Research On The Impact Of Non-agricultural Industry Private Enterprises’ Participation In Precise Poverty Alleviation On Performance

The participation of enterprises in precise poverty alleviation is an important manifestation of their social responsibility,but it also requires enterprises to invest resources.The goal of business is to maximize profits.So,is participation in precise poverty alleviation just a "contribution" for enterprises,or can they also "benefit" from it? Regarding the impact of participation in poverty alleviation on enterprises,most of the existing studies focus on poverty alleviation subjects with natural poverty alleviation advantages or strong obligation to alleviate poverty,such as agriculture-related enterprises and stateowned enterprises,but this paper focuses on non-agriculture-related private enterprises as a special poverty alleviation subject to study the social and economic benefits of G enterprises’ participation in precise poverty alleviation.According to the logic of poverty alleviation background,poverty alleviation motivation,poverty alleviation behavior and poverty alleviation effect,this paper selects non-agricultural private enterprises-G enterprises as the research object to carry out specific research.First,the background and motives of G enterprises’ participation in precise poverty alleviation are analyzed.Second,we study the specific poverty alleviation behaviors and summarize the poverty alleviation results according to the "Ji Shi Yu" precision poverty alleviation project carried out by G enterprises.Again,to analyze the impact of its participation in precise poverty alleviation on its performance,this paper draws on the empirical studies of related scholars and adopts the evaluation method combining earnings per share,return on total assets,return on net assets and return on invested capital to predict the performance of G enterprises before and after poverty alleviation,and conducts longitudinal comparison analysis of the performance before and after poverty alleviation,"counterfactual"comparison analysis with enterprises that do not alleviate poverty,and"counterfactual" comparison analysis with enterprises in the same industry."The study finds that the performance of G enterprises improves after participating in precise poverty alleviation,and then analyzes whether the disclosure of poverty alleviation information can bring excess returns based on the event study method,thus supporting the conclusion that G enterprises’ participation in precise poverty alleviation helps improve enterprise performance.Then,we further investigate how G enterprises’ participation in poverty alleviation improves corporate performance.Based on the analysis of stakeholder mechanism,participation in poverty alleviation helps G enterprises strengthen internal and external social capital and gain social trust;based on the analysis of governmententerprise bonding mechanism,participation in poverty alleviation helps G enterprises obtain government subsidies and tax benefits;based on the analysis of reputation mechanism,participation in poverty alleviation helps G enterprises increase media attention Based on the analysis of reputation mechanism,participation in precise poverty alleviation helps G enterprises increase media attention,improve corporate reputation,and enhance brand value;based on the analysis of signaling mechanism,participation in precise poverty alleviation helps G enterprises increase non-financial information disclosure and reduce information asymmetry.Then,this paper integrates the above economic consequences and analyzes the specific paths of participation in poverty alleviation to improve performance.The study finds that participation in poverty alleviation helps optimize capital structure,reduce corporate costs,alleviate financing constraints,expand market share,and reduce inefficient investment,thus improving corporate performance.Finally,from the case,we summarize the economic consequences of G enterprises’ participation in precise poverty alleviation and put forward relevant suggestions for the common problems in the process of poverty alleviation,so as to help more enterprises optimize their corporate performance in the process of fulfilling their social responsibilities,promote the two-way feedback of poverty alleviation and revitalization behaviors and enterprises’ own development,and better participate in rural revitalization.