【摘要】 发挥微观市场主体企业力量参与贫困治理彰显了中国之治的独有智慧。为动员企业积极履行扶贫社会责任、参与贫困治理，响应乡村全面振兴的战略需求，深入探究企业参与贫困治理的动因及机制具有重要意义。本文选取2016-2019年沪深上市公司数据，立足复杂信息环境，考察媒体关注对企业参与贫困治理的影响和作用机理。研究发现，媒体关注对企业参与贫困治理有显著促进作用，外部市场环境在两者关系中发挥了正向调节作用，投资者关注加强是媒体关注正向影响企业参与贫困治理的重要渠道。在进行内生性问题处理和稳健性检验后，以上结论仍然成立。进一步研究表明，将企业参与贫困治理细分为贫困治理投入、贫困治理成效、整合型贫困治理和慈善型贫困治理类型后，媒体关注仍发挥显著的正效应。媒体消极情感倾向更有助于企业积极参与贫困治理。企业积极参与贫困治理有利于缓解企业面临的融资约束、降低潜在风险。研究对发挥媒体监督和治理作用，激发企业参与贫困治理动力，助力中国之治系统工程建设有重要学术意义和实践价值。更多还原

【Abstract】 Enterprises, micro-market players, participate in poverty governance, highlighting the unique wisdom of Chinese governance. To mobilize enterprises to actively fulfill the social responsibility of poverty alleviation and participate in poverty governance, and respond to the demand for rural revitalization strategy, it is important to explore the motivation and mechanisms of enterprises’ participation in poverty governance. This paper uses data from listed companies in Shanghai and Shenzhen during the period 2016-2019 and examines the impact and mechanism of media attention on corporate participation in poverty governance based on a complex information environment. We find that media attention significantly contributes to corporate participation in poverty governance. The effect is more pronounced for firms located in regions with higher market development degrees. We also find that media attention impacts corporate participation in poverty governance through investor attention. The results are robust to confronting several sources of endogeneity and robustness tests. Furthermore, media attention still plays a significant positive effect after subdividing corporate participation in poverty governance into poverty governance inputs, poverty governance effectiveness, and different types of poverty governance including integrated poverty governance and philanthropic poverty governance. The negative media sentiment can promote firms to participate actively in poverty governance. The active participation of enterprises in poverty governance is beneficial to alleviating the financial constraints and reducing potential risks. Our research has important academic significance and practical value for bringing into play the role of media monitoring and governance, motivating enterprises to participate in poverty governance, and helping the construction of China’s governance system project.更多还原