Tourism Corporate Social Responsibility On Its Financial Performance

With the sustained and rapid development of the national economy and society,citizens' demand for spiritual and cultural entertainment is also increasing,and the demand for tourism consumption has never been more prosperous.In this context,tourism has become a promising industry that develop rapidly.Especially in the booming urban economy,tourism continues to advance into pillar industries.The progress of the country and the growth of the urban economy can not be separated from the contribution of tourism,which accounts for an increasingly heavy proportion in the employment and cultural environment.At the same time,tourism enterprises have many significant flaws in fulfilling their business ethic and social responsibilities,such as ecological pollution,destructions of community spiritual culture to a certain extent,lack of norms and constraints of enterprise staff,and so on.In this context,based on qualitative research with the data of 24 listed companies from 2010 to 2016,the paper selects scientific and reasonable evaluation indicators to set up a evaluation index system,put forward the relevant research hypothesis,establish the analysis and evaluation model,and apply Panel data regression analysis method for quantitative research.Firstly,this paper describes the connotation and evaluation system of corporate social responsibility,analyzes the corporate social responsibility and its derived stakeholder theory,and introduces it as the theoretical research platform.On this premise,it puts forward the concept category and analysis model of the social responsibility for tourism enterprises,which lays a theoretical foundation for the quantitative study.Secondly,this paper reviewed the domestic and foreign theoretical analysis and empirical research literature related to corporate social responsibility and financial performance.And summarized and analyzed the current status and inadequacies of the impact of tourism corporate social responsibility on financial performance at home and abroad,and then highlight the necessity and importance of this study.Finally,from the perspective of stakeholder theory,this paper designs a set of evaluation indicators of tourism corporate social responsibility and its financial performance,and puts forward some research assumptions on the basis of theoretical analysis.In the empirical research,it uses spss22.0 and eviews8.0 software to analyze the relevant data.The results of this study show that tourism enterprises fulfill the social responsibility to shareholders and consumers will have a significant positive impact on their financial performance.So does to creditors and governments,but it is not significant enough.However fulfilling social responsibilities to employees and communities does not have a positive impact on their financial performance,possibly due to issues such as public perceptions and inadequate rule of law.In short,tourism enterprises must attach importance to the interests of various stakeholders to achieve sustainable development.Based on the above research results,this paper puts forward some suggestions from the government and enterprises.