findings indicate that poverty could be alleviated by engaging companies seeking lower cost of equity in TPA.
引用
收藏
页数：6
相关论文
共 50 条
  • [1] Does CSR affect the cost of equity capital: Empirical evidence from the targeted poverty alleviation of listed companies in China
    Yi, Yuting
    Xie, Bangsheng
    Zhou, Lixue
    Wei, Yuanzhu
    [J]. PLOS ONE, 2020, 15 (02):
  • [2] Targeted poverty alleviation in China: Evidence from Jingdong e-commerce poverty alleviation
    Fang, Lijie
    Huang, Chien-Chung
    [J]. POVERTY & PUBLIC POLICY, 2020, 12 (04): : 386 - 396
  • [3] Targeted Poverty Alleviation Information Disclosure and Equity Financing Cost
    Zhao, Lu
    Wu, Xuhan
    Wang, Zhitao
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2022, 58 (08) : 2181 - 2190
  • [4] Targeted poverty alleviation and corporate investment efficiency: evidence from China
    Huang, Xiaobei
    Song, Yunling
    Lv, Jianing
    Ji, Mengru
    [J]. ELECTRONIC COMMERCE RESEARCH, 2022,
  • [5] Does Targeted Poverty Alleviation Policy Reduce Poverty? Evidence From Rural China
    Yu, Wenguang
    Wang, Qi
    Wang, Yaxuan
    Guan, Guofeng
    Gao, Yixin
    [J]. SAGE OPEN, 2023, 13 (04):
  • [6] Can enterprises' participation in targeted poverty alleviation reduce the cost of debt financing? Evidence from China
    Zhao, Wenjia
    Liang, Yiyan
    Li, Pan
    [J]. FINANCE RESEARCH LETTERS, 2023, 58
  • [7] TARGETED POVERTY ALLEVIATION AND STOCK PRICE CRASH RISK: EVIDENCE FROM CHINA
    Chen, Shoudong
    Li, Yueshan
    [J]. SINGAPORE ECONOMIC REVIEW, 2023, 68 (04): : 1271 - 1301
  • [8] Cumulative Effect, Targeted Poverty Alleviation, and Firm Value: Evidence from China
    Xiong, Li
    Long, Xiaoliang
    Xu, Zhaoran
    [J]. SUSTAINABILITY, 2022, 14 (15)
  • [9] Can Targeted Poverty Alleviation Program Reduce Depression? Evidence From China
    Yang, Ziying
    Xiong, Chang
    Tang, Manping
    [J]. INTERNATIONAL JOURNAL OF PUBLIC HEALTH, 2024, 69
  • [10] Financial development and the cost of equity capital:Evidence from China
    Jeong-Bon Kim
    Mary L.Z.Ma
    Haiping Wang
    [J]. China Journal of Accounting Research, 2015, 8 (04) : 243 - 277
12345