Social Responsibility, Media Attention and Financial Risk of Listed Real Estate Companies in China

Research Article
Open access

Social Responsibility, Media Attention and Financial Risk of Listed Real Estate Companies in China

Jinyuan Chai 1*
  • 1 Northeast Normal University    
  • *corresponding author 385591408@qq.com
Published on 10 November 2023 | https://doi.org/10.54254/2754-1169/41/20232066
AEMPS Vol.41
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-83558-103-2
ISBN (Online): 978-1-83558-104-9

Abstract

In the past two years, real estate companies have been actively exploring new development models at the policy level. For the future sustainable development of real estate companies, ESG performance can reflect the overall credit quality of companies in non-financial aspects, while the fulfillment of social responsibility is an important factor in measuring the ESG performance of companies, and therefore gradually becomes a focus of attention. In order to analyse the relationship between social responsibility fulfillment and financial risk of real estate companies, this paper proposes hypotheses based on theories such as stakeholder theory, introduces media attention into the analysis framework, and selects data of Chinese A-share real estate listed companies from 2010 to 2019 for empirical testing. It is found that the fulfillment of social responsibility by real estate companies is negatively related to financial risk, while media attention plays a negative moderating role in this regard. The findings provide empirical support for the mechanism of the impact of social responsibility fulfillment on real estate companies' financial risk and offer policy options for real estate companies to reduce their own financial risk.

Keywords:

social responsibility, financial risk, real estate

Chai,J. (2023). Social Responsibility, Media Attention and Financial Risk of Listed Real Estate Companies in China. Advances in Economics, Management and Political Sciences,41,193-198.
Export citation

References

[1]. Gao YQ, Chen YJ & Zhang YJ. (2012). "Red scarf" or "green scarf": A study of private companies' motivation for charitable giving. Management World (08), 106-114+146.

[2]. Quan S.F., Wu S.N. & Yin H.Y.. (2015). Corporate social responsibility and share price collapse risk: a "value sharper" or a "self-interest tool"? Economic Research (11), 49-64.

[3]. MEHREZ A. (2020). Social responsibility and competitiveness in hotels: The role of customer loyalty. management science letters (8): 1797-180.

[4]. Huang Jinbo, Chen Lingxi & Ding J. A new species of the genus Phyllostachys. (2022). Corporate social responsibility, media coverage and the risk of share price collapse. Chinese Management Science (03), 1-12.

[5]. Wu D, Zhao QF & Han JY. (2020). Corporate social responsibility and technological innovation - Evidence from China. Nankai Economic Research (03), 140-160.

[6]. Gu, Lei-Lei, Guo, Jian-Luan & Wang, Hong-Yu. (2020). Corporate social responsibility, financing constraints and corporate financialization. Financial Studies (02), 109-127.

[7]. Wang, Jianling, Li, Yue-ting & Wu, Xuan. (2019). Corporate social responsibility and risk-taking:A resource dependence theory-based perspective. Forecasting (03), 45-51.

[8]. Feng, Liyan, Xiao, Xiang & Cheng, Xiao Ke. (2016). The impact effect of social responsibility on corporate risk - an analysis based on China's economic environment. Nankai Management Review (06), 141-154.

[9]. CAI L, CUI J, JO H. (2016).Corporate environmental responsibility and firm risk.Journal of business ethics (3): 563-594.

[10]. Zhao Yuanxian & Wu Weirong. (2014). A study of corporate external regulation affecting the effectiveness of internal control - Empirical evidence from Chinese listed companies. China Soft Science (04), 126-137.

Cite this article

Chai,J. (2023). Social Responsibility, Media Attention and Financial Risk of Listed Real Estate Companies in China. Advances in Economics, Management and Political Sciences,41,193-198.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development

ISBN：978-1-83558-103-2(Print) / 978-1-83558-104-9(Online)
Editor：Canh Thien Dang
Conference website: https://www.icemgd.org/
Conference date: 6 August 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.41
ISSN：2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).

References

[1]. Gao YQ, Chen YJ & Zhang YJ. (2012). "Red scarf" or "green scarf": A study of private companies' motivation for charitable giving. Management World (08), 106-114+146.

[2]. Quan S.F., Wu S.N. & Yin H.Y.. (2015). Corporate social responsibility and share price collapse risk: a "value sharper" or a "self-interest tool"? Economic Research (11), 49-64.

[3]. MEHREZ A. (2020). Social responsibility and competitiveness in hotels: The role of customer loyalty. management science letters (8): 1797-180.

[4]. Huang Jinbo, Chen Lingxi & Ding J. A new species of the genus Phyllostachys. (2022). Corporate social responsibility, media coverage and the risk of share price collapse. Chinese Management Science (03), 1-12.

[5]. Wu D, Zhao QF & Han JY. (2020). Corporate social responsibility and technological innovation - Evidence from China. Nankai Economic Research (03), 140-160.

[6]. Gu, Lei-Lei, Guo, Jian-Luan & Wang, Hong-Yu. (2020). Corporate social responsibility, financing constraints and corporate financialization. Financial Studies (02), 109-127.

[7]. Wang, Jianling, Li, Yue-ting & Wu, Xuan. (2019). Corporate social responsibility and risk-taking:A resource dependence theory-based perspective. Forecasting (03), 45-51.

[8]. Feng, Liyan, Xiao, Xiang & Cheng, Xiao Ke. (2016). The impact effect of social responsibility on corporate risk - an analysis based on China's economic environment. Nankai Management Review (06), 141-154.

[9]. CAI L, CUI J, JO H. (2016).Corporate environmental responsibility and firm risk.Journal of business ethics (3): 563-594.

[10]. Zhao Yuanxian & Wu Weirong. (2014). A study of corporate external regulation affecting the effectiveness of internal control - Empirical evidence from Chinese listed companies. China Soft Science (04), 126-137.

For authors
Guide for authors Policies for authors Aims and scope Subscription Open access policy
For editors
Policies for editors Editorial board
For reviewers
Policies for reviewers Privacy policy

Cookies are used by this site.
Copyright © 2024 EWA Publishing, its licensors, and contributors. All rights reserved, including text and data mining, AI training, and similar technologies.