The Effect of TMT Stability on Enterprises’ Participation in Targeted Poverty Alleviation: Evidence from China

The Effect of TMT Stability on Enterprises’ Participation in Targeted Poverty Alleviation: Evidence from China | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Article The Effect of TMT Stability on Enterprises’ Participation in Targeted Poverty Alleviation: Evidence from China Jing LIU, Bo GAO This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8857922/v1 This work is licensed under a CC BY 4.0 License Status: Under Review Version 1 posted 8 You are reading this latest preprint version Abstract Based on the practice of poverty alleviation in China, this paper empirically studies the effect of top management team (TMT for short) stability on firms’ participation in targeted poverty alleviation. Regression results show that a stable TMT can encourage the firm to invest in targeted poverty alleviation. This is partly because a stable TMT can inhibit managerial myopia and invest in long-term development. Further analysis shows the positive effect of TMT stability on the firm’s targeted poverty alleviation is more significant in firms that do not implement equity incentives, firms with adequate cash flow, firms facing mild market competition, firms located in a less marketized environment, and state-owned enterprises. Economic consequences tests show that active participation in targeted poverty alleviation can be conducive to firm value, and a stable TMT can make the positive influence more sustainable. Business and commerce/Economics Social science/Economics Earth and environmental sciences/Environmental social sciences Targeted Poverty Alleviation TMT Stability Equity Incentives Managerial Myopia Full Text Additional Declarations No competing interests reported. Supplementary Files data.zip Cite Share Download PDF Status: Under Review Version 1 posted Reviewers agreed at journal 09 Apr, 2026 Reviews received at journal 22 Mar, 2026 Reviewers agreed at journal 22 Mar, 2026 Reviewers invited by journal 17 Mar, 2026 Editor assigned by journal 27 Feb, 2026 Editor invited by journal 27 Feb, 2026 Submission checks completed at journal 25 Feb, 2026 First submitted to journal 25 Feb, 2026 You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. 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Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-8857922","acceptedTermsAndConditions":true,"allowDirectSubmit":false,"archivedVersions":[],"articleType":"Article","associatedPublications":[],"authors":[{"id":608457769,"identity":"4b046da5-05e3-4462-ab7d-cb06817ad13b","order_by":0,"name":"Jing LIU","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAA80lEQVRIiWNgGAWjYBACPmYGBoMEBgY5NvbGxscMBiCxBPxa2KBajPl5DjcbMxgYEKEFSifOnJHeJs3AQIwWdh6Dgoc7ahk3HEhsqy4o+MPAz55jwPBzBz6H8RgYJJ45zmxw4GDb7RlAh0n2vDFg7D1DSEvbMTaDg41tt4FsBoMbOQbMjG2EtfAYHGZsKwZpsSdSS42EZBtjGzPYFgmCWtgKgFoOGPDzMDZL8xgY80iceVZwsBePFn7+w9sMf7bV1bfJP3/4meePnBx/e/LGBz/xaAFZBIyLw3AeD4g4gFcDAwPzAwaGOgJqRsEoGAWjYEQDAPCZSDCvHwVNAAAAAElFTkSuQmCC","orcid":"","institution":"Harbin Institute of Technology","correspondingAuthor":true,"prefix":"","firstName":"Jing","middleName":"","lastName":"LIU","suffix":""},{"id":608457770,"identity":"fcb50e42-3ee2-4900-a48f-9bee33971a46","order_by":1,"name":"Bo GAO","email":"","orcid":"","institution":"Harbin Institute of Technology","correspondingAuthor":false,"prefix":"","firstName":"Bo","middleName":"","lastName":"GAO","suffix":""}],"badges":[],"createdAt":"2026-02-12 05:53:51","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-8857922/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-8857922/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":105012325,"identity":"e1620439-22b2-48c2-bc5a-4d1a11d7e7ae","added_by":"auto","created_at":"2026-03-19 21:18:04","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":406855,"visible":true,"origin":"","legend":"","description":"","filename":"manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-8857922/v1_covered_2d592eeb-3bee-427e-8c6a-c8f0ec3619f6.pdf"},{"id":105012324,"identity":"4b1a291c-99ce-41d4-a6da-fef523199148","added_by":"auto","created_at":"2026-03-19 21:17:58","extension":"zip","order_by":0,"title":"","display":"","copyAsset":false,"role":"supplement","size":1808584,"visible":true,"origin":"","legend":"","description":"","filename":"data.zip","url":"https://assets-eu.researchsquare.com/files/rs-8857922/v1/915bf2e9cc33c4dca982b03b.zip"}],"financialInterests":"No competing interests reported.","formattedTitle":"The Effect of TMT Stability on Enterprises’ Participation in Targeted Poverty Alleviation: Evidence from China","fulltext":[],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":false,"hideJournal":false,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":true,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"humanities-and-social-sciences-communications","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"palcomms","sideBox":"Learn more about [Humanities \u0026 Social Sciences Communications](http://www.nature.com/palcomms/)","snPcode":"41599","submissionUrl":"https://submission.springernature.com/new-submission/41599/3","title":"Humanities and Social Sciences Communications","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Nature AJ","inReviewEnabled":true,"inReviewRevisionsEnabled":false},"keywords":"Targeted Poverty Alleviation, TMT Stability, Equity Incentives, Managerial Myopia","lastPublishedDoi":"10.21203/rs.3.rs-8857922/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-8857922/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eBased on the practice of poverty alleviation in China, this paper empirically studies the effect of top management team (TMT for short) stability on firms\u0026rsquo; participation in targeted poverty alleviation. 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