Does targeted poverty alleviation disclosure improve stock performance?

摘要

The involvement of enterprises in targeted poverty alleviation is a unique aspect of corporate social responsibility in China. Using an event-study methodology, this paper investigates the effect of the disclosure of targeted poverty alleviation information on the stock performance of Chinese listed companies. Our findings indicate that the disclosure boosts stock returns in a short time, and that the stock prices of private enterprises react more strongly to the disclosure than those of state-owned enterprises. (c) 2021 Elsevier B.V. All rights reserved.