Research On The Relationship Between Social Responsibility And Financial Performance Of Real Estate Enterprises

The development of the real estate industry can promote the development of related industries and promote the prosperity and development of the economy.However,it has become a common problem in the real estate industry to raise housing prices,poor quality of housing,serious environmental pollution,arrears of migrant workers' wages,poor construction environment and inadequate safety measures.Under the guidance of the management thinking of maximizing interest,the real estate enterprises blindly pursue the maximization of their own interests at the expense of the interests of the stakeholders,and then ignore the social responsibility for each stakeholder.This will not only be unfavorable to the long-term and stable development of enterprises,but also seriously affect the construction of a harmonious society.The ISO26000 standard believes that in the course of business development,enterprises should not only abide by the law and discipline,but also bear corresponding responsibilities.The undertaking of responsibility requires comprehensive consideration of moral obligations and promotes the healthy and orderly development of the society as a whole.Based on the ISO26000 standard,the article defines the stakeholders as the individual or organization that can affect the business decisions or activities from the stakeholder perspective,as well as the impact of the business decisions or activities,and the benefits related to the real estate listed companies as the stock of the original capital.East,the creditor of the external loan,the employee of the company,the buyer of the house,the current government and the relevant department,and the six suppliers in the upstream industry chain.Then,we discuss the specific social responsibilities of real estate listed companies to their stakeholders,and the impact of corporate social responsibility on financial performance.In the empirical test,145 Real Estate Company listed in Shanghai and Shenzhen are selected as the research object.With their 2011-2016 year financial data as sample data,it is found that the social responsibility of the real estate listed companies has a significant positive impact on the current financial performance of shareholders,employees,government and suppliers.The social responsibility of the consumer has a significant reverse effect on the current financial performance,and the social responsibility of the real estate listed companies has a significant effect on the later financial performance,especially the lagging two period,in which the bearing of the social responsibility to the shareholders is to lag the first,two and three periods.Business performance has a significant positive impact.