The Empirical Research On The Relationships Between Corporate Social Responsibility And Sustained Growth Capacity Of Real Estate Enterprises In China

Since twentieth century,with the development of enterprises tend to be more and more huge,the enterprises bring more and more catastrophes.Under this background,the concept of corporation social responsibility came into being.During the100years from1924when Oliver Sheldon proposed the concept of CSR for the first time,with furious debating,now,it is generally believed that enterprises should undertake social responsibility.In China,the research about CSR appeared relatively late,but a lot of issues such as food safety and high housing prices push CSR to people in China.More and more people started to pay much attention to CSR.Real estate has been a very important role in China.On the one hand,it is pillar industry,which contributes much fiscal revenue to the government. On the other hand,it provides house to common people in China.However,as too short time for the development of real estate industry and lack of enough rules and regulations in real estate.a lot of problems arise,which include high housing prices,poor housing quality.defraud the revenue and poor property services.All these problems make people think that real estate companies have no sense of social responsibility at all.Some people even suggested that real estate companies are the companies that have least sense of social responsibility.Besides,although with the rapid development of Chinese economy,real estate industry has made great development in the pass years,whether or not that they still can experience long-time and sustainable development is also a focus of attention.The research in the past mainly payed more attention to the relationship between CSR and financial performance,CSR and enterprise value.However.these short-term indexes can not provide a nice interpretation to the relationship between CSR and long-term development.This paper tries to choose some composite indexes to measure corporation sustainable development capability,then check the relationship between sustainable development capability and CSR,to provide some evidence for real estate companies actively undertake social responsibility.The research method includes factor analytic method,correlation analytic method and regression analytic method.And,the paper checks the relation between CSR in the current period and sustainable development capability in the current period,and the relationship between CSR in the current period and sustainable development capability in the later period.The purpose of this paper is to check the relationship between CSR and sustainable development capability with the method of empirical method,to provide solid evidence for real estate companies actively undertake CSR.There are five parts:The first part is introduction.First,we introduce the research background and significance of the subject.Then,we summarize the domestic and overseas papers.Last,we present the content frame and innovation points.The second part is relevant theories about CSR and sustainable development capability.In this part,we present the concepts of CSR and sustainable development capability,then explain the relationship between CSR and sustainable development capability.The third part is research design.Tis part includes sample selection,data sources,CSR indexes,sustainable development capability indexes,controlled variable indexes and research hypothesis.The fourth part is empirical test and analysis.First,we get the factor score to measure sustainable development capability with the method of factor analysis.Then,we check the relationhip between CSR and factor score with the method of correlation analysis.Last,we use the method of regression analysis to get further understanding of the relationship between CSR and sustainable development capability.The fifth part is empirical conclusion and suggestion. Getting the conclusion that CSR can promote the growth of sustainable development capability,we then give the suggestion about the understanding of CSR in real estate companies.At last,we point out the shortage in this paper.There are following innovation points in this paper:First,through summarizing the domestic and overseas papers,we get the conclusion that the past researches mainly payed more attention to the relationship between CSR and single indexes,such as financial performance and enterprise value.This paper chooses composite index,first using factor score from factor analysis measure sustainable development capability,then check the relationship between CSR and sustainable development capability. Second,This paper pays much attention to single indexes,on the other hand,it makes a new complex index to check the relationship between CSR and sustainable development capability. Third,the past reaseraches mainly choosed all listed companies as sample,while this paper focuses on real estate industry,which can provide a more nichetargeting outcome.The shortage of this paper is that the time span is relatively small.We just choose date in two years two compare.Besides,for the reason of data colletion,we reject29real estate companies,which may result in inaccurate result.