An Empirical Study On The Relationship Between Corporate Social Responsibility And Financial Performance Of The Listed Real Estate Companies

In recent years,with the emerge of social problems,such as unqualified product,haze pollution and violations of consumer rights,the term social responsibility has been pushed to the cusp,the calls people asked the corporate to undertake social responsibility continue to rise.Most enterprises have been aware of importance of undertaking the social responsibility for the long-term development,it will not only enhance the corporate public image,but also be an indispensable factor of the core competitiveness.But there still exists a phenomenon of lack of social responsibility awareness,For them,the implementation of social responsibility is only a kind of expenditure,it will not bring any return.As a pillar industry in China,The real estate industry has greatly promoted the development of China's economy and society.But it is not difficult to find the problems behind it.In order to maximize their own interests,the real estate enterprises pursuit it at the expense of other stakeholders.For example: high house prices,especially some first and second-line cities,have far exceeded the purchasing power of people,which is a serious violation of the legitimate rights of consumers.In addition,the problems of unqualified house,frequent construction accidents,the pollution of wasting construction materials cause social dissatisfaction,the behaviors of blind pursuit of making their own interests maximize has seriously affected the process of building a harmonious society.The focus of this paper is on the relationship between social responsibility and financial performance,that is,whether social responsibility will have an impact on financial performance and what impact it will have.To this end,we select the special real estate industry as our research object,get theoretical explanation through the literature research and normative research and so on,get data argument through empirical research.The paper firstly summarizes the research results at home and abroad,so as to deepen the understanding of social responsibility and provide valuable experience for the study of the relationship between the two.Secondly,it introduces the theory of social contract and the theory of stakeholder,and expounds the contents,problems and causes of social responsibility fulfillment of real estate industry,and provides theoretical guidance for empirical research.Then,a total of 236 research samples were selected from the 82 real estate listed companies from 2013 to 2015,and demonstrate it by the methods of descriptive statistics,principal component analysis and multiple regression analysis.The results show that the fulfillment of social responsibility plays a role in promoting the financial performance of enterprises in general.Finally,describe the limitations of this research and look forward to the future.