Empirical Study On The Relationship Between Social Responsibility And Financial Performance Of Tourism Attractions

Tourism has a strong drive and play an important role in expanding domestic demand,promoting employment,promoting economic growth and other aspects.However,the lack of social responsibility,such as poor quality of tourism services,consumer interests,the deterioration of ecological environment and so on,has not been attached importance to the social responsibility of the tourism attractions.On the relationship between social responsibility and financial performance,it is one of the important factors that influence the decision of corporate social responsibility.At present,the relationship between social responsibility and financial performance of tourism attractions has not formed a unified conclusion in academia and business circles.In this paper,based on the stakeholder theory,take the representative tourist attractions as an example,take 17 listed tourism attractions listed in Shanghai and Shenzhen stock exchange as the object,take the 2007-2013 financial data of 7 years to carry on related analysis and regression analysis of panel data,to study the relationship between social responsibility and financial performance of tourism attractions.The results shows that there is a positive relationship between social responsibility and financial performance of tourism attractions,the influence of corporate social responsibility on financial performance in the long term is more significant.This conclusion can guide the tourism enterprise to undertake the social responsibility of the stakeholders,and form a positive interaction with the society and finally achieve the performance of the tourism industry and sustainable development.