Next Article in Journal
Analysis of Fatal Accidents and Their Causes in the Korean Construction Industry
Next Article in Special Issue
A Comparative Analysis of Machine Learning Approaches for Short-/Long-Term Electricity Load Forecasting in Cyprus
Previous Article in Journal
Revisiting the Relation between Renewable Electricity and Economic Growth: A Renewable–Growth Hypothesis
Previous Article in Special Issue
Demand Response Economic Assessment with the Integration of Renewable Energy for Developing Electricity Markets
Open AccessArticle

Research on Green Productivity of Chinese Real Estate Companies—Based on SBM-DEA and TOBIT Models

by and *
School of Economics & Management, Beihang University, Beijing 100191, China
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(8), 3122; https://doi.org/10.3390/su12083122
Received: 14 March 2020 / Revised: 3 April 2020 / Accepted: 8 April 2020 / Published: 13 April 2020
(This article belongs to the Collection Power System and Sustainability)
Apart from promoting social-economic development and increasing social employment, the real estate industry in China has also brought up problems such as high energy consumption and high emissions. Scholars now focus more on energy conservation, emission reduction and sustainable development of real estate companies in their current research. The data used by this paper are three-year panel data from 2015 to 2018, with observations from 15 representative real estate companies. CO2 and green credit index are introduced as the undesirable output and the green output of real estate companies respectively. First, with the DEA model and the Malmquist index model, this paper evaluates the green productivity of real estate companies statically and dynamically. The Tobit model is then employed by the author to analyze factors that may affect green productivity. Our results indicate that (1) the green productivities of 15 Chinese real estate companies have improved by various degrees. The average green productivity rises from 0.701 in 2015 to 0.849 in 2018, indicating that the energy utilization rate of enterprises has gradually increased. From the calculation and decomposition of the Malmquist total factor productivity index, we know that technological progress is vital in improving the green productivity of real estate companies. (2) As for the influencing factors, the green productivity is positively related to factors such as policy compliance indicator P, environmental responsibility commitment indicator R, indicator of green innovation capability I, and indicator of green development information disclosure M. The asset-liability ratio on the contrary has a negative impact on green productivity. It’s worth to point out that the green innovation index and green productivity is significantly correlated and the correlation coefficient can be up to 0.636, which implies that the key to improving green productivity is to increase research and development investment. View Full-Text
Keywords: real estate companies; SBM-DEA; green credit index; green productivity; tobit regression real estate companies; SBM-DEA; green credit index; green productivity; tobit regression
MDPI and ACS Style

Yang, Z.; Fang, H. Research on Green Productivity of Chinese Real Estate Companies—Based on SBM-DEA and TOBIT Models. Sustainability 2020, 12, 3122.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop