Research On The Influence Of Corporate Governance On Green Building Development

Vigorously developing green buildings is a key approach to green and low-carbon transformation of real estate enterprises in the new era.It is also an important measure to achieve the double carbon goal in urban and rural construction and urban sustainable development.However,the enthusiasm of independent development of green buildings by real estate enterprises is not high.Corporate governance is a key factor affecting the formulation,implementation and information disclosure of green building development strategy.Sustainable corporate social responsibility is not only a key factor for corporate governance mechanism to ensure that enterprises meet the needs of various stakeholders,but also the main driving force for real estate enterprises to develop green buildings.Therefore,to explore whether corporate governance will have an impact on the development of green buildings by real estate enterprises,and further explore the role of corporate social responsibility between corporate governance and green building development,so as to mobilize the independent initiative of green building development subjects and provide a basis for the formulation of relevant policies.By combing the research results in relevant fields at home and abroad and based on the relevant theoretical basis,this paper takes 47 listed real estate enterprises in Shanghai and Shenzhen A-shares and Hong Kong stocks from 2015 to 2020 as the research object,and establishes the partial least square structural equation model to study the relationship between corporate governance,corporate social responsibility and green building development.The empirical results show that:(1)Perfect and effective corporate governance structure has a significant positive impact on green building development.(2)The fulfillment of corporate social responsibility also plays a positive role in promoting the development of green buildings.(3)Corporate social responsibility plays a positive moderating role between the impact of corporate governance on green building development,that is,real estate enterprises with stronger sense of social responsibility,the improvement of corporate governance structure and the improvement of governance level will have a greater positive impact on green building development.Based on the research conclusions,this paper puts forward the following suggestions: From the enterprise level,(1)Real estate development enterprises should reasonably allocate corporate resources,optimize corporate governance structure,rationally expand the board of directors by coordinating the degree of concentration and dispersion in the corporate ownership structure,give play to the supervisory functions of independent directors and the board of directors,and formulate an effective executive incentive mechanism to promote the development of green buildings;(2)Enterprise managers should improve their awareness of fulfilling social responsibilities,meet the demands of the public by improving shareholders’ rights and interests,paying attention to staff development,enhancing their sense of responsibility to suppliers and customers,and participating in social welfare activities,and incorporate CSR performance into the incentive mechanism of enterprises to promote long-term green and sustainable development of enterprises.From the government level,(1)relevant government departments should encourage enterprises to take the initiative to assume social responsibilities by improving the social responsibility governance mechanism,optimizing market rules and business environment,and further improve the enthusiasm of real estate enterprises to take the initiative to develop green buildings;(2)The relevant state departments should force enterprises to make ESG disclosure,and improve the standardized development of ESG disclosure system,so as to regulate their own business behavior,encourage the fulfillment of corporate social responsibility,promote the large-scale development and construction of green buildings,and promote the long-term development of enterprises and society.