Research On The Impact Of Enterprise Participation In Targeted Poverty Alleviation On Financial Risk

Currently,China’s economy has shifted from a stage of rapid growth to a stage of highquality development.As an important entity in economic development,enterprises must pay attention to financial risks in order to achieve high-quality development.The development of enterprises is closely related to the high-quality development of China’s economy.To develop towards high quality,enterprises need to reduce the occurrence of financial risks.Financial risk is an objective risk that exists in the production and operation process of enterprises,reflecting the economic consequences of enterprise behavior.In recent years,more and more enterprises have gradually attached importance to social responsibility and actively participate in social responsibility activities.Enterprise participation in targeted poverty alleviation,as an important form of social responsibility,not only generates social benefits but also helps to increase enterprise value.Can enterprises participate in targeted poverty alleviation to help them establish a good social image,win more media attention,accumulate high reputation value,and obtain the necessary resources for development? Can they optimize the financial situation of enterprises in the production and operation process,thereby reducing financial risks? This thesis conducts in-depth research on the relationship between enterprise participation in targeted poverty alleviation and financial risks,and further analyzes the pathways through which enterprise participation in targeted poverty alleviation affects financial risks.In 2016,the China Securities Regulatory Commission and the Shanghai and Shenzhen Stock Exchanges began to require listed companies to disclose relatively complete Targeted Poverty Alleviation information,so this thesis selects China’s A-share listed companies from2016 to 2020 as the initial research samples,and verifies the impact of enterprise participation in targeted poverty alleviation on financial risks through theoretical analysis and empirical testing.The empirical research results indicate that:(1)Enterprise participation in targeted poverty alleviation can reduce financial risks.(2)Enterprise participation in targeted poverty alleviation reduces financial risks by alleviating financing constraints.(3)Enterprise participation in targeted poverty alleviation can help increase media attention and thereby reduce financial risks.(4)Further refinement of poverty alleviation methods has been tested,and the participation of enterprises in industrial poverty alleviation significantly reduces financial risks.Enterprise participation in industrial poverty alleviation can reduce financial risks by alleviating financing constraints and increasing more media attention,respectively;The effect of enterprises participating in education poverty alleviation to reduce financial risks is slowly releasing.(5)From the perspective of property rights,compared to state-owned enterprises,non-state-owned enterprises participating in targeted poverty alleviation has a more significant effect on reducing financial risks.This thesis aims to propose countermeasures and suggestions for enterprise managers,stakeholders,and the media.Enterprise managers should enhance their awareness of financial risk management and clarify the importance of assuming social responsibility in reducing financial risks;Stakeholders should actively pay attention to the behavior of enterprises in assuming social responsibility,create a good development environment for enterprises,and reduce financing constraints for enterprises;The media should fully leverage the publicity and reporting role of news and strengthen attention to corporate social responsibility behaviors.This thesis complements the research on the influencing factors of financial risk from the perspective of targeted poverty alleviation,in order to provide reference for consolidating and expanding the achievements of poverty alleviation,helping rural revitalization and achieving common prosperity.