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

被引：1
|
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.
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页数：6
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