An Empirical Research On Relationship Between CSR Of Tourism Enterprise And Financial Performance

Tourism plays an important role in effectively expanding domestic demand, creatingemployment and promoting the local economic development. However, there also exist somekinds of phenomenon that lacking corporate social responsibilities (CSR) makes tourismunder strong public pressure. Such as offering poor service quality, ignoring the workers’rights, infringing consumers’ interests, wasting resources seriously, making ecologicalenvironment deteriorative and so on. The absence of social responsibility has a negative effecton tourism. In the face of these difficulties, It becomes tourism companies’ urgent problem tobe solved that how to balance the CSR and financial performance, improving the enterprise’soverall efficiency, so as to make tourism industry sustainable develop.Considering the characteristics of tourism enterprise, based on and the stakeholder theoryand sustainable development theory, the article analyzes that whether tourism corporate socialresponsibility has an effect on financial performance, from the perspective of the shareholders,creditors, government, suppliers, employees, consumers, environment and community. Thenthe article chooses117panel dates of listed Chinese tourism companies from2005to2011asthe swatch, uses analysis regression of which through empirical and theoretical research onthe relationship between CSR and corporate performance with the statistical software ofSPSS16.0and Eviews. Finally, the paper draws a conclusion that the tourism CSR generallyhas a positive influence on enterprise financial performance. The regression analysis of theannual cross-sectional data showed that the relationship between tourism companies fulfillingits social responsibilities and its financial performance is not clear. While taking the impact ofsocial responsibility fulfill infect on the financial performance of, and further analysis of theuse of panel data to make empirical analyses．The regression results showed that tourismcompanies fulfill its social responsibilities having a positive relationship with its financialperformance in long run. In addition, the scale of the enterprise plays a certain role betweenthe tourism CSR and enterprise financial performance.At the base of empirical analysis above, corresponding suggestions andrecommendations are provided. The suggestions are as follow: improve related laws andregulations and normalize the CSR; encourage the tourism corporation to publish the CSRreport actively and improve the check; make the CSR feed into the corporate growth strategy;and enhanced public supervision, and so on。We hope the paper that using theoretical andempirical research can establish theoretical basis for tourism enterprise to take theresponsibility initiatively. It also helps tourism enterprise release from the local interests’limitation and plays a role of social citizens to view the CSR investment for the long term.Furthermore, it makes tourism enterprise fully recognize the relation of CSR and corporate financial performance can help tourism improve corporate social responsibility consciousness,perfecting responsibility implementation system. Thus this study provides theoretical supportto ensure that tourism enterprises initiative fulfill their social responsibilities.