Study On The Co-governance Pattern Of Scenic Class Tour Company Stakeholders

The management of Chinese tourist attractions experienced a pure publicadministration, government franchise, business and the application of modern enterprisemanagement system operating in four stages. However, with the rapid development ofscenic spots, management and governance issues they face are also increasinglyprominent, the most obvious manifestation is still the administrative type of governance,soft constraints under high debt liabilities of governance and governance body, such asthe absence of ownership etc., which not only led directly to the scenic class tourcompany stakeholders numerous, complex relationships, conflicts, and because of itspursuit of short-term economic benefits, resulting in damage to the tourism resources andthe environment, severely restricted the company’s sustainable tourism scenic classdevelopment. Based on this, the introduction of stakeholder theory and corporategovernance theory class scenic tour company stakeholder co-governance pattern study toexplore a scientific, rational governance pattern, handle the many relevant stakeholderson the management, coordination, communication and cooperation in order to enhancethe scenic class tour company management level, and ultimately achieve sustainabledevelopment of class scenic tour company.Through the study of domestic and international tourism stakeholders and tourismdestination governance research literature reviewed, and in accordance with the relevanttheory of corporate governance, to define the concept of tourist attractions, scenic classtour company, while the scenic tourist class corporate governance issues particularity andtheir traditional governance pattern are analyzed and evaluated. On this basis, wesummarized the interests of the class scenic tour company stakeholder demands andconflicts, to build a co-governance pattern of scenic class tour company stakeholders andan empirical test its effectiveness.Specifically, in the interests of the class scenic tour company stakeholder demandsand conflicts part, first class tour company for scenic stakeholders and finalize thedefinition and classification of key stakeholders, and secondly to the interests of variousstakeholders requirements for discussion, further analysis of conflict and the causes of itsexistence. Scenic class tour company stakeholders to build a common governance pattern isbased primarily on tourism companies to introduce scenic class stakeholder governanceprinciples and standards, in accordance with its objectives and principles need to followto build scenic class tour company stakeholders who co-governance pattern and focus oninternal and external stakeholders contractual governance has been studied, and finallyfrom the elastic governance pattern, the advantages and limitations of governance patternfor the scenic class tour company stakeholder co-governance pattern were evaluated.The validation of class scenic tour company stakeholder governance pattern is thebasis for a common higher proportion of debt financing on two assumptions, the ratiowill be based on the use of this pattern and obtain a lower cost of borrowing spreads anddebt-equity as the dependent variable, while the selected eight pairs of poor lending ordebt-equity ratio of the possible impact of the independent variables, and also theapplication of these independent variables were estimated and tested in two regressionmodels. By the results, if the class scenic tour company signed a contract to build a keystakeholder co-governance pattern, then it will be able to reduce its borrowing spreadsand increase the proportion of the company’s debt, which could prove scenic class tourcompany stakeholders co-governance pattern may help reduce agency costs, avoidunderinvestment effect, and it is an effective corporate governance pattern.