【摘要】 为探究社会责任对缓解房地产企业融资约束的作用,在分析房地产企业通过承担社会责任降低融资约束路径的基础上,以沪深两市房地产上市公司为样本,首先构建社会责任和融资约束的表征模型,其次按社会责任承担多少将房地产企业分组,并通过比较两种组别的房地产企业的融资约束,证实房地产企业履行社会责任对减轻融资约束的作用。研究发现,社会责任履行程度高的房地产企业面临更低的融资约束;同时,越是在经济发达地区,社会责任对房地产企业融资的帮助越明显。最后,提出增强房地产企业社会责任的建议,为其减少融资约束提供参考。更多还原

【Abstract】 In order to study the role of social responsibility to alleviate financial constraints of real estate enterprises,the listed real estate enterprises in China are selected as samples on the basis of analyzing the path of the real estate enterprises to reduce financing constraints. Representation model of social responsibility and financial constraints is constructed. Samples are divided into two groups by social responsibility. By comparing the two groups,the results of real estate enterprises with a higher degree of social responsibility will face lower financial constraints are found. Especially,in regions with high levels of economic development,the higher the social responsibility fulfillment degree is,the lower financial constraints will be. Finally the suggestion about how to enhance the real estate enterprise social responsibility is proposed in order to reduce the financing constraints.更多还原