Study On Market Reaction Of Chinese Tourism Listed Companies Fulfill Social Responsibility

Since the reform and opening up, economy has acquired considerable achievement inChina. While the fast developing of economy, social responsibility of company is not asfast as it. It occurred many serious problems which destroy the whole society. For example,Shanxi Datong land subsidence event caused by coal mining, Guangdong Beijiangcadmium pollution events and Foxconn employees’ frequent jump off building event, theoccurrence of which has continuously tortured enterprises’ social responsibility withinterrogation has caused society from all walks of life about accountability and thinking ofenterprises’ social responsibility of. Companies play an important role in society. However,on the one hand many companies create great wealth, they also bring many negativeimpacts for society on the other hand. Today, the content of the enterprise to fulfill thesocial responsibility get more and more attention of the public. Many large companies alsobegan to establish its own system of social responsibility, pay attention to socialresponsibility work in daily work. We can say that fulfill the social responsibility isbecoming a direction of companies’ work today. The academic researches which about theperformance of social responsibility has also been gradually increased. Some foreignscholars has been formed a mature theoretical and empirical research in this area.Compared to the abroad, domestic research is not perfect for qualitative analysis andfailure to form a precise quantitative analysis.This study select tourism listed companies in China Market as the research samples,use some theories like stakeholder theory as theoretical basis and analysis whetherfulfilling social responsibility to shareholders, creditors, employees, government andcommunity can have a positive impact in the market or not. This study selects3years ofsample data, use SPSS software for quantitative statistics and get the empirical results and analysis the results. Finally on the basis of the empirical results, the author gives somesuggestions.