Empirical Study On The Relationship Between Corporate Social Responsibility And Financial Performance Of Chinese Tourism Listed Companies

Social problems caused by corporate development emerge in endlessly with theprogressive deterioration of natural ecology in recent decades, and people pay more and moreattention to the corporate social responsibility now. At the same time, with the socialdevelopment, tourism has become one of the fastest growing and biggest scaled industries inthe word. As the development of tourism, tourism enterprises will actively assume its socialresponsibility and it has become a common understanding to contribute to construction of thetourism enterprises social responsibility standards. Therefore, tourism enterprises shouldundertake ethical responsibility for environment, society, tourists and their employee, andachieve the dynamic equilibrium of different stakeholders in management.Firstly, this thesis summarized the concept and evaluation system for corporate socialresponsibility and then discussed the stakeholder theory which derived from the corporatesocial responsibility theory. Furthermore, the social responsibility of tourism was put forwardbased on the stakeholder theory, which establish the theory base for this research.Secondly, based on the review of theoretical analysis and empirical study on therelationship between corporate social responsibility and financial performance at home andabroad, this thesis discussed the research status and problems about the relationship betweencorporate social responsibility and financial performance at home and abroad and then putforward the necessity of this research.Thirdly, this thesis established an index system in view of stakeholders to measure thecorporate social responsibility and financial performance in china tourism listed companiesthrough selecting sample firms based on the above-mentioned theoretical analysis, and thenbuilt a multiple linear regression model.Finally, empirical analysis and test on112data during the year of2001~2007from16tourist enterprises has been performed to verify the above-mentioned theoretical hypothesis. Itwas showed that the corporate social responsibility and financial performance indicated apositive correlativity between them, which supported research hypothesis. Then, this thesisproposed opinions and suggestions to promote the corporate social responsibility of tourism tobe carried out in china.