Abstract
Poverty alleviation policies aim to mobilize all forces including the power of capital market to achieve poverty reduction. While the relationships between these policies and agriculture-related listed companies are not recognized. By grading poverty alleviation policies of 20 provinces and using generalized least-squares regression of panel data, this paper discusses the influence of policy intensity on equity, debt and endogenous financing ability of agriculture-related listed companies. The results show that agriculture-related listed companies in regions with strong policy intensity have stronger equity financing capability and endogenous financing capability. The implication is that the governments of poverty-stricken areas should set out more specific policy, helping local enterprises to improve financing capacity, and then promote these listed companies to benefit from the power of capital market to shake off poverty.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Cepparulo, A., Cuestas, J.C., Intartaglia, M.: Financial development, institutions, and poverty alleviation: an empirical analysis. Appl. Econ. 49(36), 3611–3622 (2017)
Cheng, X., Bao, X., et al.: Analysis on the efficiency of science and technology financial policy in Beijing, Tianjin and Hebei region based on policy quantification. Sci. Technol. Manag. Res. 38, 62–68 (2018). (in Chinese)
Fan, M., Luo, Y., Wang, F.: Effect examination and policy choice of China’s poverty alleviation policy. J. Hebei Univ. Econ. Bus. 39, 11–17 (2018). (in Chinese)
Fang, L., Zhang, X.: The analysis on the poverty alleviation policy in rural China: based on capability poverty theory. J. Finance Econ. 47–57 (2007). (in Chinese)
Guo, Z.: The choice of financing mode of listed companies in China – based on the theory of optimal financing. CaiXun, p. 24 (2018). (in Chinese)
Ke, L., Xu, L.: Financial constrains, debt capacity, and firm performance. Econ. Res. J. 46, 61–73 (2011). (in Chinese)
Loayza, N.V., Raddatz, C.: The composition of growth matters for poverty alleviation. J. Dev. Econ. 93(1), 137–151 (2010)
Ma, X.: A review of Amartya Sen’s theory and method of right poverty. Soc. Sci. Abroad 69–74 (2008). (in Chinese)
Mo, C.: Evaluation and promotion strategy of equity financing ability of listed companies. Friends Acc. 76–79 (2013)
Peng, Y., Hu, J.: Subsidies and preferential tax policies and the operating performance of the listed agricultural companies: analysis of the implementation modalities and policy implications. Sichuan Univ. (Soc. Sci. Ed.) 86–94 (2009). (in Chinese)
Tan, X., Fang, J.: Research on the influence of the combination of industry and finance on the financing ability of agricultural listed companies? Issues Agric. Econ. 37(6), 50–60 (2016). (in Chinese)
Tang, X.: Research on the influence of the financial and tax subsidies on the value creation ability of enterprises. Master’s thesis, Chongqing Technology and Business University, Chongqing (2016). (in Chinese)
Wang, S.: Overcoming poverty in development - a summary and evaluation of China’s 30 years of experience in large-scale poverty reduction. Manag. World (11), 78–88 (2008). (in Chinese)
Wong, J.S.: The role of the government in poverty alleviation in Hong Kong: part I-dynamics of policy attention, choice and change. Asia Pac. J. Public Adm. 39(4), 238–257 (2017)
Xu, W.: Research on financing capability index system of science and technology small and medium-sized enterprise. Ph.D. thesis, Jiangnan University, Wuxi (2012). (in Chinese)
Xu, X., Lai, J., Cun, J.: Patterns and achievements of rural poverty reduction and policy suggestionsin western areas of China. Res. Agric. Modernization 31, 161–165 (2010). (in Chinese)
Xue, G.: Analysis on construction of Chinese agricultural products’ regional brand. Res. Agric. Modernization 31, 688–691 (2010). (in Chinese)
Ying, L.: A brief analysis of the positive role of the capital market poverty alleviation policy on the national poverty alleviation strategy. Ningbo Econ. (Sanjiang Forum) 33–35 (2017). (in Chinese)
Zeng, Q.: Discrimination and analysis of the weak and weak nature of agriculture. Soc. Sci. Yunnan 94–97 (2007). (in Chinese)
Zhang, Y., Yu, M.: Quantitative analysis of regional technological innovation policies with R language. J. Intell. 36, 113–118 (2017). (in Chinese)
Zhang, Z.: Endogenous financing capability, corporate governance quality and M&A performance. Res. Finan. Econ. Issues 51–56 (2014). (in Chinese)
Zhao, L.: Research on financing ability of listed companies in real estate industry. Ph.D. thesis, Northwest University, Xi’an (2007). (in Chinese)
Zhou, Y., Luo, Y.: Comparative study on the comprehensive financial ability and financing level of listed companies in ethnic minority regions. In: International Conference on Computer Science and Service System, pp. 288–292 (2011). (in Chinese)
Zou, C., Xu, J., Wang, Y.: Effect of governmental tax preferences and direct subsidies on the performance of listed agribusiness. Ind. Econ. Res. 53–59 (2006). (in Chinese)
Acknowledgements
Many thanks to Professor H. Liu and Doctor Q. Jiang for the advice and support. In the development of this paper, they helped a lot in the structure and the fluency of the text. Thanks also to my classmates who listened to my ideas with much patience. Special thanks to my teachers in our department who taught me a lot about this major.
Funding
We thanks for the following funding: Central University basic scientific research funding project of Sichuan University (SCU-BS-PY-202015; 2019skzx-pt165; skqy201622; skzx2015-sb68; skyb201402); Sichuan Provincial Department of education project (xyzx1506); Humanities and Social Sciences Program of the Ministry of Education(14YJC790053).
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Jiang, Q., Jia, L., Liang, S. (2020). The Impact of Poverty Alleviation Policy on the Financing Capability of Companies Related to Agriculture. In: Xu, J., Duca, G., Ahmed, S., García Márquez, F., Hajiyev, A. (eds) Proceedings of the Fourteenth International Conference on Management Science and Engineering Management. ICMSEM 2020. Advances in Intelligent Systems and Computing, vol 1190. Springer, Cham. https://doi.org/10.1007/978-3-030-49829-0_11
Download citation
DOI: https://doi.org/10.1007/978-3-030-49829-0_11
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-49828-3
Online ISBN: 978-3-030-49829-0
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)