An Empirical Study on the Relationship between Social Responsibility and Financial Performance of Listed Real Estate Companies in China
Publication: ICCREM 2021
ABSTRACT
Based on the stakeholder theory, this paper chooses the relationship between listed real estate companies and shareholders, creditors, government, suppliers, employees, customers, and charity stakeholders as the index to measure the social responsibility of listed real estate companies. The return on assets (ROA) is selected as the indicator to measure the short-term financial performance of listed real estate companies, and the price-to-book ratio (PB) is selected as the indicator to measure the long-term financial performance of listed real estate companies. Based on the data of 90 listed real estate companies from 2013 to 2019, this paper studies the relationship between corporate social responsibility and financial performance using panel data model. The results show that, on the whole, the social responsibility of listed real estate companies in China has a significant positive impact on short-term financial performance, whereas the direction of impact on long-term financial performance is not obvious.
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Published In
ICCREM 2021
Pages: 844 - 850
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© 2021 American Society of Civil Engineers.
History
Published online: Dec 9, 2021
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