Research On ESG Information Disclosure Quality Evaluation Of Real Estate Listed Companies

As an important part of the national economy,the real estate industry plays a very important role in the entire national economic system.But at present,the real estate industry also faces many uncertainties.Therefore,how to realize the sustainable and high-quality development of the real estate industry has become a widespread concern of all sectors of society.In recent years,with the joint promotion of all sectors of society,the ESG concept and application have developed rapidly,and the ESG system integrating ESG information disclosure,ESG rating and ESG investment has gradually formed.The application of ESG concept is an important way to promote the sustainable and high-quality development of real estate enterprises.ESG information disclosure is the basis,and improving the quality of ESG information disclosure is the top priority.Therefore,this paper intends to study the quality of ESG information disclosure of listed real estate companies in China.First of all,the introduction introduces the research background,research purpose,research significance,research content and research methods of this paper,and summarizes the research results of relevant papers at home and abroad.Then it sort out relevant concepts and theoretical foundations,expounds and defines the concepts of real estate industry,real estate listed companies,ESG,information disclosure,ESG information disclosure quality,and introduces the triple bottom line theory,stakeholder theory,information asymmetry theory and signal transmission theory.Then,it analyzes the selection of ESG information disclosure quality evaluation indicators of real estate listed companies,forms the ESG information disclosure quality evaluation indicator system of real estate listed companies,and uses the entropy weight method to determine the weight of ESG information disclosure quality evaluation indicators.Finally,select Poly Development for empirical analysis,use the constructed ESG information disclosure quality evaluation system for analysis,draw the evaluation results of Poly Development’s ESG information disclosure quality,and propose countermeasures and suggestions to improve the quality of Poly Development’s ESG information disclosure.After research,this paper draws the following conclusions:(1)The ESG information disclosure quality evaluation index system of real estate listed companies includes six first-level indicators,namely integrity,reliability,comprehensibility,comparability,balance and timeliness.Each first-level indicator also includes several second-level indicators,among which the integrity indicator is evaluated by a total of 30 second-level indicators from the three dimensions of environment,society and corporate governance.Reliability,understandability and comparability include three secondary indicators,and timeliness includes two secondary indicators.(2)This paper uses the entropy weight method to select some real estate listed companies as samples and calculate the weight of ESG information disclosure quality evaluation indicators of real estate listed companies.It is found that the weight of integrity,reliability and comprehensibility is high,while the weight of comparability,balance and timeliness is relatively low.(3)Based on the analysis of the constructed ESG information disclosure quality evaluation system,the results of the evaluation of the ESG information disclosure quality of Poly Development are obtained,and it is believed that the ESG information disclosure quality of Poly Development in 2021 is good.However,there are also certain defects,such as the failure to hire an external third party for authentication,lack of explanation of professional vocabulary,poor comparability of key performance indicators,lack of disclosure of negative information and other issues.(4)In view of the problems existing in Poly’s development of ESG information disclosure,this paper proposes countermeasures to improve the quality of ESG information disclosure.At the regulatory level,it is necessary to strengthen the construction of the ESG information disclosure infrastructure,establish and improve the ESG information disclosure incentive mechanism,promote the third-party authentication of ESG reports,and establish the ESG information disclosure violation punishment measures.At the company level,we should improve the company’s awareness of ESG information disclosure,improve the internal management system of ESG information disclosure,and strengthen the study of ESG information disclosure standards and policies.The research in this paper further enriches the theory of ESG information disclosure quality evaluation,and provides good theoretical support for real estate listed companies or other enterprises to conduct ESG information disclosure quality evaluation;It is conducive to analyzing the quality of ESG information disclosure of real estate listed companies and laying the foundation for subsequent ESG evaluation and ESG investment;It helps to force real estate listed companies to improve the quality of ESG information disclosure by optimizing the practice of ESG information disclosure.