Abstract: The existing research focuses on exploring the influencing factors of companies' implementation of targeted poverty alleviation from the dimension of individual enterprises, ignoring the embeddedness of individual companies' behaviors in social networks. In view of this, targeted poverty alleviation data of Chinese A-share listed companies from 2016~2020 are selected to explore the influence of shareholders' poverty alleviation networks on corporate targeted poverty alleviation behavior and its mechanism from the social network perspective, which has been less addressed in previous studies. The results show that:(1)The shareholders' poverty alleviation networks can significantly promote the active participation of companies in targeted poverty alleviation. (2) Mechanism analysis finds that corporate poverty alleviation behavior can be transmitted in the shareholder poverty alleviation network, and that shareholder poverty alleviation networks can influence companies to participate in precise poverty alleviation through information channels and corporate governance channels. (3)Further analysis shows that, the nature of firms' property rights, financing constraints and the degree of marketization of the region in which they are located can have a heterogeneous impact on the relationship between shareholder networks for poverty alleviation and firms' pro-poor behavior. Therefore this paper provides an analytical perspective of the informal system for promoting the participation of companies in the rural revitalization strategy, as well as a useful reference for government departments to guide shareholders' socially responsible investment.

Key words: company targeted poverty alleviation, shareholders’ poverty alleviation networks, information sharing, corporate governance, rural revitalization