| In China, the study of social responsibility is although still in its infancy, now more and more attentions make it to be a very hot topic. The real estate industry is a pillar industry of national economy, which has a relationship between people's livelihood and social harmony. But in recent years, some problems in the real estate companies have emerged, for example the lowness of industry credibility, tax evasion, malicious real estate and store room, prices raising, not high quality housing and so on, which arouses the whole society to be widespread concerned about the corporate social responsibility of real estate. In the meanwhile, people require more voices for corporate social responsibility of real estate. But some scholars believe that corporate social responsibility will reduce the company's business performance, therefore, the empirical analysis of the business performance impact on real estate with corporate social responsibility, will be the most important subject of this study.In this paper, first of all, there is an overview of relevant theory, including the meaning of corporate social responsibility and the theoretical arguments, the concept of business performance, the combination of social responsibility and stakeholder theory. And then the paper attempts to analyze the status of social responsibility and commitment in the real estate industry and its root of the problems. Finally, based on the theoretical analysis, the relationship between our real estate business performance and corporate social responsibility is empirically tested. This paper has selected Shanghai and Shenzhen A-share listed real estate companies from 2006 to 2009 as a research sample, taken the stakeholders as the measure of social responsibility, and established a multiple linear regression model. At last, a model analysis of business performance impact on the real estate with corporate social responsibility is made by the regression results. |
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