Study On The Relationship Between Social Responsibility And Finacial Performance Of Real Estate Enterprises In China

As the modern enterprises show greater influence on social development since the twentieth century, there are more and more appeal of enterprises'being socially responsible. It is a social hot spot that how to enhance the initiative of enterprises in social responsibility undertaking, as well as the balance between enterprise development and social development.After two decades of development, real estate industry has become one of the pillar industries in China. However, to be the dark side of rapid development, a lot of social problems emerged, such as hoarding speculation, bidding up, tax evasion, dishonesty, and ignoring the quality of houses or property service. The issue of real estate enterprises'social responsibility undertaking is widely concerned now. Some scholars believed that enterprises' undertaking social responsibility would decrease their financial performance, then is the main research contents.First of all, the theory of enterprises'social responsibility together with its research results were summarized. The objects and content of real estate enterprises' social responsibility were defined by the combination of the stakeholder theory and enterprises' social responsibility.Secondly, the relationship between social responsibility and financial performance of were studied through both economics and game theory perspective.Finally, empirical test was employed to research on the relationship between social responsibility and financial performance of real estate enterprises. Both accounting index and market index were used to evaluate real estate enterprises'financial performance. Real estate enterprises'social responsibility was quantitatively evaluated based on the stakeholder theory. The influence of real estate enterprises' undertaking social responsibility on their financial performance were analyzed by the multiple linear regression equation model, which was based on the real estate enterprises listing on the A share market.