Can Fulfilling Social Responsibility Alleviate Bankruptcy Risks?——From the Perspective of Precision Poverty Alleviation

Precision poverty alleviation is an innovative form of poverty alleviation tailored to China’s unique national conditions,aiming to address the issue of poverty.The participation of enterprises in precision poverty alleviation can achieve a win-win situation,not only helping impoverished areas to lift themselves out of poverty but also benefiting the companies themselves.By selecting all the listed companies in the Shanghai and Shenzhen A-share markets that participated in precision poverty alleviation from 2016 to 2021 as samples,this paper delved into the impact of enterprise participation in targeted poverty alleviation on their bankruptcy risk.Research showed that the higher the investment of enterprises in precision poverty alleviation,the lower the bankruptcy risk of enterprises.Mechanism analysis showed that participating in targeted poverty alleviation could improve information transparency and alleviate financing constraints,thereby reducing the risk of corporate bankruptcy.