The Corporate Social Responsibility, Internal Control, and Financial Risk of Listed Real Estate Companies

This paper conducts an empirical study using data from Chinese A-share listed real estate companies from 2015 to 2022, exploring the relationships among corporate social responsibility (CSR), internal control, and financial risk in the real estate sector. The research findings indicate that actively fulfilling social responsibility by real estate listed companies contributes to reducing financial risk, with the level of internal control playing a positive moderating role therein. Moreover, the various dimensions of CSR exhibit differential impacts on financial risk, with the impact of social responsibility on social commitment being the most significant in reducing financial risk. Therefore, this paper proposes recommendations for real estate companies to fulfill their social responsibilities from the perspectives of government, enterprises, and investors.